Who can establish a foundation?
The Act provides that the founder of the foundation in Slovakia can be both natural as well as legal person. It is also possible the combination, that is, the founders of one foundation will also be natural and legal persons.
How to establish a foundation in Slovakia?
The establishment of the foundation is to be distinguished from its formation. Before the foundation is formed, it must be set up. The foundation is established by signing the foundation charter by the founders. If the foundation is established only by one person, the foundation charter shall be signed by such person only. If there are more founders, the foundation charter must be signed by all founders. Signatures of the founders must be officially certified.
Foundation charter shall contain:
- name and address of the foundation
- public benefit purposes which the foundation will support
- name and surname (title), personal identification number (identification number of organization) and address of permanent residence (seat) of all founders
- value of assets of the foundation
- value and subject of property contribution that each founder put into the endowment in the establishment of the foundation
- period for which the foundation is established
- number of members of the foundation, length of tenure and method of their selection
- method of convocation, voting and negotiations of the foundation
- name, surname, birth identification number and address of permanent residence or long-term residence of the first trustee and the first members of other bodies of the foundation
- conditions for the disposal of assets of the foundation
- determining group of persons who are granted by the foundation, • conditions for the provision of funds of the foundation to third parties
- further particulars if the founder considers them necessary to specify . While the foundation is established, on its behalf may act either founders or trustee of the foundation.
Name of foundation
Name of the foundation shall contain the indication „foundation“. Name of the foundation shall differ from the name of another, already registered foundation and can not be confused with the name of another, already registered foundation. If name of the foundation shall include the surname of an individual other than the founder, an application for registration in the Register of Foundations must also include the consent of this individual. If the individual is deceased, the consent of the heirs, if known.
Formation of foundation in Slovakia
By signing the foundation charter the foundation is not formed. For the formation of the foundation is required to submit application for registration of the foundation in the Register of Foundations kept by the Ministry of the Interior of the Slovak Republic (hereinafter only referred to as the “Ministry”), charged with obligation in the field of registration of foundations. In particular, the performance of the tasks related to the formation of the foundation is entrusted to the Department of General Administration, Section of Public Administration (address: Drieňová 22, 826 86 Bratislava 29). Trustee of the foundation submits a written application for registration in the Register of Foundations, his signature on the application must be notarized.
The application to the Ministry shall be accompanied by:
- foundation charter in duplicate (originals), on which the authenticity of signatures of all founders must be officially certified
- written statement by the trustee of contribution paid by the founder or a written statement of the founder of the transfer of property to the foundation´s endowment (signatures must be officially certified)
- current expert opinion in the case of property deposit
- criminal records certificate of the trustee not older than three months
- extract from the Commercial Register or another register not older than 30 days if the founder is a legal entity
- if the founder is a foreign legal entity document that is a legal entity and who is its statutory body
- document of long-term residence in the territory of the Slovak Republic if the trustee is a foreign natural person
- proof of payment
If the proposal is incomplete, the Ministry shall within 15 days notify the trustee and request him to remove the deficiencies with the caveat that it will act on entry in the Register of Foundations after their removal.
If the Ministry does not find a ground for refusal of registration in the Register of Foundations, within 30 days of the commencement of proceedings will register the foundation in the Register of Foundations and in this period shall send the trustee one copy of the foundation charter on which marks the date of registration of the foundation in the Register of Foundations.
The application for registration of the foundation shall be accompanied by a proof of payment of € 66. This can be paid:
- at the office which issues the certificate of fee registration
- by postal order or
- by bank transfer to the account of administrative authority
Assignment of ID and notice of formation of the foundation to the Statistical Office
The identification number of organization (ID) of the foundation assigns the appropriate Regional Office of the Statistical Office of SR, at the request of the foundation. Formation of the foundation, its name and address is notified by the Ministry to the Statistical Office of the Slovak Republic within ten days from the entry of the foundation in the Register of Foundations.