PIF-Panama has the following parties involved:

Founder: is the person or entity that establishes the Panama Foundation in the Public Registry of Panama. It’s the owner of the funds and goods that are going to be transferred.

Nominee Founder: He is only recognized as the individual who presented the Panama Foundation in the Panama Public Registry when the entity is registered. This type of Founder has no influence over the control of the Panama Foundation.

Foundation Beneficiaries: These are the individuals or institutions receiving benefits from the Foundation. The beneficiary can be the Founder or any natural or juridical person of any nationality domiciled in any country in the world. Beneficiaries can be changed at anytime.

Foundation Council: The Panama Foundation Council serves the same purpose as the Board of Directors on a Corporation (the management, administration and business of the Foundation). The council members are each registered in the Public Registry with their names, addresses, and identifications as council members to the Foundation.

Foundation Protector: The Protector is the person or entity that ultimately Controls the Panama Foundation and all assets held within it. The Protector is appointed by the Panama Foundation Council when the Panama Foundation is created, however, once the Protector is empowered, the Protector can then remove the council members at any time without consent of anyone else. It is a position of control but not ownership.

Resident Agent: A Resident Agent or Agent is the link between the Corporation and the Panamanian Government. They take care of paying the Foundations annual taxes and provide any legal assistance that the Foundation may need. By Law, the Registered Agent must be an Attorney in Panama or a Panama Law Firm. IBC-Panama provides the Resident Agent service.