Legal Acts in English

This Law shall regulate the establishment and legal status, assets, internal organization, entry in and removal from the Register, activity, statutory changes, monitoring the work of endowments and foundations, dissolution and other issues pertaining to endowments and foundations, as well as the legal status and activity of branch offices of foreign endowments and foundations.

For the purpose of this Law an endowment shall be a legal entity without members to whom a founder has designated certain property ("capital assets") with a view to accomplishing general or private interests allowed by the Constitution or law.

For the purpose of this Law a foundation shall be a legal entity without members and capital assets and established to pursue objectives of public interest allowed by the Constitution or law.

For the purpose of this Law accomplishment of the objectives of general public interest shall be activities aimed at promoting and safeguarding human, citizen and minority rights, promoting democratic values, European integrations and international understanding, sustainable development, regional development, gender equality, improvement of social and health protection, promoting and improving culture and public information, promoting and popularizing science, education, art and amateur sport, improving position of persons with disabilities, looking after children and young people, supporting the elderly, environmental protection, fight against corruption, consumer protection, animal protection, humanitarian and other activities by which endowments and foundations are accomplishing objectives of general public interest.

Endowments and foundations shall accomplish objectives of general public interest referred to in paragraph 1 of this Article even when their activity targets certain group of persons belonging to specific professional, national, cultural, religious, language and gender groups or persons living in a specific area.

For the purpose of this Law activities deemed for private benefit shall include those which further and support private interests of the founder, his family or third party (family endowments founded with a view of family members' education and for some other legal purposes).