What is a support fund. Charitable Foundation, European Foundation and Aid Foundation. What is a fund? What is a European Foundation

Humanity lives in a changing reality, so it is quite difficult to survive without kindness and compassion. Poverty, disease, military conflicts, high mortality - all this pushes people to realize that life is fleeting and it is necessary to help those in need. Charity develops responsibility, reliability and kindness in a person.

In order to deliver funds to those in need, people organize charitable organizations. A charitable foundation is a type of organization operating on the basis of a charter, the main activity of which is charity. The number of participants who manage the fund is stipulated in the charter. As for working capital, they can be formed by founders or benefactors.

So what is a fund and what does it do? Now there is a huge number of organizations of a similar orientation that help schools, sick children, war veterans, the poor, drug addicts, AIDS patients, the disabled, the elderly.

Internationally renowned charities are:

World Wildlife Fund.
Charitable Foundation. Josiana K. Lilly.
Silicon Valley Foundation.
Chulpan Khamatova Charitable Foundation.
Gerd Bucerius Foundation.

What is a European Foundation?

There is a fairly large number of organizations created under the auspices of European Union (EU). All of them provide assistance at the state and regional level. The most famous are:

European Fund for Strategic Investment, which will invest in projects related to the creation of the EU's energy, digital and transport infrastructure. Special attention he devotes to scientific research and innovative technologies.
European structural funds and cohesion funds, which are the main financial instruments in shaping the regional development of the EU member states, geographically located in Central and Eastern Europe.
The European Social Fund, which was established in 1959 and oversees employment-related issues.
European pension Fund - carries out activities related to social payments to the population.

Targeted charity

In world practice, there is such a concept as an aid fund. A number of questions arise. What is a relief fund? What does he do? Who can be the founder? The answer is very simple: it is a type of charitable organization that provides assistance, for example, to children with cancer, drug addicts, AIDS patients.

Charity in business

Charity refers to a more familiar and modern word - hobby or sponsorship. Since they are engaged in this type of activity in their free time from work, spending various means on it, in return without acquiring any material income, with the exception of spiritual and positive tranquility.

Nowadays, more and more often you can find close interaction between business and charity. Such social assistance both the owners of large monopolies and small business entrepreneurs are involved. Often, many companies hold public charity events to positively influence their reputation and image. To do this, in all kinds of commercials or on bigboards, the consumer of certain products is informed that part of the funds from the sold goods will be given to charitable foundation... In this case, the reputation of the company rises, and responsive customers are additionally lured to help people who need help.

Many entrepreneurs, participating in charity, donate the gift directly, without involving intermediaries. After all, what is a fund? He rarely advertises for his benefactors. In such cases, one should not condemn such businessmen, because, in addition to beautiful advertising of their products, they still help people.

Charity work can be done not only by businessmen, but also ordinary peoplewho have a desire.

The relationship between business, fate and charity

For some business owners, charity exists as a volunteer activity. She does not carry any pitfalls and is sincere from the heart.

Some businessmen think charity is embarrassing. But there are other reasons for not disclosing this kind of activity. If society finds out about a single case, then more petitioners will appear, for whom the limit is not calculated. And accusations will begin that someone is being helped, but others are not.

It is important to remember that charity not only helps people, but also changes their worldview and solves global issues and problems.

One of the forms is not commercial organizations, operating in our country and around the world, are foundations.

The Foundation a non-profit organization is called, which is created by the founders for the purpose of material support of certain types of activities - charitable, socio-cultural, educational, scientific, managerial.

One of the main principles of the foundations' functioning is the achievement of public benefit in its most diverse manifestations - health care, protection of their rights and legitimate interests of our compatriots, provision of legal assistance, and resolution of conflict situations.

The definition of “foundation” is given in the Federal Law “On Non-Commercial Organizations”. Consequently, like other NPOs, the foundation of the fund's activities cannot be profit-making, and when it occurs, the income should be distributed among the fund's participants.

Both citizens and legal entities can act as founders of the fund. The property complex of the foundation is formed on the basis of their charitable contributions. Material assets and assets transferred to the foundation by its founders become the property of a non-profit organization. Foundations do not offer membership.

The foundation's activities are strictly targeted and must strictly comply with the provisions stated in its main constituent document - the charter. At the same time, the fund has the right to carry out entrepreneurial activities and create with itself business companies, but only if they are consistent with the public benefit goals for which the foundation was created. For the implementation of certain types business activitiessubject to compulsory licensing, foundations - as well as other legal entities - must obtain appropriate permission.

The main laws that govern the foundations when carrying out activities:

Federal Law "On Non-Commercial Organizations".
Federal Law "On Public Associations".
Federal laws on certain types of funds (for example, Federal laws "On the Fund for Assistance to the Reform of Housing and Communal Services", "On charitable activities and charitable organizations", etc.).

