Yesterday, the Commission presented a proposal for a regulation
on a statute for a European Foundation
("FE").
The Commission's objective behind this proposed statute is
to achieve a European harmonized regime for charitable foundations
operating cross-border in order to facilitate charitable
foundation`s establishment and operation throughout the EU.
For these aims, the proposal provides a new, additional and
voluntary legal instrument to allow any natural or legal persons
establishing a FE under the same legal conditions across the
EU.
The statute focuses exclusively on taxexempt foundations. At the
time of registration in one Member state, the FE must prove public
benefit purposes, a crossborder component of operation and a share
capital of at least 25,000 EUR. Upon registration the EF shall
receive legal personality and full legal capacity in all Member
States.
