A foundation is a legal person in its own right. It owns assets, has no shareholders, and is run by an officer, with a council if you choose to appoint one.
A foundation holds property in its own name. Nobody owns shares in it. Its officer runs it according to a charter set out when it is established.
The foundation owns its assets itself. There is nobody to buy out and nothing to divide.
You appoint the officer, and a council if you want one. As founder you can keep certain powers under the charter, such as amending it or appointing and removing beneficiaries.
It says what the foundation is for, who benefits from it, and what those running it may not do.
A family wants to keep a business in one piece across two generations. They would rather appoint an officer they trust than hand the shares to a trustee.
The foundation owns the business. The people you appoint run it. The charter sets the limits.
How far we go is your choice, and it can change later.
We prepare and file what the registrar needs to see.
We act as secretary. We can also act as nominee officer or sit on the council, or leave those roles to your own appointees.
We keep the register, the records and the annual obligations in order.
The foundation carries on when its founder dies, with no transfer of ownership. The people you appointed keep running it under the charter. Nothing depends on one person staying available.
A trust has a trustee who holds assets for beneficiaries. A foundation owns its assets itself and its officer runs it, with a council if you choose one. Which one fits depends on how much you want to hand over.
Yes, as long as you are not also an officer of the foundation. A founder can be a council member, and so take part in running the foundation.
Yes, and it is one of the most common reasons to set one up.
Speak with our team. We will talk through what the charter needs to say and who should run the foundation.