From the point of view of the organizational and legal form, funds are legal entities and become so from the moment state registration... The first document, from which the foundation's existence begins, is the decision of the founders to create it. As a rule, foundations are created without restrictions on the term of their activity. Some foundations develop over time a more or less extensive network of regional offices.

Like any subject of the legal field, the foundation has rights and obligations. Mandatory requirements include the presence of an independent balance sheet, a seal with an official name, maintaining accounting and reporting and regular reporting of activities government bodies... In addition, the foundation must publish reports on the use of its property in the media.

Foundation founders

Sometimes it happens that the founders of the foundation are directly involved in the life of the foundation only at the stage of its creation. Let us remind you that they decide to create a fund and form its constituent one. It happens that they also give their name to the foundation. In the future, the foundation and its founders do not have any legal obligations towards each other: the founders are not responsible for the obligations of their offspring, and the foundation is not responsible for the obligations of its founders. The founder of the foundation has nothing to do with the profit of the organization, if any.

Nevertheless, the founders often belong to the board of trustees - a special structure that monitors the activities of the foundation, the targeted use of property, and the work of executive bodies. Council members work exclusively on a voluntary basis.

The number of founders of the fund is not limited: it can be one person, or it can be a fairly large group of people. However, throughout the entire activity of the foundation, their number remains unchanged, except for cases beyond the control of the foundation - for example, the death of one of the founders of the foundation or the reorganization of the legal entity that acted as the founder.

Although the Civil Code does not provide a clear classification of foundations, their types are often determined by the composition of their founders. Hence the following are distinguished:

Private foundations. One legal entity or members of one family act as their founders. The fund is created at the expense of a private person. Despite the richest traditions of charity in Russia, as such, private foundations in our country began to appear only in the late 90s. Among the most famous are the Volnoe Delo Foundation of Oleg Derepaska, Vladimir Potanin, and the Timchenko Foundation. Often, funds of this type do not implement social projects independently, are the founders of special grants for public organizations, universities, etc.
Corporate funds. Their founders are legal entities - separate companies or associations. Most often, the creator of the fund is one. Such funds are created with the funds of companies. The funds are transferred from the company's annual profit or the parent company forms the capital of the fund. Often the activities of a corporate fund are a continuation social mission company and helps to strengthen the image of a socially responsible business.
Public foundations established by a group of individuals or public associations. This form public association also does not imply membership. Usually public funds are engaged in collecting and accumulating funds - contributions and donations - with the aim of their further distribution for solving socially significant problems. The most common are public charitable foundations.
State funds. As the name suggests, the funds are funded from the state budget. An example is the Russian Foundation for Basic Research, which supports scientific research activities. Foundations of this type have a narrow focus and are engaged in the distribution of grants for the implementation of activities in accordance with their area of \u200b\u200bactivity.
Municipal funds. They are created by the decision of the local government with the aim of effective use financial resources municipalities. For example, now municipal funds for small business support are quite widespread. The presented classification does not mean that funds can be presented exclusively “in pure form”. Often the composition of founders is mixed, and then we can talk, for example, about state-public funds, etc.

Fund management bodies

As already mentioned, the obligatory structure of the foundation is the board of trustees. In addition to him, the fund has the supreme governing body of the fund - the Fund Council. He determines the priority areas of the non-profit organization and ensures control over the observance of the goals of the foundation. The permanent collegial body of the foundation approves the annual balance sheet and financial statements, decides to establish branches and representative offices of a non-profit organization in other cities and regions. The executive body can be individual or collegial. His competence includes the current work moments and the work of the foundation.

FUND can be defined as a legal entity with all its inherent characteristics, as a rule, created in a narrow specific purposes either to maintain investment activities, or for the preservation, management and augmentation of any property and / or money of a previously known affiliated group of persons. Investment funds, created by analogy with Russian investment institutions for the purpose of investing free funds in various financial instruments, such as shares, bonds, portfolio investments, dealing operations, deposits, etc., have a slightly different purpose. Also, investment funds can be created to sell their own financial instruments, quote their shares on the stock exchange, etc. Before proceeding directly to the review and answers to the questions, it seems appropriate to define in terms, since the variety of the latter and their varieties in different countries lead to the need to group names according to the criteria of some generic characteristics.
Mutual Fund A mutual fund, the pooling of funds from a number of individuals for specific purposes, usually investment.

Public Fund A public fund that offers its services to an unlimited number of people.
Private Fund A private fund created by a known circle of persons to serve the financial and other purposes of the latter.

The Stiftung (German) Foundation (English) A kind of foundation in the Principality of Liechtenstein. The financial company is essentially the same investment fund or "truncated" bank.
The trust in its direction and content is very close to the foundation, but is based on a different legislative material of the trust management of Anglo-Saxon law.

