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Panama Foundation Beneficiaries
The beneficiary of a Foundation can be a legal entity or a natural person. The person can also be completely generic in nature such as a specific group of people in a region. The beneficiaries have to exist.
The foundation council may add or remove beneficiaries based on the instructions as set forth in the foundation charter. A legal guardian may represent a minor in certain circumstances. The beneficiaries cannot terminate the Foundation or transfer assets except as provided for the charter.
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