Legal Foundation: Recognition
In a so-called foundation business, the founder determines the name, registered office and organs of the Foundation and undertakes to provide it with a foundation's assets (usually cash, securities or real estate) from which the foundation's proceeds are used to is financed. A foundation statute also prescribed by the founder regulates the internal organization. It is possible to make it under the living or even in a will.
The Foundation acquires its legal capacity through state recognition.
For foundations that are to be based in Lower Saxony, the foundation business and the statutes must be submitted to the foundation authority. It is recommended that you contact the Authority before the final application is made. Recognition for the Foundation is granted if the foundation law requirements are met.
The foundation supervision of the country ensures that the foundations are managed in accordance with the laws and the foundation statutes. Supervision should be handled in such a way that the decisiveness and responsibility of the members of the foundation bodies are not affected. It ensures that the will of the donor is permanently observed or not changed more than necessary.
Who should I contact?
The responsibility lies with the government representation of the Lower Saxony Ministry of Home Affairs and Sport, in whose area of responsibility the future foundation is to be located. In the case of ecclesiastical foundations, recognition is carried out in agreement with the church authority.
Which documents are required?
Documents may be required. Please contact the appropriate body.
What are the fees?
Fees may apply. Please contact the appropriate body.
What deadlines do I have to pay attention to?
Deadlines may have to be observed. Please contact the appropriate body.
Author
The text was automatically translated based on the German content.
The text was automatically translated based on the German content.