In terms of their intended purpose, Foundations can be family, charitable, trusteeship, personal, investment, etc.

Foundations are close in meaning and purpose to:

To a family or other trust fund - Trust - a legal entity or simply an agreement created / concluded for the purpose of trust management of other people's property and / or funds.

To the Investment Fund - Financial company.

To an ordinary fund - a holding company, that is, a company whose purpose is to be the owner of property, funds, property rights, trademarks, patents, etc. Luxembourg, in particular, offers interesting opportunities in this respect.

In connection with the above, at the end of the review, the features of a licensed professional financial company and a professional trust on the example of Cyprus. It is also possible to create a private trust or a financial company serving a previously known limited circle of affiliated persons.

According to the licensing criterion, funds can be subdivided into those that can receive a license or not. Main tax and other advantages: it is a legal instrument for resolving inheritance issues, removes the property placed in the fund from the reach of creditors and state and law enforcement agencies allows you to legally distance yourself from your property, leaving the necessary level of control and management
the fund can be used as a private investment company to accumulate funds and conduct investment activities usually do not pay capital gains tax (profit)
dividends and interest paid to owners are generally taxed at reduced or flat rates, or more often not at all
as a rule, foundations do not pay inheritance and gift tax. How does the person who opens such a fund manage his funds and how much they remain his funds.

It seems advisable to answer this question in relation to two main schemes:

A closed scheme - when the owner of funds does not want third parties to know who owns the Fund's funds in reality, but in good faith believed that they belong to the Fund itself, or at least could not prove otherwise and establish a legal link between property and real (Further in the text - Beneficiary) by the owner. In this scenario, the Beneficiary anonymously places the property in the created Fund with the help of the institution of nominee founders and the same officials Fund. For control and management purposes, a Power of Attorney may be issued in favor of the Beneficiary and / or a trust deed or other agreement may be signed.

If the Beneficiary's property is officially registered in his name, it is not recommended to alienate it directly in favor of the Fund. It seems more expedient to have a scheme in which such property is first alienated to a third party (for example, a controlled offshore company or another controlled entity that is not legally connected or affiliated with the Beneficiary), and then acquired by the Fund on a general basis. When it comes to funds, then additional control can be established by retaining the sole signature right in the bank or by limiting the right to dispose of funds by officials by a special agreement.
Open circuitin which the Beneficiary is not afraid to openly own and dispose of property. In this case, all rights, obligations and responsibilities are determined in relation to the charter of the Fund and the current legislation of the country of registration. In connection with the part of the question: "to what extent do they remain its means", I would like to emphasize that the Fund is always a legal entity, which means that the property transferred to it becomes its 100% property with all the ensuing consequences.
Questions about a slightly different "how much" scheme of ownership and disposal of property are discussed below on the example of a professional Cyprus trust.

Who is involved in the opening of such funds.

Fund registration is carried out mainly by lawyers or they are also called specialized secretarial firms - incorporators that have the appropriate licenses, permits, experience and skills.

As a rule, these firms already have structures or associate partners at their disposal that can act as nominee founders or officers. For example, in Liechtenstein, only licensed attorneys deal with such matters, while the functions of “nominees” are performed by licensed professional trust companies. In the event of any official proceedings, state and law enforcement agencies only turn to lawyers for appropriate explanations. The latter have the legal right, even in court, to refuse to answer questions concerning, in particular, a fiscal nature, referring to the institution of "advocate secrecy". Also, the law protects the right of "fiduciary", that is, trust ownership for professional trust parent companies... An additional 100% guarantee of anonymity may be the fact that the Foundation in Liechtenstein may not be registered, but the documents may be submitted to the Register's Depository, which will be equated to its official creation. Information about such a Fund is not entered in the State Register and is not available to third parties. Such the highest degree of legislative protection professional organizers corporate structures, along with a favorable geographical location in the center of Europe and more than half a century of political, economic and legislative stability, allowed Liechtenstein to come out on top in the world according to the above schemes. Suffice it to say that some law firms have been providing this kind of services over the past 70 years and include former members of the country's Supreme and Constitutional Court, ministers and other officials of the country who are vitally interested in maintaining this "status quo".

How is it done technically.

In answering this question, we understand it as a working procedure directly related to the creation and registration of the Fund. Of course, each country has its own local characteristics, but in general, to get started, you need to perform approximately the following steps:

The beneficiary determines:

The country in which the fund will be established;
Company name;
Company structure: (Shareholder; Director);
The size of the authorized capital;
The goals of creation, directions of activity and profile;
What documents and in what form he wants to receive;
Bank in which the account will be opened;
Who will manage the account;
Who will be the declared beneficiary for the lawyer;

If the Fund is subject to licensing (as a rule, this is required for investment funds, for example in the Bahamas) or is created in Liechtenstein, then additional procedural conditions will be:

preliminary payment of the authorized capital;
installation information on the beneficiary;
bank recommendations for the Beneficiary;
filling out various forms;
signing special agreements and declarations with a lawyer.

