How to create an aid fund in Ukraine? Legal advice
An aid foundation is a non-profit organization created to protect the interests and provide material and non-material assistance to certain categories of people.
Registering an aid foundation is a noble endeavor, which may well get bogged down by the red tape associated with the need to gather a package of documents that would meet all the requirements of the law.
But even if you have time to deal with the registration procedure, we still advise you to ask the professionals to draft the foundation documents, because we will help you avoid the following problems:
Incorrect choice of the name for the aid foundation. In our practice we met cases when the founders of the aid foundation chose a very non-standard name, which led to the rejection of the registration. Our lawyers will advise when the name has to be exactly changed, or help explain to the registrar the legitimacy of choosing one or another name;
Inaccuracies in the Charter. When establishing an aid foundation, you should immediately think about how to structure its activity, what assistance will be provided, to whom, as well as in what form charitable assistance may be accepted, etc. All these details, immediately spelled out in the Charter, will help to avoid problems in the future.
Delays in the process, if some of the founders are foreigners. A foreign founder of an aid foundation is a widespread situation in Ukraine. But at the same time, a foreign founder somewhat changes the procedure of registration of the foundation, which is worth keeping in mind if you do not want to delay the process.
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Stages of establishing an aid foundation in Ukraine in 2021
Stage 1. Formal adoption of the decision to establish an aid foundation.
The decision, as well as the choice of the head of the aid foundation and the signing of the founding documents, shall be made at the general meeting of founders.
At this stage, our specialists undertake all preliminary preparation of documents and help with the recording of the decision of the meeting of founders.
Stage 2. Submission of constituent documents for registration. Registration of a charitable foundation.
At this stage the following documents shall be submitted to the registrar:
application for registration of an aid foundation;
the charter of the foundation;
minutes of the meeting or the decision on registration, if the founder is one.
A power of attorney shall be also prepared for the representative, if the documents are submitted by a legal representative.
Please note! If there are several founders, a notarial power of attorney must be prepared from each founder.
Our specialists guarantee you fast and successful consideration of the documents prepared by us.
Stage 3. Registration of an aid foundation with the tax authorities and obtaining a non-profit status.
The non-profit status is not automatically assigned to aid foundations or public organizations - in order to obtain it, you have to register with the tax authorities and submit the corresponding application.
Of course, the non-profit status needs to be maintained during the activity of the foundation, which obliges you to take care of the correct organization of the aid foundation accounting.
The period for registering an aid foundation with our lawyers’ assistance is only one day following the date of signing the founding documents and their transfer to our specialists.
Do you want to establish an aid foundation in Ukraine easily and quickly? Don’t hesitate to contact us! We will help with the registration of the foundation for your needs, and provide all the necessary information that you need to begin the work of the foundation.
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