What is a family foundation?

A family foundation is a legal structure that builds an organizational structure aimed at securing family assets. It acts as a kind of treasure trove for the founder, protecting his family and business from accidents. Such foundations are popular in other countries such as Austria, Liechtenstein, Germany and Switzerland. A family foundation operates on the basis of a statute (and any regulations), with the founder having a great deal of freedom in determining the principles of its operation. Thanks to the flexibility in shaping the foundation structure and favorable taxation rules (the effective rate is about 13%), it is a tool ideally suited to the expectations of entrepreneurs who have long advocated for the introduction of such a solution in the Polish legal system. The interested party (the founder) is able to draw up a will as well as to establish a family foundation during their lifetime, which will manage their assets.

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