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

Humanity lives in a changing reality, so it is quite difficult to survive without kindness and compassion. Poverty, illness, 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 a person's responsibility, reliability and kindness.

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 specified in the charter. Concerning working capital, then they can be formed by founders or philanthropists.

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

World famous charitable organizations are:

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

What is a European Fund?

There are 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:

The European Strategic Investment Fund, which will invest in projects related to the creation of the energy, digital and transport infrastructure of the EU. Special attention he devotes to scientific development and innovative technologies.
European Structural Funds and Cohesion Funds, which are the main financial instruments in shaping the regional development of EU Member States located in Central and Eastern Europe.
The European Social Fund, which was established in 1959 and oversees issues related to employment.
European Pension Fund- carries out activities related to social payments to the population.

Targeted charity

In world practice, there is such a thing as an aid fund. A number of questions arise. What is an aid fund? What does he do? Who can be a founder? The answer is very simple: it is a kind 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 - a hobby or sponsorship. Since this type of activity is carried out in their free time, spending various means on it, without acquiring any material income in return, with the exception of spiritual and positive peace.

In our time, it is increasingly possible to meet the close interaction of business and charity. Both the owners of large monopolies and small business entrepreneurs are involved in such social assistance. Often, many companies hold public charity events for positive impact on your reputation and image. For this, in all possible commercials or on billboards, the consumer of certain products is informed that part of the proceeds from the sold goods will be donated to a charitable foundation. In this case, the company's reputation increases, and responsive buyers who want to help people who need help are additionally lured.

Many entrepreneurs, participating in charity, make a gift directly, without involving intermediaries. After all, what is a fund? He rarely advertises 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 can be done not only by businessmen, but also by ordinary people who have a desire.

Relationship between business, fate and charity

For some business owners, charity exists as a kind of voluntary activity. It does not carry any pitfalls and is sincere from the heart.

Some businessmen consider that it is shameful to be engaged in charity. But there are other reasons for not disclosing this kind of occupation. 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 they help someone, but not others.

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

One of the forms commercial organizations operating in our country and around the world are foundations.

Fund a non-profit organization is called, which is created by the founders with the aim of providing material support for certain types of activities - charitable, socio-cultural, educational, scientific, managerial.

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

The definition of "fund" is given in the Federal Law "On non-profit organizations". Therefore, as with other NPOs, the basis of the fund's activities cannot be profit, and if it occurs, income must be distributed among the participants of the fund.

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

The activity of the fund is strictly targeted and must strictly comply with the provisions stated in its main founding document - the charter. At the same time, the fund has the right to carry out entrepreneurial activities and create business companies, but only if they correspond to the public benefit purposes for which the fund was created. For implementation certain types entrepreneurial activity subject to compulsory licensing, foundations - as well as other legal entities - must obtain appropriate permission.

The main laws that guide the funds in the implementation of activities:

Federal Law "On non-profit organizations".
Federal Law "On Public Associations".
federal laws on funds of certain types (for example, the Federal Laws "On the Fund for Assistance to the Reform of the 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 existence of the fund begins is the decision of the founders to create it. As a rule, funds are created without restrictions on the period 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 fund has rights and obligations. Mandatory requirements include the existence of an independent balance sheet, a seal with the official name, maintaining accounting and reporting and regular reporting on activities government bodies. In addition, the fund must publish reports on the use of its property in the media.

Fund founders

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

Nevertheless, the founders are often members of the board of trustees - a special structure that controls the activities of the fund, the intended 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 fund, their number remains unchanged, with the exception of cases beyond the control of the fund - for example, the death of one of the founders of the fund or the reorganization of the legal entity that acted as the founder.

