If you are considering philanthropy or you are already involved in setting up a foundation, the first thing you need to do is identify which type of foundation is best suited to your unique aims and ambitions. There are many different types of foundation and each offers different advantages and disadvantages. Our goal is to work with you to find the right solution for you.
Choosing a type of foundation depends on your aims and your specific starting position. We provide comprehensive and transparent advice on the advantages and disadvantages of each type of foundation.
Establishing a foundation during your lifetime is especially exciting as you can make an impact yourself and the foundation will live on in its own right. You can also make plans for a foundation to be established at the time of your death, provided that you complete all the necessary steps during your lifetime.
Depending on the type of foundation, it can be difficult to implement subsequent requests for changes. That is why we recommend establishing your foundation with professional support. We can help you prepare all the necessary documents for your foundation.
Depending on the type of foundation, you may be required to complete a lot of documents to establish your foundation. We can help you with all the formalities and, if requested, also hold some initial discussions with the supervisory and tax authorities.
All of the most important enquiries and evaluations relating to setting up an independent foundation must be completed prior to starting your foundation. Costs should be proportional to the size of the foundation and sufficient assets should be available for the foundation to fulfil its purpose and achieve its long-term goals using capital and income.
If you decide to set up an independent foundation, there are many things you need to take into account during the establishment process.
You make a binding decision that the foundation will have a charitable purpose.
Creating the deed of foundation is vitally important. You may also be required to prepare other documents, such as the foundation, investment and fee regulations.
You must choose the location of your foundation and the supervisory authority. This may vary depending on the foundation’s activity.
The deed and any regulations that have been drawn up are subject to a preliminary examination. The foundation’s tax-exempt status will also be checked.
Any foundation documents that have been prepared will need to be notarised.
Last but not least, you must apply for tax exemption, the organisation of the bookkeeping and the auditors.