A Legal entity create by the Law 25 of 1995, with purpose of protecting and planning the management of your assets. This legal entity can be use to plan your legacy, because It is not contrary to the law of succession. The Private Interest Foundation is originates when you transfer your assets to be managed and saved under the objectives and rules, that you are going to establish is benefit of one or more persons. It is not a legal entity in the practice of commerce; However, this is useful to protect your investment, because your assets will be transferred to the foundation with the following benefits:
• Your properties, investment or wealth are going to be subject to the Foundation Affidavit and this constitutes the objectives for the creation of the Private Interest Foundation, this is the way for the founder to control the assets.
• The personal duties of the founder or any member of the Council is will not affect the assets of the Foundation. They will be saved from future confiscation.
• After three years of the assets transfer to the foundation, these become unable to be impounded.
• National or foreign assets can be transfer to the foundation if is not contrary to the laws of the foreign asset.
The foundation has several Fiscal benefits and the capacity to contract. The existence of the Foundation can be for a definitive and in definitive time and transfer of the assets can be irrevocable or not. Is you want to create a Private Interest Foundation.