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Association

An association is a voluntary union of persons founded to achieve the purpose laid down in the articles of association, which shall have a non-profit-making nature.

  • Founders of an association may be natural and legal entities, and partnerships with legal capacity
  • There must be at least two founders
  • Associations are classified according to the classification of the activities of associations and foundations approved by the Cabinet Regulations. The classification includes 60 fields of activity
  • An association is entitled to conduct economic activity as a complementary activity in order to achieve its goals and ensure its activities
  • An association is a legal entity