Foundation

The foundation - a perfect instrument for asset protection.

The word foundation is generally automatically perceived as a charitable or non-profit making organization. In fact only a small percentage of all foundations are charitable. Most foundations are set up for the protection of the founders' assets and as a tax benefit.

The actual legalities of a foundation determine that there is no obligation to be a charitable organisation. The speciality of a foundation is that it has no actual owners but only a board of officers. This fact seems to be a minor juridical issue but actually it is of utmost importance. Once assets have been placed into the foundation the founder does not legally own them or have a requirement to declare them. Neither does he own the foundation. This is of particular interest in cases of bankruptcy, divorce or third party claims. All types of assets can be owned by a foundation such as bonds, stocks, real estate and even patents or rights. Using a regular company structure there would always be a beneficial owner in the background and  relatives or third parties could be informed about this. With a foundation there is legally no owner and even if somebody should be aware of a connection between the founder and the foundation ,  they can not  access the property of the foundation. Due to the fact that a foundation is a corporate body it allows for easy controlling. The term of the foundation  is unlimited and certain requirements or specifications may be fixed in the articles. These specifications can not be altered or revoked at any time, even after the death of the founder. This ensures that the founders funds are only ever granted to whom he states.

A foundation is not formed in order to conduct business. It is made to manage and protect it's own assets. However it is a very common and useful structure to have a foundation as owner of an offshore corporation. The profit of the corporation is regularly transferred to the foundation but should a bankruptcy of the corporation occur, it would not affect the foundation at all.

Advantages in forming a foundation

The Founder can transfer assets into the foundation and legally declare he does not own them

No assets that belong to the foundation can be seized

Potential inheritors can not make claims against the foundation

foundations are free from taxation

foundations are not required to be charitable or non-profit making organizations

The registration of a foundation is based on the following fees:
formation of a foundation including:	1.890,- Euro
name check
preparation of memorandum
preparation of articles
preparation of registration forms
filing with the registrar of companies
payment of filing fees
certificate of incorporation
share certificates
premium binder with all certificates
minutes of board meetings
resolution to open a bank account
resolution to rent an office
resolution to appoint a company lawyer
resolution to appoint an accountant
employment agreement
employee nondisclosure agreement
employee invention agreement
power of attorney
sample letterhead
sales contracts
register of directors
register of shareholders
CD-rom with business forms and templates
shipping
Fees foundation	1.890,- Euro

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If you experience problems opening the order form,
please call customer support at +44 (20) 7117 0 700.

You can add the following services to your trust:

optional | additional services
premium binder with all certificates	0,- Euro
apostille	190,- Euro
nominee service through lawyers	490,- Euro
Information: For the highest level of privacy protection we offer a lawyer as nominee director who issues a power of attorney for you. This ensures that your personal information is not submitted to any authority. Only lawyers are able to provide this level of protection. Watch out when comparing with other offers.

optional | virtual office
1 year standard virtual office	190,- Euro
1 year professional virtual office	490,- Euro
Information: Both virtual office services include a prestigious address with phone and fax numbers. The standard Edition will direct calls to an answer machine with your company greeting and recorded messages are then sent via Email. The professional Edition includes permanent live call forwarding to any number world wide.

optional | bank accounts
offshore Banking, Belize	490,- Euro
offshore Banking, Cyprus	490,- Euro
offshore Banking, Dominica	490,- Euro
offshore Banking, Dubai	490,- Euro
offshore Banking, Isle of Man	490,- Euro
offshore Banking, Latvia	490,- Euro
offshore Banking, Panama	490,- Euro
offshore Banking, Seychelles	490,- Euro
offshore Banking, St. Kitts	490,- Euro
offshore Banking, Switzerland	490,- Euro
Information: Our account opening service offshore Banking offers feature rich business checking accounts. The accounts offer internet banking, multi currency services, cheques and a VISA card with a daily limit of 10.000,- Euro to withdraw cash at any ATM worldwide. There is no check on your credit history. Offshore banks offer the highest level of privacy protection and are tax free.

optional | add-ons
creation of a company logo	49,- Euro
company rubber stamp	49,- Euro
company seal	49,- Euro
company name plate	49,- Euro

recurring fees from 2nd year on
company renewal	990,- Euro
incl. maintenance
incl. registered office
incl. registered agent
incl. offshore flat tax

Contact us

We are always glad to receive your phone call. Our team of experts are on hand to answer any questions you may have, free of charge and without obligation. So don't hesitate to contact us.

Phone: +44 (20) 7117 0 700
It is currently  in London

Office hours: Monday to Friday (UK time)
9.00 am to 12.00 noon and 1.00 pm to 6.00 pm

If you prefer you can also contact us using the below message box or Email us. We always try to answer the same day. Are you an existing client of WSR? Your Email address: Your Message: