Foundations

It is often seen as a cross between a trust and a company, and has characteristics of both. A foundation has a separate legal personality.

A Foundation is established by a founder who transfers assets to achieve the objects of the Foundation. Assets placed in a Foundation become the property of the Foundation, both legally and beneficially.

A Foundation has a separate legal personality, can transact in its own name, can hold assets, can sue and be sued. Unlike Trusts, which are established for a finite period, Foundations can exist in perpetuity.

Foundations offer several unique and distinctive characteristics. These include:

• A Foundation has a separate legal personality and can enter contracts in its own name.
• A Foundation is a registered entity and is therefore relatively transparent, which can be of advantage to financial institutions and authorities when complicated transactions are being entered into.
• The removal or addition of beneficiaries can be carried out by an amendment to the constitution documentation.
• Legal charges can be placed against a foundation and can be recorded.

Every Foundation must have a Founder, Beneficiaries, Foundation Instrument and Council. A Foundation can also appoint an Enforcer, but this is optional, unless the Foundation is established to carry out specific non-charitable purposes.

Our Foundation services include:

• Establishment of Foundations across multiple jurisdictions
• Drafting the Foundation Instrument
• Provision of Council Members
• Registration of the Foundation
• Management and Administration