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Incorporating a Foundation with Formations House takes only ten minutes
What is a Foundation?
An offshore Foundation is a legal entity similar to a normal Limited Company, but with beneficiaries instead of shareholders. Both moveable assets (such as personal belongings or patents) and immovable assets (such as real estate) can be donated to the Foundation by its Founder, and subsequently becomes the legal property of the Foundation.
Why Incorporate a Foundation?
Incorporating a global offshore Foundation is ideal for family succession/estate planning, asset protection and flexible taxation management. Foundations are formed for a variety of reasons:
- Charitable or specific-purpose foundations: often solicit donations from the wider public, and are established for a specific and/or charitable cause;
- Private foundations: established as a private venture and do not solicit public donations. Private foundations have a wide variety of causes, but are often incorporated as a highly-effective method of protecting your current assets for future generations.
Requirements and Obligations
A Foundations is obliged to file annual accounts to the Registry. The accounts should detail:
- Income and donations received;
- All sales & purchases;
- Any assets or liabilities.
It is also required that a Foundation must maintain, at all times, a Registered Office in the jurisdiction of incorporation, and due diligence of the Founder must be carried out and documented.
Incorporating your Foundation with Formations House
Incorporating your Foundation with Formations House is a fast and simple process, taking only ten minutes and is conducted entirely online. With over fifteen years of experience in the field of Foundation incorporation, Foundation House’s experts will ensure your new Foundation has the clearest legal structure and will minimise any tax exposure.
After the incorporation process is complete, you will receive the following:
- Certificate of Registration;
- Registry-stamped Foundation Charter Documents;
- Copy of the Foundation’s Regulations;
- Confirmation of the appointment of the first Councillor(s) by the Founder;
- Copy of the First Resolution of the Councillors;
- Additional certified copies of documents, if required.