After the preparatory stage and payment for services, the rest of the work is performed by your lawyer or incorporator, after which you are presented with the previously agreed documents of the Foundation.

An exact, exhaustive list of documents and information can only be determined for a specific case.

What documents are required to open or form such a fund.

As a rule, to register a fund, in addition to the above, you must submit:

apostilled originals or copies of constituent documents for founders, if they are legal entities;
Letter of Good Standing, if the parent company is more than six months old;
copies of the passports of the founders; brief autobiographical information on the founders - individuals and Beneficiaries;
apostilled powers of attorney from the founders (for Liechtenstein);
If possible, bank references (Bank Reference).

Here, as an example, we will provide some information and documents required to create an investment fund in the Bahamas. An appeal to the competent authorities should be accompanied by approximately the following set of documents:

The prospectus, which contains an indication of the shareholding in respect of all material assets of the future fund, as well as detailed information that will allow the prospective investor of such a fund to make decisions on whether or not to acquire shares or a share of the fund's shares.
A completed application form, which must contain:

the name of the fund (that is, the name of the investment company), the names of the branches (if any), an indication of the structure of the fund; relevant legislation, date and country of registration;
current quotation on any stock exchange, as well as a permit issued by any other regulatory authorities;
start date of business, time and place
list of commercial transactions by days, weeks or other time indicators;
property appraisal;
pricing in the initial, future or some other period;
information regarding offers for the sale of shares or lots of securities in the Bahamas; structure of commissions and expected dividends;
information about the manager, trustee, trustees, investment advisors, auditors, attorneys, etc.

Information for submission to the Bahamas Securities Authority (BAHAMAS SECURITIES BOARD), which certifies that the applicant for the license meets (or will meet) the requirements for a licensed investment fund manager, ensuring the operation of the main representative office in the Bahamas.
Information for submission to the Bahamas Securities Authority, which guarantees that the founder (individuals or legal entities applying for and interested in obtaining a license) is solvent and has sufficient experience in this type of activity.
Other documents deemed necessary by the Bahamas Securities Authority.

The information provided to the Bahamas Securities Authority must confirm that the business of the investment fund and any commercial proposal the share of shares in it will be carried out and sold in the proper form.

An application for an investment fund administrator license (MUTUAL FUND ADMINISTRATOR "S LICENCE) must be accompanied by the following documents:

An application form with the following information:

the name of the applicant (the name of the manager is meant), his address, telephone number, fax number and other data for communication with him;
the name of the type of license required (unlimited, limited or free);
the address of the applicant's main office in the Bahamas;
the names of agents in the Bahamas;
basic information about the company (place of incorporation, paid share capital etc.).

Information to the Securities Authority that the applicant has sufficient experience in managing controlled investment funds, is solvent and will properly manage such funds;

Proof that the applicant has fully paid up equity capital of at least US $ 500,000 or US $ 150,000 and liability insurance coverage of at least US $ 350,000

Other documents deemed necessary by the Securities Authority.

Notes
An investment fund administrator's license authorizes the owner to carry out entrepreneurial activities as an investment fund manager in relation to an unlimited number of controlled investment funds. However, in the Bahamas, a limited investment fund administrator license may also be issued, which authorizes the owner to conduct business as an investment fund administrator only in relation to those controlled investment funds that are specifically indicated in the license.
An investment fund may conduct business in or from the Bahamas if it is an investment fund holding at least $ 50,000 in shares to be sold to a prospective investor, or given share shares are listed on the stock exchange (including the over-the-counter securities market), which is stipulated in the announcement of the Securities Department, published in the official local newspaper "GAZETTE".

There is no specific requirement for a prospectus. However, its form and content must comply with the governing laws of the country where the fund's shares will be sold.

To obtain permission to establish a company with the word "FUND" or "INVESTMENT FUND", the prospectus must have the following headings:

PROSPECT FUND;
NAME OF THE INVESTMENT COMPANY;
DETAILED INFORMATION ABOUT THE FOUNDERS (FOUNDERS) OF THE COMPANY: citizenship, origin, names, addresses and short biography directors, officers and managers (including audited statements of income and loss for the last financial year, as well as a balance sheet or statement of assets and liabilities on the date of application (at least for the last 6 months);
main types of planned entrepreneurial activities of the fund;
place of business;
the amount of the initial investment of the founders;
the value of the securities to be sold and the place of sale;
type of securities for sale (stocks or bonds);
maturity dates and dividend rates;
the location of the offices from where the fund will be managed;
guarantees confirming the reliability of the investment fund;
taxation and risk factors.

