1. TheUltimateInAssetProtection Body Politic & Corporation Sole
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Body Politic & Corporation Sole
Part 4 of 10
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Introducing the Corporation Sole
The Corporation Sole, like a Sole Proprietor, is a Corporation that consists of a single (Sole) office, that is legally incorporated and has complete, legal protection and recognition. Wikipedia has more information on Corporations Sole on this link:
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A Corporations Sole can be used to set apart and protect assets in the United States for the benefit of all of the members of your religious society, which can consist of your children, grandchildren, other special people, and worthwhile causes and purposes.
Corporations Sole can also be used for promoting other public charities, as well as educational institutions, scientific research, or even performing arts groups, depending on where they are filed.
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The law provides for special privileges for this type of non-profit corporation, when used for religious purposes.
When operated within the legal confines of their charters, they function both as a body corporate (a corporation, which limits liability) and a body politic (a municipal government, which has the authority of making or adopting their own, internal laws, rules, and regulations).
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We can assure you that the Corporation Sole is tax immune, but would that give you a lot of confidence?
For some people, maybe.
The rest want some kind of proof!
We do not ask you to take our word for tax immune status.
The IRS tells you, on their form CP 575 E, that there is no requirement for your Corp Sole (or Charitable Trust ) to file a tax return, and therefore, no payment of Income Tax.
Follow the link and see for yourself!
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Like the Private Interest Foundation (PIF), the law provides that the Corporation Sole office is a separate entity from the office holder.
There is a body of law over 500 years old, showing that the assets of the Corporation Sole are not the assets of the office-holder, and vice-versa.
There is no “alter ego,” and property donated to the Corporation Sole cannot be seized by a lawsuit against the office-holder.
81 Cal.Rptr.2d 574 County of San Luis Obispo v. Ashurst
Important note: The above case affirmed, not overturned, the lower court ruling. This is solid law.
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The PIF and Corporation Sole work together to help YOU comply with all laws on foreign money transfers, both sending money to and receiving money from an offshore bank account, regardless of the amount of the transfer.
U.S. taxpayers can use the Corporation Sole holding title for land in the USA and pass the use of the land to the members of their religious society without the delay and cost of probate.
The land and property inside the USA is held in the name of the Corporation Sole, and the bulk of the society’s money is held in and invested by a PIF located in Panama, under your direction.
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A Corporation Sole is a hybrid between a Corporation and a Trust.
Similar in this respect to a Private Interest Foundation (PIF), but whereas the PIF has a full slate of officers, the Corporation Sole has less complication because it consists of a single (sole) office.
Corporations have continual, perpetual existence, whereas statutory trusts are usually limited by law to a certain number of years. They call it a “rule against perpetuities.” A Corporation Sole can have continual, perpetual existence, like a corporation.
The Corporation Sole has the mission of a Trust, - to hold property for beneficiaries, not pay profits to shareholders.
The Corporation Sole is not in business to make a profit for share-holders, but just hold title for property and investments on behalf of members of the group, and not LOSE money.
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Summary of benefits of using a PIF in conjunction with a Corporation Sole
Frees your time for making money or enjoying life
When written correctly, you are kept aware of all details of the management of the PIF and the Corporation Sole.
When written correctly, you retain 100% control over the assets, where ever they are in the world.
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Summary of benefits of using a PIF in conjunction with a Corporation Sole
When written correctly, you have ZERO requirements to make reports to the IRS of the activities or money being held or moved by the PIF or the Corporation Sole.
Completely eliminates delay and cost of Probate on all money and property in the PIF or the Corporation Sole.
You can make more money, save more money, and have more money to give to your grandchildren.
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Please visit our web site for more complete information on the Panamanian Private Interest Foundation (PIF), and a growing FAQ page on what a PIF is and how to use it. There is also an English-language copy of Panamá Law #25 of 1995, so you can read for yourself why this Asset Protection and Estate Planning tool is among the very best in the world, at any price.
This is part Four of a series of presentations on how to use the Private Interest Foundation to your maximum advantage. Please save these presentations for future reference, as they become available.
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Conference Calls on Saturday at 9:00 PM Eastern & 6:00 PM Pacific
Phone # to Dial: (425) Use Conf ID: #
To request services:
MM #401/ Suite 116,
1702 N. Woodland Blvd.,
DeLand, Florida, 32720
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