Foundations and independent institutions
Our expertise includes:
- Establishment of foundations/independent institutions and associations
- Choice of organisational structure
- Definition of duties of boards of directors
- Issues concerning special foundations, including employee foundations, savings bank foundations and public foundations
- Rules governing the capital of foundations
- Distribution issues
- Dissolution and mergers of foundations
- Amendments to foundation statutes and extraordinary transactions.
How can we help?
We have long-standing experience in advising commercial and non-profit foundations as well as independent institutions and associations.
We advise on the establishment of foundations, on how to change foundation statutes and on the drafting of rules of procedure for the foundations' boards of directors.
We also provide legal assistance in supervisory matters when in contact with the Danish commercial foundation supervisory authorities.
Foundations, independent institutions and associations are subject to close public supervision giving rise to several challenges. Moreover, the financial crisis has led to increased public attention on commercial foundations owning large parts of corporate Denmark – legal matters relating to savings bank foundations are particularly under scrutiny.
In Denmark, this has resulted in stricter control from the supervisory authorities and calls for tighter legislation on foundations from the politicians.