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European Commission Proposes European Foundation Statute

The Commission presented on 8 February 2012 a proposal for a European Foundation Statute. The goal of the proposal is to make it easier for foundations to operate across national borders in the EU.

 

 

The Statute focuses on public benefit purpose foundations, which make up the great majority of the foundation sector and which are present in and recognised by all Member States. The proposed Statute lays down the main requirements for the European Foundation. For instance, each FE would need to prove its public benefit purpose, cross-border dimension and that it possesses the minimum founding assets of €25 000. The European Foundation could be set up from scratch, by converting a national foundation into a European Foundation or through a merger of national foundations. FE acquires a legal personality upon its registration in a Member State.

 

On worker involvement issues, the channel of worker involvement forseen would be a European Works Council, which could be set up under specific conditions. No specific provision is included for worker board level employee representation.

 

The European Foundation Statute was announced in the Single Market Act (IP/11/469). The proposal draws on the research carried out by the Commission through a feasibility study, two public consultations (IP/09/270; IP/10/1390) and contacts with the foundation sector.

 

For further information:

 

http://ec.europa.eu/internal_market/company/eufoundation/index_en.htm

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