Gibraltar Foundations

1. Introduction to Gibraltar Foundations

Gibraltar's Private Foundations Act came into force on 11 April 2017. This information sheet contains a brief summary of the main features and characteristics of the legislation ("the Act").

2. The Founder

1. Key to the establishment of a Gibraltar foundation is the founder. The founder of a Gibraltar foundation will be responsible (either directly or through an agent) for endowing the foundation with its initial assets, registering the foundation and determining:
   
   
   1. its purpose;
   2. its constitution; and
   3. its initial officers (i.e. who the initial councillors and guardian (if any) are).
2. As soon as the founder endows the assets to the foundation and properly constitutes it, he no longer has an interest in those assets. The assets become the property of the foundation to be applied towards the foundation's purpose. The Act, however, allows the founder to be a member of the class of beneficiaries, in which case