Areas of Expertise

Private Foundations / Foundation Law

In 1993 an Austrian law went into effect allowing the establishment of foundations for private purposes. Such a law offers wealthy people both in Austria and abroad an excellent investment opportunity and is especially suited for giving a clear structure to large family assets.

It is crucial to recognize that establishing a foundation also requires thoughtful preparation. The decision as to whether and in what form a foundation should be established, requires careful consideration. In particular, the general conditions must be clarified, as must be the position of the founder and the relationship with the foundation and its bodies. In practice, the motives for founders are often complex:

  • Preventing family assets from being broken up through inheritance
  • Preventing inheritance disputes
  • Providing security for family members
  • Lack of descendants
  • Ensuring that a business is continued as a whole according to the wishes of its founder
  • Keeping shareholdings together
  • Flexible continuation of a business for underage heirs

Whether it is about the rights of the beneficiaries or the founders of a private foundation, liability issues for foundation bodies, the precise wording of the foundations’ purpose or questions about non-profit status – the legal form of the foundation can pose demanding challenges for everyone involved. Thanks to many years of practical experience and in-depth specialist knowledge, our experts offer comprehensive answers to even the most complex questions relating to foundations.

Our services and main points range from advice and support in the establishment of private foundations during lifetime and after that, the revision, amendment and adaption of foundation declarations, ongoing support and advice to founders, beneficiaries and foundation bodies (such as the foundation board, foundation advisory board, foundation auditor) to advice on ways out of the private foundation (such as conversion or dissolution) or the establishment of sub-foundations.

SSFP Law - Siemer - Siegl - Füreder & Partner Rechtsanwälte - MMag. Monika Buxbaumer

MMag. Monika Buxbaumer
+43-1 512 14 45