Foundation formation and administration

They are similar to companies in that they are corporate bodies albeit absent shareholders and are governed by a council in accordance with a charter and rules in much the same way that companies are managed by their boards of directors. They are similar to trusts in that they must have one or more objects, which may involve the making of provision for named beneficiaries, the pursuance of a (charitable or non-charitable purpose), or indeed both.

Nevertheless, foundations are distinct legal structures with special features of their own. They;

• are ideal vehicles for private wealth management, succession planning and charitable giving.
• appeal to and are readily understood by those from a civil law background.
• are very flexible.
• have legal personality and may contract or sue in their own name.
• do not involve the segregation of legal and beneficial title to assets.
• are also private. Although they require formal registration, only a very limited amount of information needs to be placed in the public domain.

We can provide you with a full foundation formation and administration service, including the provision of councillors to your foundation’s council.

We also offer stand-alone foundation administration services to private trust foundations and can act as guardian for foundations under third-party administration.