Building a foundation Unfortunately this specification of service has not yet been completely translated.

If you wish to establish a foundation with legal capacity, you, as the founder, determine the purpose of your foundation and undertake to provide it with assets (usually cash, securities or real estate) from which the foundation's work is financed. You also give the Foundation a name and designate its bodies (board of directors and optionally a board of trustees). A foundation statute, which is also set by you as a founder, regulates the internal organization. The Foundation acquires its legal capacity through state recognition. Recognition for the Foundation shall be granted if the conditions under foundation law are met. Possible purposes for a charitable foundation would include: Science and research, Health practices, Art and culture, Youth and elderly care Education and training Sport and much more A foundation can be established during his lifetime, but also by death.

Proof of assets Foundation business or foundation statutes


Preconditions
Corresponding assets of at least €25,000 and (common) will to donate.

Hints
Further information can be found on the website of the Rhineland-Palatinate Ministry of the Interior and for Sport.
Consideration of which purposes should be pursued with the foundation and which assets should be contributed, if necessary with advice from the Supervisory and Services Directorate Development of the Foundation's business, including the Foundation's statutes in the draft (based on the samples on the ADD website) Coordination with the Foundation and the competent tax authority (in the case of a tax-deferred foundation) Recognition of the Foundation on the basis of the coordinated foundation business, including the statutes, by the ADD as the foundation authority. The foundation supervision of the country ensures that the foundations are managed in accordance with the State Foundation Act and the Foundation Statute. It ensures that the will of the donor or pens is permanently observed or that no more than necessary changes are made. Supervision should be managed in such a way that the decision-making and responsibility of the foundation's bodies are not compromised.

Responsible for the content
Mdi

Last update or date of publication
28.08.2019