Over 60% of the world is under a civil law form of government including most of Europe and all of Asia, with the exception of Hong Kong and Singapore. Foundations are widely excepted in the international community and preferred in most countries operating under civil law. A Seychelles Foundation is a separate legal entity just like a company, but has beneficiaries rather than shareholders. Assets transferred to a foundation become the property of the foundation with full legal and beneficial title and are no longer the assets of the founder. Once a foundation has been funded it is managed by a foundation council for the directing of investments and appointment and removal of councillors, protectors and beneficiaries. The foundation council is located in the Seychelles, which is a nil tax jurisdiction, and mitigates potential tax risks from aggressive taxing authorities in other countries.
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