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The Foundation Charter

The foundation charter in Panama needs to contain at a minimum the following information:

- The Name, Domicile and Initial funds of foundation as well the name of the local registered agent.
- The members of the Foundation Council.
- The objectives and goals of foundation, such as asset management. A decree as to how changes may be made to the charter.
- The process in which the beneficiaries are selected, the lifetime of the Foundation and instructions for liquidation.

The name of the foundation has to be unique. Usually this is handled by adding the word foundation after the name selected.
The founder may be a member of the foundation council and also in the list of beneficiaries.

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