Fusion is a process in which two or more foundations (foundations to be added) transfer all their property to a newly established foundation (the acquiring foundation).

In the case of a merger, the foundation to be added ceases to exist without liquidation proceedings and the rights and obligations of the foundation to be added shall be transferred to the acquiring foundation

Not earlier than 3 months after the publication of the notice, each foundation involved in the reorganisation shall submit documents to the reorganisation in the Enterprise Register in the official publication Latvijas Vēstnesis.

Documents to be submitted:

• Application Form B5
• Reorganisation contract or duly certified copy
• Reorganisation decision of the Management Board
• Document attesting the consent of another administrative authority to the reorganisation (if the articles of association provide for such procedures)
• Statutes of the receiving foundation
• List of Board members of the receiving foundation
• Joint application of foundations for the registration of a newly established foundation in the register
• A receipt or a copy thereof, or a printout of an online bank payment, or information on the payment of the State fee