A Foundation is a civil law concept, previously used for public and charitable purposes. Over a period of time, this concept has been extended to wealth management. The Foundation acts like a trust and functions like a company, effectively combining the best features of both.
The primary benefits of the Seychelles Private Foundation are in terms of the opportunities it offers by way of Tax deferral, Succession planning, and Financial Privacy. The applicable law also contains some of the strongest asset protection provisions ever conceived for a structure of its kind.
When assets are endowed to the Foundation (by the Founder), they become the property of the Foundation with full legal and beneficial title. They are no longer considered to be the assets of the Founder. The beneficiaries of the Foundation have no legal rights to these assets and they cannot exercise any control over its decisions.