Foundation

Foundation

Establish a foundation

You can only establish a foundation by notarial deed or last will. The foundation is a legal entity. This means that the foundation has full legal capacity and independently bears rights and obligations.


Deed of incorporation

An association must be founded by at least two individuals. An association can be established either informally or through a notarial deed. In the case of an informal establishment, the association's formation occurs through a verbal agreement or through a private document. For establishment through a notarial deed, you need to visit a notary. The choice is up to the founders. However, there are differences in legal consequences between establishing through a notary and through an informal document.

Deed of incorporation

In a deed of incorporation (as required by law) the articles of association have to be included. The civil-law notary shall at least include the following in the articles of association:

  • The name of the foundation, where the word ‘Foundation’ shall form part of the name;
  • The Dutch municipality where it has its registered office;
  • The purpose of the foundation;
  • The manner in which board members are appointed and dismissed;
  • The designated use of the positive bank balance on dissolution or the manner in which this designated use is determined.


The articles of association shall also include the obligations and duties of the board.

Distributions

The distributions of an association shall be to the benefit of the idealistic or social purpose. A foundation cannot make distributions to its founders or to parties forming part of the foundation’s bodies (such as the board). The board members can be compensated for their expenses or time spent (provided this is realistic).

Verification

The deed shall be drawn up in Dutch and the civil-law notary shall verify that the aforementioned requirements have been complied with.

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Of course you could also reach out to us by filling in our contact form. We would be happy to help you and advise you on the best solution for your personal situation.

Celine Lardenois

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