Although the Civil Code does not give a clear classification of funds, often their types are determined by the composition of their founders. From here one distinguishes:

Private foundations. Their founders are one legal entity or members of one family. The fund is created at the expense of a private person. Despite the richest traditions of philanthropy in Russia, private foundations as such began to appear in our country only in the late 1990s. Among the most famous are the Volnoe Delo Foundation of Oleg Derepaska, Vladimir Potanin, 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 - individual companies or associations. Most often, the creator of the fund is one. These funds are funded by companies. The transfer of funds is made from the annual profit of the company 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 funds established by a group of individuals or public associations. This form public association also does not involve membership. Usually, public funds are engaged in the collection and accumulation of funds - contributions and donations - with the aim of their further distribution to solve socially significant problems. Public charities are the most common.
State funds. As the name implies, the funds are financed from the state budget. An example is the Russian Foundation fundamental research, which is engaged in the support of research activities. Funds of this type have a narrow focus and are engaged in the distribution of grants for the implementation of activities in accordance with their line of activity.
municipal funds. They are created by decision of the body local government with the aim of effective use financial resources municipalities. For example, municipal funds to support small businesses are now quite common. The presented classification does not mean that funds can be presented exclusively “in pure form”. Often the composition of the 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 fund is the Board of Trustees. In addition to it, the fund has the highest governing body of the fund - the Fund Council. It determines the priority areas for the activities of the non-profit organization and provides control over compliance with the goals of the foundation. The permanent collegiate body of the fund approves the annual balance sheet and financial statements, decides on the establishment of branches and representative offices of the non-profit organization in other cities and regions. The executive body may be sole or collegial. His competence includes the current working moments and the work of the fund.

A FUND can be defined as a legal entity with all the features inherent in it, as a rule, created in a narrow certain purposes or to manage investment activity or to preserve, manage and increase any property and / or funds of a previously known affiliated group of persons. Investment funds created by analogy with Russian investment institutions for the purpose of investing free cash 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, list their shares on the stock exchange, etc. Before proceeding directly to the review and answers to questions, it seems appropriate to define terms, since the variety of the latter and their varieties in different countries lead to the need to group the names according to the criteria of certain generic characteristics.
Mutual Fund Mutual fund, the pooling of funds of a number of individuals for a specific purpose, usually investment.

Public Fund A public fund offering its services to the general public.
Private Fund Private foundation, created in advance by a known circle of persons to serve the financial and other purposes of the latter.

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

According to their intended purpose, Funds can be family, charitable, trustee, nominal, investment, etc.

Close in meaning and purpose to the funds are:

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

To 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, provides interesting opportunities in this respect.

In connection with the foregoing, at the end of the review, the features of a licensed professional financial company and 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 criterion of licensing, funds can be divided into those that can be licensed or not. Main tax and other advantages: is a legal tool 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 behind 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 (on profits)
Dividends and interest paid to owners are generally taxed at reduced or flat rates or, more often, not taxed at all
as a rule, foundations do not pay inheritance and gift tax. How a person who opens such a fund manages his funds and how much they remain his funds.

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

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

If the property of the Beneficiary is officially registered in his name, it is not recommended to alienate it directly in favor of the Fund. It seems more appropriate to use a scheme in which such property is first alienated to a third party (for example, a controlled offshore company or other controlled entity not legally associated or affiliated with the Beneficiary), and then acquired by the Fund on a general basis. If it's about cash, then additional control can be established by retaining the sole right to sign in the bank or by limiting the right to dispose of funds to officials by a special agreement.
open circuit where the Beneficiary is not afraid to openly own and dispose of the property. In this case, all rights, duties 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 they remain its funds", 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 "to what extent" scheme for holding and disposing of property are discussed below using the example of a professional Cyprus trust.

Who is involved in the opening of such funds.

Registration of Funds 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 associates at their disposal that can act as nominee founders or officials. For example, in Liechtenstein, only licensed lawyers deal with such issues, and the functions of "nominals" are performed by licensed professional trust companies. In the event of any official proceedings, state and law enforcement agencies turn only to lawyers for appropriate clarifications. The latter have legal right even in court, refuse to answer questions concerning, in particular, a fiscal nature, referring to the institution of "lawyer secrecy." The law also protects the right of "fiduciary", that is, trust for professional trust founding companies. An additional 100% guarantee of anonymity can be the fact that the Foundation in Liechtenstein can not be registered, but documents must be submitted to the Depository of the Register, 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. This highest degree of legal 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 for the past 70 years and include former members of the country's Supreme and Constitutional Court, ministers, and other country officials who are vitally interested in maintaining this "status quo".

How is it technically done.

