KNOWLEDGE BASE

OFFSHORE FOUNDATIONS

Setting up an Offshore Foundation

CHOOSING OCRA WORLDWIDE AS YOUR FOUNDATION COUNCIL

The process of establishing a Foundation is relatively straight forward and is not dissimilar to that of setting up a Company.

There are three basic components that make up a Foundation:

  • Founder (the person who gifts assets to the Foundation)
  • Foundation Council  (the officers who manage the Foundation)
  • Beneficiaries (the individuals or institutions who benefit from the Foundation assets)

The Founder established the Foundation for a specific purpose. The purposes are contained within the Foundation Charter and articles. The Founder then appoints a Foundation Council to oversee and manage the Foundations assets in accordance with his/her wishes. From time to time the Foundation Council as directed would distribute the assets, or a proportion thereof to the beneficiaries.

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