Private foundation
An ownerless legal entity under the Austrian Private Foundation Act (PSG) that dedicates assets endowed by the founder to a purpose set out in the foundation declaration.
The private foundation comes into being on registration in the commercial register. It is legally independent, has no owner and is represented by the foundation board. It is controlled by the foundation auditor, the commercial register court and, where applicable, the advisory board.
The purpose is set in the foundation declaration. It typically ranges from providing for a family and continuing a business to charitable aims.
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Legal basis
Statutory texts for orientation; the version in force at the relevant time prevails.
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.
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In foundation law, structure, deadlines and evidence decide. Call us directly or write to us, callback within one business day.
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