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;
The name of the company;
Company structure: (Shareholder; Director);
The size of the authorized capital;
Purposes of creation, directions of activity and profile;
What documents and in what form do you want to receive;
The bank where 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 (usually required for investment funds, for example in the Bahamas) or is established in Liechtenstein, then additional procedural conditions will be:

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

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

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

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

As a rule, in order to register a foundation, in addition to the above, it is necessary to submit:

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

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

A prospectus, which contains an indication of the shareholding in respect of all material assets of the future fund, as well as details that will enable the prospective investor of such a fund to make decisions on the acquisition or not of the acquisition of shares or a share of the shares of the fund.
A completed application form, which must contain:

the name of the fund (that is, the name of the investment company), the names of branches (if any), an indication of the structure of the fund; relevant legislation, date and country of incorporation;
the current quote on any stock exchange, as well as permission issued by any other regulatory authorities;
date of commencement of business activity, time and place
list of commercial transactions by days, weeks or other time indicators;
property valuation;
pricing in the initial, future or any other period;
information regarding offers to sell shares or parties valuable papers within the Bahamas, the structure of commissions and expected dividends;
information about the manager, trustee, trustees, investment advisers, auditors, lawyers, etc.

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

Information provided to the Bahamas Securities Authority must certify that the business activities of the investment fund and any offer by the share of shares in it will be carried out and sold in the proper form.

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

Application form with the following information:

the name of the applicant (the name of the manager is implied), his address, telephone number, fax number and other data for contacting him;
the name of the type of license required (unrestricted, limited or free);
the address of the main representative office of the applicant in the Bahamas;
the names of agents in the Bahamas;
basic information about the company (place of establishment, paid share capital etc.).

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

Evidence that the applicant has a fully paid up share capital of at least US$ 500,000 or US$ 150,000 and cash liability insurance coverage of at least US$ 350,000

Other documents that the Securities Department deems necessary.

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

There are no specific requirements for a prospectus. However, its form and content must comply with the regulatory laws of the country where the shares of the funds will be sold.

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

FUND PROSPECT;
NAME OF INVESTMENT COMPANY;
DETAILED INFORMATION ABOUT THE CREATORS (FOUNDERS) OF THE COMPANY: citizenship, origin, names, addresses and short biography directors, officers and managers (including audited income and loss reports for the most recent financial year and balance sheet or statement of assets and liabilities as of the date of application (for at least the last 6 months);
the 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 planned for sale and the place of sale;
type of securities for sale (shares 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 must state the number of shares or bonds held for sale in the present and future. It must 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). At the same time, the assurance of the auditor is required that at the moment the applicant is going through all the formalities for obtaining permission to be registered on the stock exchange market, where the shares of the fund 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.

Under the legal support of the activities of the fund should be understood:

Costs and payments inextricably linked with its existence as a legal entity, which are determined current legislation. As a rule, they are determined from the following components:

registration fees and payments;
notary expenses;
annual fixed government fees;
payment for the services of a lawyer, nominee founders and officials, accountants and auditors, if reports are required;
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 assignments upon request;
registration of copies of constituent documents, extracts from the register, etc.

That part of the work, which is provided for in paragraph a, is performed automatically by the lawyer, that is, without the request of the Beneficiary and the latter should only pay the bills in a timely manner. Everything else is planned by the Beneficiary independently and after preliminary consultations with the lawyer, it 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 quite complicated, since prices exist only in relation to a specific case, so we propose here to evaluate only the order of numbers using the example of the Liechtenstein scheme as one of the expensive jurisdictions. Prices for a simple Fund in the island states range from USD 3,500 to USD 5,000.

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 (subject to advance payment with the ability to use after registration). Prices are in CHF - Swiss Franc (1USD approximately = 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 Shareholder CHF 500
Nominee 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 6.5% VAT, but it can be avoided.
2nd invoice - December each. Years -Annual support of the company in good condition.
Accounting services On an hourly basis depending on the volume financial activities(For registration 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 annum but not less than CHF 1000;
Work at the request of the client: CHF/hour
Partner CHF 400 per hour
Accountant CHF 200 per hour
Secretary CHF 150 per hour
Note: If according to the 1st invoice for services for legal entities. 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 quite rhetorical, since the answer could be the phrase - "any problems can arise." At the same time, we will try to briefly list the main areas that we consider important 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:

