Panama foundation or BVI trust: what you need to know
Panama's private interest foundation and the British Virgin Islands VISTA trust are used to hold and pass on assets. They are not off-the-shelf products: badly set up, they protect nothing and can be recharacterised.
Published on 4 November 2026 · Jason Pivron, director
Two holding tools
Our foundations and trusts service covers two tools: the Panamanian private interest foundation and the British Virgin Islands VISTA trust. One is a legal person run by a foundation council; the other is a relationship of trust handed to a trustee.
In both cases, the constitutive deed and the letter of wishes say who benefits from the assets, and how. The choice between them depends on your assets, your heirs and your succession law.
Never without a prior review
Our rule: never as a package, and never without a lawyer. The service starts with a prior review of the merits, against your succession law.
A badly constituted trust offers no protection and can be recharacterised, with heavy tax consequences. Nothing here is tax or legal advice: your case is checked during the scoping call.
The steps
Our service starts at €1,500; in Panama it is published at €1,500, then €1,390 per year.
- Prior review of the merits, with a lawyer and against your succession law.
- Drafting the constitutive deed and the letter of wishes.
- Appointing the foundation council or trustee.
- Transferring assets and setting up the follow-up.
Panama today
Panama applies 0% territorial taxation, according to our profile. It left the EU list of non-cooperative jurisdictions on 9 October 2026, but remains under watch (Annex II), and the removal has not yet changed banks' attitude.
Since Law 129 of 17 March 2020, a private register of final beneficiaries, filled by the resident agent, is open only to the authorities. We incorporate there only on a written operational justification.
The British Virgin Islands
The British Virgin Islands are the world's most used place of incorporation for asset holding, with wide statutory flexibility. Economic substance rules apply there to several activities, with an annual declaration.
Our assessment of banking access is the same as in Panama: difficult, with very few banks still accepting a structure without a strong operational link.
Before deciding
A foundation or a trust does not, on its own, change your tax residence or your heirs' tax; it organises holding and transmission. The first question is your succession, not the country.
A free 20-minute call is enough to tell whether either tool makes sense for you, with a firm quote before signature: book a call.
Frequently asked questions
What is the difference between a Panama foundation and a trust?
The private interest foundation is a legal person run by a foundation council; the BVI VISTA trust is a relationship handed to a trustee. The choice depends on your assets, your heirs and your succession law.
Does a trust always protect assets?
No: a badly constituted trust offers no protection and can be recharacterised, with heavy tax consequences.
How much does a Panama foundation cost?
Our published price is €1,500, then €1,390 per year.
Is Panama still on the EU blacklist?
It left on 9 October 2026, but remains under watch (Annex II); banks' attitude has not yet changed.