A foundation is an incorporated, self-owning legal entity, which although has much in common with limited companies and trusts, possess its own unique features. They are regarded as one of the most certain and robust vehicles for holding assets and eventually delivering them to their exact intended destination.
Historically a foundation was mainly established in civil law jurisdictions as an alternative to a common law trusts but now there are also a limited number of common law jurisdictions offering foundations, a favorable one is the Isle of Man.
Foundations offer the founder and beneficiaries a high degree of protection against creditors. They provide for a great degree of certainty in forced heirship issues and allow for a high degree of confidentiality.
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To discuss any aspect of foundations please get in touch with our Head of Private Client, Gemma Davies at firstname.lastname@example.org