Eagle Worldwide Inc.(fka ELWD)

[was builder]

DD--Looks like MT was right w/ regards to the law and the release of the A/F's. Been doing some DD here and have found some useful links worth looking into if you may have questions. Doesn't answer why he just realized this at midnight on Thursday. But hey... s@3t happens. GLTA here.
builder


http://forming-private-foundation-panama.ukincorp.co.uk/

"The Private Interest Foundation as an entity is the latest attribute established by the Panamanian Legislative Branch to help secure Panama's position as a tax haven. The 1995 legislation was drafted to complement the interests of foreign investors, especially those seeking asset protection. An additional protection provided by the 1995 legislation is that all persons involved in any activities, transactions or operations related to the Foundation are required to maintain full secrecy and confidentiality at all times. The punishment for breach of this duty is six months of imprisonment and fifty thousand-dollar fine, with the potential for further civil liability. This applies to persons involved in any transaction (constitution, amendments, by-laws, etc.) of the Foundation, irrespective of whether they work in the private or public sector. With the proper planning, a Private Foundation can be used as an integral part of estate planning. It is useful to keep in mind that Foundations have been established with the intent to attract capital from foreign investors, and in exchange the investor will receive secrecy on the operations made, asset protection and tax exemptions. In the event of political instability in Panama, the Foundation could relocate to another jurisdiction, subject to such jurisdiction's recognition of the Foundation. In this way the Foundation can protect itself from government instability and the assets can not be expropriated."

Panama's Private Interest Foundation Law
N° 25 of June 12, 1995

http://www.legalinfo-panama.com/english/fiplaw.pdf


Panama Accounting and Auditing

http://www.lowtax.net/lowtax/html/jpasdiracca.html


Accounting rules

http://www.interexlebanon.com/serv/frame_dynamique.asp?url=/ATLAS/interex2/frame_atlas.asp?atlas=35&....