Europe: Commission proposals for European Foundation statute

The European Commission has published proposals for a European Foundation statute: see here (pdf). Foundations will have legal personality and a public benefit purpose. There must be a cross-border dimension to their objectives (or an objective to carry out activities in at least two Member States). Profits are to be used for the pursuit of a public benefit purpose (or purposes) and the assets on formation must be equivalent to at least 25,000 euros.

For further information see: FAQs | Commission press release | Impact assessment: summary (pdf) and full version (pdf) | 2009 consultation information |