Its main objective is to give the power to manage family property, protecting it from “split” during succession. Thanks to the institution, the company's assets will be able to be retained in the hands of a single family, which can ultimately translate into faster company development and increased investment.
Why should we consider setting up a family foundation?
Its main advantages are:
- protection and regulation transferred to property,
- possibility of withdrawing the funder – entrepreneurs from active business without loss of income,
- family financial security,
- diversification of family and business affairs,
- maintenance of property in the family,
- enabling succession over many generations without unnecessary formalities.
As indicated above, a family foundation is a valuable and good solution for family business. However, will the foundation as such be able to run an economic activity? Of course it is, the family foundation will be able to operate to a certain extent.