The use of foundations has become more common than before and are a civil law alternative to trusts. Foundations are perfect for those who don't want to lose control.
Using a Private Interest Foundation removes ownership from one's personal name and transfers ownership in the name of an entity that does not have owners. The privately appointed beneficiaries remain anonymous.
A foundation is a registered, independent legal entity. As such, it can purchase and hold assets of any kind; the foundation council manages said assets.
The Private Interest Foundation legislation has very clear provisions limiting claims against the founder.
The Private Interest Foundation is a discreet vehicle which can be used to open and operate bank accounts; offer testamentary protection to administer and distribute family wealth. A Private Interest Foundation can act as philanthropic organization for religious institutions, and a holding entity that functions as the owner of other corporations.