Setting up a Foundation

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A public deed or a will can only constitute a foundation, if a ‘general act’ takes place to establish a foundation, it must be published by a public notary and subsequently registered in the Public Registry.

The minimum endowment of money or property to set up a foundation is €1,165 for a latvia mobile database private foundation, or €233 for a public foundation established exclusively for a social purpose or as non-profit making, and must contain the following information:

The name of the foundation, which name must include in it the word ‘foundation’;
The registered address in Malta;
The purposes or Objects of the foundation;
The constitutive assets with which the foundation is formed;
The composition of the board of administrators, and if not yet appointed, the method of their appointment;
A local representative of the foundation is necessary, if the foundation administrators are non-Maltese residents;
Designated legal representation;
The term (length of time), for which the foundation is established.
A foundation is valid for a maximum term of one hundred (100) years from its establishment. Except when foundations are used as collective investment vehicles or in securitisation transactions.