The prospectus should state the number of shares or bonds held for sale, now and in the future. It should also contain information about the initial issue of shares or bonds and the timing of their registration on the stock exchange, after which the fund becomes a public fund (PUBLIC FUND). In this case, the auditor's assurance is required that at the moment the applicant is going through all the formalities to obtain permission to be registered on the stock exchange market, where the fund's shares will be sold. (This information is not intended for public use).

This list is not exhaustive. An exhaustive list is available upon request.

How is the legal support of the Fund's activities carried out.

Legal support of the fund's activities should be understood as:

Expenses and payments inextricably linked with its existence as a legal entity, which are determined by applicable law. As a rule, they are determined from the following components:

registration fees and payments;
notary fees;
annual fixed government fees;
payment for the services of a lawyer, nominee founders and officials, accountants and auditors, if required to submit reports;
payment for the provided legal address;
secretarial services (fax, telephone, mail).
Payment for services that are additionally requested by the Beneficiary, such as:
signing contracts and other business papers;
negotiating on behalf of the Fund;
money transfer;
oral and written consultations;
execution of other orders upon request;
execution of copies of constituent documents, extracts from the register, etc.

The part of the work that is provided for in clause a is performed by the lawyer automatically, that is, without the request of the Beneficiary and the latter should only pay the bills on time. The rest is planned by the Beneficiary independently and, after preliminary consultations with a lawyer, is brought to the latter in writing for execution.

How much can it cost to maintain such a form of investment (salary and taxes)?

This question seems to be rather complicated, since prices exist only in relation to a specific case, therefore we propose here to evaluate only the order of numbers using the example of a scheme for Liechtenstein as one of the expensive jurisdictions. Simple Fund prices in the island states range from USD 3500 to USD 5000.

Prices for a licensed Investment Fund require specific prior consultation with a lawyer.

The terms for the creation of the Fund fluctuate around 1 month, except for the licensed Fund.

Estimated costs based on the results of meetings in Liechtenstein with 6 law firms.

Foundation with a minimum capital of CHF 30,000 (payable in advance and can be used after registration). Prices are quoted in CHF-Swiss Franc (1USD approximately \u003d 1.4 CHF)

The first invoice includes:

Registration services and costs

Registration Fee Formation Fee

Public Registrar dues CHF 6000

Capital tax

0.1%, but not less than CHF 1000

With capital over 10.000.000 CHF Stamp Duty on the Capital
- 0.05% CHF 1000
Legal address
Domiciliation Fee Administration Services
Administration Fee CHF 4500
Nominee Founder Nomenee Shareholder CHF 500
Nominee Director Nomenee Director CHF 500
Apostille for 1 document Apostille CHF 100
Total at max. price option: CHF12600
1 Director + 1 Founder + 3 apostilled documents
Note:
a) documents are prepared, as a rule, in German;
b) prices for services increase slightly with the growth of mouth. company capital;
c) prices include services for opening a bank account in Liechtenstein;
d) Prices do not include VAT 6.5% but can be avoided.
2nd invoice - every December of the year - Annual support of the company in good condition.
Accountant services On an hourly basis depending on volume financial activities (For the preparation of the Annual Declaration)
Official auditor Not needed
Nominee shareholder - see below;
Nominee Director - see below;
Legal address and administration services - see below;
Capital tax only 0.1% per year but not less than CHF 1000;
Work on client's request: CHF / hour
Partner CHF 400 per hour
Accountant CHF 200 per hour
Secretary CHF 150 per hour
Note: If on the 1st invoice of services for legal. address, administration and nominee service will be included on a calendar basis, and not until the end of the year of incorporation, then the second invoice will contain only the prices for the services of an accountant and an auditor.
What problems may arise during the operation of such a fund for a company or persons who have invested in the fund.

This question is rather rhetorical, since the answer could be the phrase - "any problems may arise." At the same time, we will try to summarize the main areas that seem important to us when working with the Fund and that our Clients have encountered:

Accounting for the current legislation of the country at the location of the property, if it is movable or immovable property for:

property taxes and taxes accompanying alienation (profit; VAT; property tax, which is inherited or donated; tax on the purchase of vehicles;
state fees and charges);
the very possibility of alienating this property to the Fund as a non-resident;
the list of documents and the procedure for their registration, which will be required by the relevant government agency; notary;
seller-buyer from the Fund;
If it is cash:
control of the currency legislation of the country from where they will be transferred and the purpose of payment;
the ability to reasonably explain to the bank and the attorney (nominal manager) of the Fund the legality and sources of origin of funds, especially if these are large amounts;
preliminary warn the bank and the lawyer about the imminent receipt of a large amount of money, explaining the sources of their origin.

Common problems:

do not try to carry out any illegal actions in the presence of denominations;
clearly regulate the limits of powers of denominations when working on behalf of the Fund and managing a bank account;
if possible, during the first year of activity, visit the office of a lawyer and your bank, personally meeting people on the spot and specifying all the details of cooperation (if, of course, this is possible for a number of reasons);
always keep all correspondence and copies of all documents;
not delay payment of invoices for services and mandatory payments.

