The Resource Feasibility study on a European Foundation Statute : final report

Feasibility study on a European Foundation Statute : final report

Label
Feasibility study on a European Foundation Statute : final report
Title
Feasibility study on a European Foundation Statute : final report
Creator
Subject
Language
eng
Summary
This feasibility study covers seven major objectives according to the terms of references. It offers an overview of the main types of foundations in EU Member States; presents estimates of the economic scale of the European foundation sector, also in comparison with the United States; examines the main regulatory differences in the legal treatment of foundations across the EU; estimates cross-border activities as well as barriers and their economic relevance; analyses the importance and cost implications of these barriers; explores possible modalities of eliminating existing barriers; and assesses further possible effects of a European Foundation Statute. For each objective key findings emerge, which the authors address in the concluding section of the feasibility study. Specifically: (1) The European foundation sector is a major economic force and makes significant contributions to the public good of Europe. (2) The public benefit foundation is the only type of foundation which is accepted in every Member State and in practice public benefit foundations are the most important foundation type. (3) In the 27 Member States considerable regulatory differences can be found. However, as regards the public benefit foundations there are also important similarities which overall are more substantial than the remaining differences. (4) There are legal barriers to cross-border activities of foundations of the Member States both in civil law and in tax law. As in company law, most of the barriers can be overcome, but this leads to compliance costs which will often be higher than they would be in company law, given that the legal and personal environments vary . (5) The calculable cost of barriers against cross-border activities of European foundations ranges from an estimated € 90,000,000 to € 101,700,000 per year. Additionally, there are incalculable costs (costs of foundation seat transfer, costs of reduplication, psychological costs, costs of failure, etc.) which are certainly higher. (6) Five policy options emerge for addressing cross-border barriers and thereby stimulating foundation activities. These policy options differ substantially in terms of their cost effects as well as in their legislative and administrative implications. In comparing the various models, the European Foundation Statute seems to suggest itself as the preferable policy option. (7) Apart from the reduction of the costs for cross-border activities a possible European Foundation Statute would have further positive effects on the general governance of foundations and trusts; on the behaviour of donors and giving; on the corporate sector; and on the European economy, especially in the field of R&D
http://library.link/vocab/creatorName
Hopt, K.J.
Geographic coverage
  • European Union
  • North America
Index
no index present
Language note
English
Literary form
non fiction
http://library.link/vocab/subjectName
  • foundation
  • EU law
  • charities, donations to
Label
Feasibility study on a European Foundation Statute : final report
Instantiates
Publication
Extent
XII, 212 p.
Label
Feasibility study on a European Foundation Statute : final report
Publication
Extent
XII, 212 p.

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.3736660 4.9336932
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