taxes on property and taxes accompanying alienation (profit; VAT; tax on property transferred by inheritance or donation; tax on the purchase of motor vehicles;
state duties and fees);
the very possibility of alienating this property to the Fund as a non-resident;
a list of documents and the procedure for their execution, which will be required by the relevant state body; notary;
seller-buyer from the Fund;
If it's cash:
control of the currency legislation of the country from where they will be transferred and the purpose of the payment;
the ability to reasonably explain to the bank and the lawyer (nominal manager) of the Fund the legality and sources of origin of funds, especially if these are large amounts;
warn the bank and the lawyer in advance about the imminent receipt of a large amount of money with an explanation of 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 getting to know people on the spot and clarifying all the details of cooperation (unless, 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, there is no such gradation. However, 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 by increased responsibility and relatively large time costs for servicing such a client.
Government registration costs and capital taxes are also correspondingly higher.

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

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, the main features in relation to several countries as a whole are considered as part of the answers to other questions of this review.

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

Is a license required?
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 on the avoidance of double taxation;
Does the question of prestige and the reluctance to look "offshore" matter;
What kind of documents from the country of registration may be required in Russia;
How large (frequent) will be the involvement of nominal managers in the management of the fund;
Will it be necessary to somehow prove that the fund in the country of registration pays some taxes and is tax registered.
What is the tax structure in the country of incorporation.

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

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

Bahamas.

funds have several varieties;
it is possible to obtain a license for an investment fund;
expenses and payments are kept to a reasonable minimum;
management of the fund may require the creation of 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 be of additional interest to the investor.

Spending control mechanism. What are the guarantees against theft of money.

Answering these questions, we assume that we mean the situation in which the Fund is managed by

a third party whose activities it is expedient to control.

Directions of control

Signing a separate detailed contract with the Fund Manager, which provides for all 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 another collegial executive body, when financial documents and principal decisions are adopted / signed and become valid only if there are two or more signatures. Creation of a scheme in which the main decisions and account management require prior written approval from the founder or Beneficiary. Establishing regularity in written reporting on the work done on 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. Creating a scheme that allows you to personally control and / or dispose of funds. Creation of a scheme in which the management of the fund is carried out by a person by proxy, in which the limits of authority are strictly prescribed. Creation of rules for the operation of the fund. How the fund is managed, ways to adjust the management rules. Both of these questions generally relate to one thing - how the fund works. The structure and competence of the governing bodies, as a rule, is a two-level system according to the principle: Founder or General meeting founders control the Fund Manager or other collegiate executive agency. For the purposes of control, 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 to restructure the standard founding documents, viewing this as painstaking unplanned legal work, which will entail significant overhead hourly fees. On the other hand, it is often difficult to competently 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. The management rules can be adjusted by amending the constituent documents, signed contracts with the Directors and powers of attorney. The management rules can be adjusted by amending the constituent documents, signed contracts with the Directors and powers of attorney. What does the mechanism for closing a fund look like, who can close it, do you need the consent of someone else, other than the manager or owner of the funds, to close it. The fund may be established for a fixed term or indefinitely. As a separate note, it should be noted that the law knows cases of irrevocable trusts. If the Foundation is created without a term limit, then the actual decision to close it must be made by the Beneficiary, who gives the appropriate instructions to the lawyer/incorporator. The latter draws up all the relevant documents and, according to the instructions of the Beneficiary, disposes of the money and property remaining after the liquidation. No one can object to the closure of the fund. Any creditors of the fund can claim their rights to the liquidation property. In the event that lawyer's bills or annual government payments were not paid on time, then after the expiration of a certain control period, 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 I use dividends from the work of the fund at my discretion. Yes, you can, unless otherwise provided by applicable law. It is only necessary to remember that in case of making profit in the territory of another state, such activities of the fund may lead to certain tax liabilities under the laws of the country where the profit is made (for example, Russia), unless otherwise provided by a bilateral tax agreement between these countries. You should also pay attention to the possibility of tax liabilities for an individual as part of his total annual income if dividends are redistributed in his favor. Orders on the procedure and procedure for distribution and disposal of profits and dividends are given by the Beneficiary, unless otherwise agreed 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 to which 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 negotiated separately with a lawyer, having worked out the form and content of the will. As a safety net, 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 the prescribed manner. We doubt that the movable or immovable property of the Beneficiary will be located on the territory of the island states, and therefore a detailed analysis of the procedure for entering into an inheritance should be considered in conjunction with the laws of that country, as mentioned above.

