Set up a Foundation in Russia

Updated on Friday 20th January 2017

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For a successful entrepreneur, the opening of a foundation represents an opportunity to invest energy and founds in a cause of world-wide importance. There are many reasons for which you might want to set up a foundation in Russia
 

Why to set up a foundation in Russia

The largest country in the world, Russia is a rich biodiversity and home to some rare or endangered species. This represents just one potential subject area for your foundation, along with the artistic originality of the people or the diversity of local traditional customs.
 
The establishment of a foundation in Russia says a lot about your accomplishment in your professional life as well as on your implication and care for the society. The foundation gives you the possibility to contribute to the wellbeing and development of a part of the world for which you have a special passion or interest. Our experts in company formation in Russia can be your advisors on all the legal matters implied by the opening of your foundation.
 

How to set up a foundation in Russia

The foundations are organizations which, because of their non-profit orientation, are subject to some special taxation regulations. The foundations which function in the area of education, health care, culture and other social services are exempt for the payment of VAT.
 
Regardless of the cause of your foundation, you will have to be aware of the legal aspects implied by its functioning. The law which regulates the set-up and operational activities of a foundation is the Federal Law on Non-Commercial Organizations (NCO Law). If you decide to register it as a charitable organization, it will be subject to the Charities Law. However, the foundation is more flexible in terms of inner organization, activities and expenditures than a charity. In any case, we recommend you to employ the services of an expert in company formation in Russia in order to prevent potential complications and misunderstandings in legal matters. 
 
In order to have a long lasting and renowned foundation, you will need to invest a great deal of time and energy in configuring the projects and in finding the best people to help you accomplish them. You might need as well to organize founding events and to be able to secure the resources for the well-functioning of your foundation.
 
Don’t hesitate to contact us for support and any other legal services you need when you set up a foundation in Russia.
 

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