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 |

Europe: European Statute for a European Foundation - Commission consultation

The European Commission has launched a consultation in which it seeks views on the need for a new legal form: the European Foundation. It has also published a feasibility study, commissioned in 2007 and completed jointly by the Max Planck Institute for Comparative and International Private Law and the University of Heidelberg. The authors of the feasibility study, in Annex G, explore the foundation concept and state that it has the following characteristics:

• Non membership-based organization based on an original deed.
  
• Private (i.e., separate from Government).
  
• Self-governing.
  
• Non profit distributing.
  
• Serving a public purpose.