Purpose of the organization, possible types of support

Today, many aspiring 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. Due to their ignorance, many lose their way to financial independence.

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

However, not all programs function as people would like, but still get financial and state aid entrepreneur is quite realistic. So what do you need to get help from the state?

Tasks 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 here.

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 the cooperation between businessmen and the Entrepreneurship Support Fund is only simplified, which means that financial assistance has become even more accessible.

Help from the state

If you have already registered your organization or entered the register as an individual entrepreneur, you have the opportunity to get under the SME support program 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 support from the state. Entrepreneurs of the capital can count on 500,000 rubles, while businessmen in the regions only 300,000.

The main condition of the SME support program is co-financing. That is, you must, in addition to financial assistance invest your hard-earned money in the turnover of the company. 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 fixed capital.
Purchase necessary materials for production. A maximum of 20% of the amount of financial assistance can be spent on these needs.

For all expenses, the entrepreneur is responsible to the state, if necessary, he must provide a receipt stating that the goods were purchased at exactly that price.

The information presented above is strictly subjective. After all, each city has its own limits of financial support. Find out exactly what they can offer your business local authorities management by contacting the city administration.

Rental incentives

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 the premises that are 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, to get money, you need to think a little and work. Do not be afraid to take the first step, start laying the foundation for financial independence now.

About one and a half million charitable organizations and religious parishes are registered 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 fund sends a fairly significant part of charitable funds abroad.

Statistics Russian Federation much more modest. The lion's share of official donations is made by legal entities, at the same time from the profits from financial and economic activities. There are no exact figures: estimates of annual payments range from 200 million to 1.5 billion US dollars. Many significant donations are also provided by banks.

What is a charitable organization?

According to the law, charitable organizations in Russia - non-profit organizations, which have specific legal forms (public organizations, foundations and institutions). With regard to the taxation of charitable organizations, they are similar to other non-profit organizations (they are exempt from paying income tax on earmarked receipts 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 the modern charitable foundation. Funds for their activities were allocated from the state treasury. In addition, the wealthy members of society had an obligation to give alms. Peter the Great considered charity one of the important areas of public life.

After the revolution of 1917, Russian 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 responsive to the problems of others.

Financing

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

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

state aid;
grants, donations from individuals;
major entities entrepreneurship;
facilities municipal authorities authorities and entrepreneurs;
family and private foundations are financed exclusively by private individuals.

Types of charitable organizations

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

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

Have you decided to entrust your money to a charitable foundation, but are not sure that they will go to those in need? A variety of 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 funds that carry out charitable activities. They have personal websites and regularly submit reports on the work done.

The main charitable organizations in Russia

SBOR (Union of Charitable Organizations of Russia) is 15 years of work, half a billion of attracted funds, dozens of successful projects and thousands of needy who received assistance from the fund. COLLECT is supported by famous actors, athletes, politicians.

Another great organization charitable assistance- The National Charitable Foundation, which was founded in 1999 on 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, their families, veterans and other persons. In 2002, the fund was categorized 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 wide category of citizens.
Also large fund in the charity market - ROSSPAS. Helps people with serious illnesses. In the area of his attention are migrants, the disabled, orphans, large families and
There are funds that are carried out at once for several categories of those in need. For example, the national charitable organization "Dobro" provides assistance to families with many children, with various diseases, orphans and those who suffer from drug addiction and alcoholism.

Charities helping children

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

Other funds

Serious charitable organization - "Life". Her the target audience- children with cancer, blood diseases. Donations buy drugs consumable, researches and diagnostics, courses of chemotherapy, operations are paid, it turns out to families.
Charitable organizations in Russia, founded by well-known people in the country: politicians, show business stars, businessmen. This is an additional influx of investors and those who wish to make a donation. The most famous fund in this category is "Give Life", which was established by popular actresses D. Korzun and Ch. Khamatova. Its purpose 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 the aid funds "Faith", "Old Age in Joy", "Collective of Caring People".
Large charitable organizations of the world also work in Russia: the Soros Foundation, the International Women's Organization, the AIDS Foundation and others.

Help is not easy, but very simple! This slogan on the main website of the COLLECTION is the best way to express readiness to accept donations from any caring person. After all, the sooner the funds are credited to the account of the charitable foundation, the more likely it is to save someone's life.

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