Foundation law from A to Z.
The key terms of Austrian private foundation law, explained in plain language. From the founder and the foundation declaration to the ultimate beneficiary, each with links to in-depth topic pages.
BRANDAUER Rechtsanwälte
Foundation law team, Salzburg and throughout Austria
Your matter is handled by a team combining corporate law, asset succession, real estate law and dispute resolution. We review the foundation declaration, board resolutions, information rights and liability issues and set out clear next steps. Mag. Bernhard Brandauer is responsible for the legal advice, supported by further specialised lawyers of the firm where the matter requires it.
A
B
- Beneficial owner (WiEReG) Persons of the private foundation subject to reporting under the Beneficial Owner Register Act, in particular founders and beneficiaries.
- Beneficiary A person to whom distributions from the private foundation are to flow. The exact entitlement depends on the foundation declaration.
F
- Foundation auditor External auditor that must be appointed by the private foundation. Audits the annual accounts and management report.
- Foundation board The body that manages and represents the private foundation. Consists of at least three members, two of whom must reside in the EEA.
- Foundation declaration The legal act that establishes the private foundation. Consists of the public foundation deed and typically a confidential supplementary deed.
- Foundation deed Public part of the foundation declaration. Filed with the commercial register and thus publicly accessible.
- Foundation purpose The purpose of the private foundation set by the founder in the declaration. Binds the board and the bodies.
- Founder The person or persons who set up a private foundation and endow it with assets. Founder rights are strictly personal and only transferable to a limited extent.
S
This explanation gives a general overview of Austrian law and does not replace advice in an individual case. The specific circumstances of your foundation are always decisive.
Direct line to the firm.
Address
BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
Phone
+43 662 6280000