Stiftungsrecht

Foundations, Law of, laid down in the Federal Law on Foundations and Funds (Bundesstiftungs- und Fondsgesetz 1974) and applies if the purpose of a foundation transcends the purview of a province, otherwise provincial regulations are applied. Foundations are assets that have been dedicated for a permanent purpose by order of the founder; they enjoy legal personality and their revenue is used for public welfare or for charitable aims. They are founded by the founder's declaration authorised by the respective authority. Private foundations, which are not limited to purposes of public welfare or charity, but may serve as provision for family members, have existed since September 1993

Literature: P. Csoklich and B. Gröhs, Stiftungen - Ein Praxisleitfaden, 1993.