Is there a gradation of funds by the amount of invested funds and how the amount of invested funds affects the work of the fund.

Officially, such a gradation does not exist. At the same time, there are a number of features that are inherent in Funds with large assets:

Banks prefer and like to work with such Funds, because they are interested in this, and therefore one can expect certain advantages and a more attentive attitude, up to personal service.
Lawyers increase, but not fundamentally, the cost of their services, explaining this with increased responsibility and the relatively large time spent on servicing such a client.
Government registration costs and capital tax are also correspondingly higher.

In which countries, states, offshore zones such funds are most often registered and why, where is it better comparative analysis... The most popular countries in terms of fund legislation:

Bahamas
The Bahamas Mutual Funds Act, 1995 The Bahamas Mutual Funds Regulation, 1995
British Virgin Islands
Jersey and Guernsey
Liechtenstein
Some other island states.

In principle, key features across multiple countries are broadly addressed in the responses to the other questions in this survey.

Here we will once again try to give the criteria that should be kept in mind when choosing a country in which the Fund will be created.

Do I need a license;
Is there a desire to achieve complete anonymity of the contribution;
Will the money of outside investors, unknown in advance, be attracted;
Is there an agreement with Russia to avoid double taxation;
Does the issue of prestige and unwillingness to appear “offshore” matter;
What kind of documents from the country of registration may be required in Russia;
How large (frequent) will be the involvement of nominee managers in fund management;
Will it be necessary to prove in any way that the fund in the country of registration pays any taxes and is tax registered?
What is the tax structure in the country of registration.

What features may appear when registering such funds in each individual country. Liechtenstein.

the fund may not register, but only submit documents to the depository;
instead of all taxes, a fixed tax on capital is paid;
an audit is not needed, only a Declaration drawn up by an accountant is submitted;
complete anonymity is possible when creating a fund;
an advance payment of the minimum fund capital is required.

Bahamas.

foundations are of several varieties;
it is possible to obtain a license for an investment fund;
costs and payments are kept to a reasonable minimum;
to manage the fund it may be necessary to create a special management company, activity
which is also subject to licensing in some cases;

The creation and registration of funds in most other island states is similar and does not have any fundamental features compared to those discussed here, which could further interest an investor.

Control mechanism for spending funds. What are the guarantees against theft of money.

In answering these questions, we assume that we are referring to a situation in which the Fund is managed by

a third party whose activities it is advisable to control.

Directions of control

Signing a separate detailed contract with the Fund Manager, which provides for all the necessary restrictions and control points in the activities of the latter. Full or partial removal of the Manager from the possibility of disposing of funds. Creation of a scheme of the Board of Directors or other collegial executive body, when financial documents and fundamental decisions are adopted / signed and become valid only with two or more signatures. Creation of a scheme in which major decisions and account management require prior written approval from the founder or Beneficiary. Establishing regularity in written reporting on the work done for the positions of interest with the attachment of all primary documents. Conclusion of a contract with an independent audit firm for the current or one-time external audit of the fund and control support. Creation of a scheme that allows you to personally control and / or manage funds. Creation of a scheme in which the fund is managed by a person by power of attorney in which the limits of authority are rigidly spelled out. Creation of the rules of the fund. How the fund is managed, ways to adjust the management rules. Both of these issues generally relate to one thing - how the fund works.The structure and competence of management bodies, as a rule, is a two-tier system according to the principle: Founder or General meeting of the founders are controlled by the Fund Manager or other collegial executive agency... For control purposes, other control bodies may be created, such as the Board of Trustees, the Auditor and others. It should be noted that lawyers are extremely reluctant to respond to requests for redesigning the structure of standard founding documents, considering this as painstaking unplanned legal work, which will entail significant overhead hourly fees. On the other hand, it is often difficult to legally translate and understand the structure of their standard documents from the point of view of our legislation due to the lack of direct analogues. The rules for the operation of the foundation are established in the charter and differ little from the usual structure of constituent documents. The main differences are formulated in terms of goals, objectives and areas of activity. Adjustment of the management rules can take place by making changes to the constituent documents, signed contracts with Directors and powers of attorney. Adjustment of the management rules can take place by making changes to the constituent documents, signed contracts with Directors and powers of attorney. What does the mechanism for closing the fund look like, who can close it, is the consent of someone other than the manager or owner of the funds needed to close it? The fund can be created for a specific period or for an unlimited period. As a separate note, it should be noted that the law knows of cases of irrevocable trusts. If the Fund is created without a time limit, then the actual decision on its closure must be made by the Beneficiary, who gives the appropriate orders to the lawyer / incorporator. The latter prepares all the relevant documents and, according to the instructions of the Beneficiary, disposes of the money and property remaining after the liquidation. Nobody can object to the closure of the fund. Any of the fund's creditors can claim liquidation property rights. If the lawyer's bills or annual government payments were not paid on time, then after a certain deadline, the Fund may be struck out of state register... In practice, all actions are carried out through a local lawyer / incorporator, so you should listen to his recommendations. Can dividends from the fund's work be used at your own discretion? Yes, you can, since otherwise is not provided for by current legislation. It is only necessary to remember that in the case of making a profit on the territory of another state, such activities of the fund may lead to certain tax obligations under the legislation of the country where the profit is made (for example, Russia), unless otherwise provided by a bilateral agreement on taxes between these countries. You should also pay attention to the possibility of the appearance of tax liabilities for an individual within the framework of his gross annual income, if dividends are redistributed in his favor. The instructions on the procedure and procedure for distribution and disposal of profits and dividends are given by the Beneficiary, unless otherwise specified in advance between him and the fund managers.

