Friday, October 23, 2009

Europe—Comments Submitted on European Foundation Statute

The Council of Bar and Law Societies of Europe (CCBE) reported the following in its latest newsletter: on 16 February 2009, the European Commission launched a public consultation on a possible European Foundation Statute.  The consultation focused on the difficulties foundations face when operating cross-border, on the content of a possible European Foundation Statute and on how a Statute might affect donors’ and founders’ attitudes.  CCBE responded to this consultation.  It pointed to the main legal and tax related obstacles which currently exist (such as the difficulty of recognition of the legal personality in another state or the differences in tax treatment).  Overall, the CCBE expressed its support for the creation of a European Foundation statute in order to overcome current deficiencies in the cross-border operation of foundations.

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