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Legal briefing notes

Registration of fund

A fund is one of the most common forms of non-profit organizations. It is established by natural or legal entities (foreign enterprises of any form of ownership). The legislation does not limit the number of founders. The Fund allows you to effectively solve problems in the social, cultural and educational fields.

Foremost, the activity of the fund is not based on membership. In practice, it means that only the founders of the fund will be able to “immortalize” themselves in the founding documents and the register. The property that is transferred by the founders becomes the property of the fund, and in return the founder does not receive any liability rights to this non-profit organization. To achieve the goals of the fund, the fund has the right to do business and act as the founder of commercial organizations as well as participate in them.

The founders and the fund are not liable for the obligations of each other, so neither the founder is not liable for the fund, nor the fund is not liable for the founder.

Procedure of registration of fund

In order to register the fund, it is necessary to prepare its founding documents. The main document of the fund is its charter. It may be useful to elaborate on the competence of the bodies, including the Foundation Board of Trustees, on the procedure for appointing to leadership positions. A decision of the founder will also be required (if the fund is established by one founder) or a protocol (when a non-profit organization is established by two or more founders) and a unified application form and documents confirming the payment of the fee. The registration process is carried out in two-stage. The total registration period, considering all the formalities, usually does not exceed one month. Funds have all the attributes of a legal entity. However, it is important to decide the taxation system and order a stamp.

Professional Registration of Fund

This procedure has a number of important subtleties that you need to know. It is better to hire professional lawyers to register the fund. Qualified specialists of the Tsentralny Okrug Law firm have vast experience in resolving issues related to the registration of funds.

We advise on all issues of organizing the activities of non-profit organizations and prepare a full package of documents and a charter according to your request, and perform other formalities that mitigate the risks of establishing non-profit organizations. And, unfortunately, there are many of them. Formal refusal lead to a loss not only time, but also the fee paid, which will have to be re-paid after the mistakes are eliminated.

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