The mechanism for the heirs to take possession of money.

According to the legislation of the vast majority of countries, inheritance issues are resolved in relation to the legislation of the country in the territory where the inheritance was opened.

Some solutions to the problem

When it comes to cash, most banks have standard forms forms for such a case. More complex cases should be discussed separately with a lawyer, having worked out the form and content of the will. As a safety option, it can be proposed to include the future heir among the initial Beneficiaries.

With the help of a local lawyer, a standard will is drawn up, certified in accordance with the established procedure. We doubt that the Beneficiary's movable or immovable property will be located on the territory of the island states, and therefore a detailed analysis of the inheritance procedure should be considered in conjunction with the laws of that country, as mentioned above.

Purpose of the organization, possible types of support

Today, many start-up entrepreneurs who want to start their own business are afraid to take the first step and are in no hurry to engage in small business. The main reason for this is possible problems with finances in the future. Many people lose their way to financial independence due to their ignorance.

With the assistance of the president, a fund for entrepreneurship support was created in our country, which has a whole arsenal of programs that can help a young entrepreneur to open his own business. All programs are controlled by officials and the state, it is absolutely safe.

However, not all programs function the way people would like, but it is still quite possible to get financial and state assistance for an entrepreneur. So what does it take to get help from the state?

Objectives of the Entrepreneurship Support Fund

This structure is a set of non-profit and commercial organizations. In this area, they act as a contractor. There are investment funds, business schools, banks, and government agencies.

They are ready to help any entrepreneur who is ready to comply with all the rules and regulations established by the state. Moreover, every year cooperation between businessmen and the Entrepreneurship Support Fund is only simplified, which means that financial assistance has become even more affordable.

State aid

If you have already registered your organization or entered the register as an individual entrepreneur, you have the opportunity to get under the program for supporting small and medium-sized enterprises and receive financial assistance - a subsidy for small businesses. However, please note that only entrepreneurs registered no more than two years ago can receive it.

In this case, you are a young entrepreneur and can count on government support. Businessmen of the capital can count on 500,000 rubles, while businessmen in the regions only 300,000.

The main condition of the program to support small and medium-sized businesses is co-financing. That is, you must besides financial aid invest your hard-earned money in the company's turnover. Moreover, the funds cannot be used for the personal needs of the entrepreneur, their intended purpose:

Payment for rented premises, industrial buildings. Required condition - this is that the premises should be owned by a private owner and its cost should not exceed 3600 rubles per 1 m2.
Purchase of equity capital.
Purchase necessary materials for production. For these needs, you can spend a maximum of 20% of the amount of financial assistance.

The entrepreneur is responsible to the state for all expenses; if necessary, he must provide a check stating that the goods were purchased for exactly that price.

The information presented above is strictly subjective. After all, each city has its own limits for financial support. Find out exactly what local governments have to offer your business by contacting your city government.

Rental benefits

In addition to the Entrepreneurship Support Fund, there are a number of organizations that contribute to the development of small businesses. City administrations can transfer premises on the balance sheet to young entrepreneurs on more favorable terms than private individuals.

Promotions and contests are held annually, the winners of which have the right to take advantage of this advantageous offer.

Summing up, it must be said that the entrepreneurship support fund really exists, this is not a myth. However, it takes a little thought and work to get paid. Don't be afraid to take the first step, start laying the foundation for financial independence now.

There are about 1.5 million registered charities and religious parishes in the United States. Over 2% of this country's GDP is spent on donations. Moreover, 76% of this money is from individuals. And such a public foundation sends a fairly significant part of charitable funds abroad.

The statistics of the Russian Federation are much more modest. The lion's share of official donations is made by legal entities, and from the profit from financial and economic activities. There are no exact numbers: the estimated annual payments range from $ 200 million to $ 1.5 billion. Many significant donations are also provided by banks.

