In 1993, an Austrian law went into effect allowing the establishment of foundations for private purposes. Such a law offers wealthy people both in Austria and abroad an excellent investment opportunity and is especially suited for giving a clear structure to large family assets.
The growing number of foundations is a sign of how attractive this form of organization has become in practice. In this context, "knowing the ropes" is indispensable. Questions arising here will most likely include: What is the general framework like? What is the founder’s role? What about the founder’s relationship to the foundation and its executive bodies or officers? After all, the management and supervision of a foundation is not the responsibility of the founder but lies in the hands of appointed officers. »read more