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Panama

"Panama is an Independent country with a canal"

The Panama Private Interest Foundation is a legal instrument established by way of a private or public document, by either one or more private person (s) or corporate entity (ies) known as the Founder (s) and the allocation or endowment of funds or assets by the Founder is essential to its creation.

The Foundation is an independent corporate body (removed "of the Founder") and it contains the administrative organ called the Foundation Council, the principal function of which is to administer and fulfill the purpose of, the foundation. It is considered as a useful vehicle for inheritance purposes, similar to a will.