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What is the foundation & FOUNDATION ESTABLISHMENT requirements

understanding Foundation: What is the Foundation? | In Act 16 years 2001 Article 1 Signs 1 on Foundations, it is said thatunderstanding foundation is a legal entity consisting of separated wealth and rnencapai earmarked for specific purposes in the fields of social, religion and humanity, which has no members. Some of the Foundation shall perform their tasks and functions, the Foundation may establish business entity whose activities are in accordance with the aims and objectives of the Foundation. The Foundation can also make investments in various forms of business entities that are prospective provisions across most of these investments 25% of the entire value of the wealth of the foundation.
The Act has been changed to Law Decree No.. 28 year 2004 about Amendment to Act No. 16 Year 2001 on Foundations. The Foundation acquired the status of legal entity after the establishment of the Foundation approved by the Minister. (Article 11). up to act law conducted by the Board on behalf of the Foundation before the foundation obtain legal status is the responsibility of the Board jointly and severally.

Requirements Establish Foundation among others:

  • Foundations must have a social purpose, religion and humanity
  • Foundation should be with Deed made in Indonesian
  • Not contrary to morality
  • Is not contrary to public order
  • Do not violate the laws and regulations
  • Has the composition of at least one

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