A foundation is a non-profit organization whose primary purpose is charitable and/or research-related. The actual scope of activities that foundations can engage in varies significantly between jurisdictions. Nowadays, foundations are often used as an asset protection tool and hence here we will discuss offshore foundations used for wealth management purposes. In this regard, foundations are often used to receive the transfer of foreign funds and assets (including assets such as real estate, intellectual property, bank deposits, company shares, investment portfolios, etc.).
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