What is a charitable organization?

According to the law, charitable organizations in Russia - non-profit organizationsthat have specific legal forms (public organizations, foundations and institutions). As for the taxation of charitable organizations, they are similar to other non-profit organizations (they are exempt from paying income tax in relation to earmarked income and have a number of benefits that apply to both the beneficiary and the benefactor).

The birth of charity

The first charitable organizations in Russia are considered to be monasteries, which Prince Vladimir ordered to engage in "contempt for the needy." Such a decree was issued in 988, and Ivan the Terrible created the first almshouse, which is the prototype of a modern charitable foundation. Funds for their activities were allocated from the state treasury. In addition, the obligation to give alms was assigned to the wealthy members of society. Peter the Great considered charity to be one of the important spheres of public life.

After the 1917 revolution, Russia's charitable organizations were abolished, and all their property was transferred to the people. In recent years, charity has been developing at an accelerated pace. Perhaps this is due to the fact that citizens have become more sensitive to the problems of others.

Financing

A non-profit charitable organization is required to register with the authorities, submit reports on activities, reflect the funds raised and spent, which are not subject to taxation. She should only use donations for charitable purposes.

Donation is the most popular way to help. In the Russian Federation, a public aid fund can be financed from five sources:

state aid;
grants, donations from individuals;
large business entities;
funds of municipal authorities and entrepreneurs;
family and private foundations are funded exclusively by private individuals.

Types of charities

In addition to the method of receiving funds, charitable organizations in Russia differ depending on the target audience:

charitable children's foundations created to help various categories of children. They help orphans, disabled people, children from children who suffer from various diseases. Foundations are also involved in giving out gifted children;
funds to help the adult population, for example, people with various diseases, refugees, disabled people, and so on;
charitable organizations to help the elderly, veterans, invalids and elderly patients, hospice patients.

Decided to entrust your money to a charitable foundation, but not sure if it will go to those in need? Various organizations operate in Russia, which are founded by both Russians and foreign investors. There are also charitable social programs of commercial organizations. Below are the stable foundations that carry out charitable activities. They have personal sites and regularly submit reports on the work done.

Major charitable organizations in Russia

Collection (Union of Charitable Organizations of Russia) is 15 years of work, half a billion of raised funds, dozens of successful projects and thousands of those in need who have received help from the foundation. The collection is supported by famous actors, athletes, politicians.

Another large organization charitable aid - The National Charitable Foundation, which was founded in 1999 at the initiative of President V.V. Putin.

Initially, the fund was called the "National Military Fund" and provided all possible assistance to servicemen of various ministries and departments of Russia, members of their families, veterans and other persons. In 2002, the foundation was classified as an organization that provides one-time humanitarian assistance.

Multipurpose charities

One of the largest charitable foundations, the Union of Charitable Organizations of Russia, unites more than two hundred different target areas, including volunteer and public programs. Provides assistance to a broad category of citizens.
Also large fund on the charity market - ROSSPAS. Provides assistance to people with serious illnesses. In the area of \u200b\u200bhis attention are immigrants, disabled people, orphans, large families and
There are funds that are carried out for several categories of those in need at once. For example, the national charitable organization "Dobro" provides assistance to large families with various diseases, orphans and those who suffer from drug addiction and alcoholism.

Charitable organizations helping children

There are exclusively children's charities such as Nastenka, Maria's Children, Children's Houses, Happy Hearts and many others. They help children who find themselves in a difficult life situation: the loss of parents, orphans, disabled people, sick with serious illnesses, those who suffer from congenital ailments.
The All-Russian Fund "Charity - Russia" unites more than a million individual entrepreneurs... It raffles out various grants and scholarships among young people and children, helps with public funds to nursing homes, hospices and hospitals, provides assistance to ordinary citizens who apply.

Other funds

Serious charitable organization - "Life". Her the target audience - children with cancer, blood diseases. Donations are used to buy medicines, consumable, research and diagnostics, chemotherapy courses, operations are paid for, it is provided to families.
Charitable organizations of Russia, founded by famous people in the country: politicians, show business stars, businessmen. This is an additional influx of investors and those who wish to donate. The most famous fund in this category is “Give Life”, which was founded by the popular actresses D. Korzun and Ch. Khamatova. Its goal is to help those suffering from cancer.
Public charitable organizations that help the disabled, the elderly, veterans, people and patients of hospitals and hospices are foundations for help "Vera", "Old Age in Joy", "A Collective of Caring People".
Large charitable organizations of the world also operate in Russia: Soros Foundation, International Women's Organization, AIDS Foundation and others.

Help is not easy, but very simple! This motto on the main site of the COLLECTION expresses the readiness to accept donations from any caring person in the best possible way. After all, the sooner the funds go to the account of the charitable foundation, the more chances there are to save someone's life.

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