Foundations and Charity Law
If a private person or a company wishes to secure assets and related proceeds for specific purposes, the best solution may be to place the assets in a foundation. If relevant interested parties or members are to be able to dispose over assets or rights, this is best ensured by setting up a charity organisation.
NJORD assists commercial foundations, associations, companies and charitable and non-profit organisations within the areas of business development, including advisory services relating to current matters regarding the operation of the company in relation to business and tax law matters.
When setting up a foundation it is important to consider the purpose, management etc., as the intention of the founder must be respected. Unlike associations, foundations do not have a general assembly, which may subsequently adopt changes to the intention of the founder.
NJORD offers advisory services on the following:
- Establishment, merger and demerger of foundations and associations
- Company structure and development
- Public fundraising rules
- Taxation and tax exemption for charities
- Framework for investment and distribution policy
- Co-ownership and ownership agreements
- Relation to founders and donors
- Amendments to articles of association and extra-ordinary transactions