Benefits of a Foundation
DIFFERENCE BETWEEN A TRUST AND A FOUNDATION?
A foundation may be created by a will or inter-vivos. It is required to be registered with the Registrar of Companies, which also acts as the Registrar of Foundation, and therefore has its own legal status compared to a trust which does not require registration. This is one of the key differences as at times people/investors injecting money into a particular structure, may feel more reassured with one that has its registration and a recognised legal status.
A foundation’s operations are dictated by its charter which is similar to a trust deed for a trust however instead of a trustee holding powers of the trust, there are council members instead.
While it may achieve the same objectives of a trust, a foundation has no particular lifetime whereas a trust has a renewable lifespan of 99 years.
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