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Foundation

A foundation, including a fund is a set of assets allocated for the achievement of the founder’s goal which shall have a non-profit-making nature.

  • A foundation is a legal person
  • Founded by one or more persons
  • A foundation is classified according to the classification of the activities of associations and foundations approved by the Cabinet Regulations. The classification includes 60 fields of activity.
  • A foundation may determine or apply simultaneously several fields of activity

A foundation is entitled to conduct economic activity as a complementary activity in order to achieve its goals and ensure its activities