Setting up a foundation
Our experts will develop a contract for you; there it will be stated that you have formed stichting and form its regulations. You can form a groundwork by yourself or with others, e.g., corporate bodies, a BV. It is even possible to do it in your will after your death.
The regulations of the stichting contain:
- Name that includes the word 'stichting'
- Policies to appoint and eliminate executives
- Rules for the adoption of the resolution
- Rules and compensations in case of disunion
- Rules about the organization of the foundation
Structuring a foundation
A stichting maintains a board without members. In can also be an enterprise; however, the earnings should be assigned to the aims or reasons. The executives of the substructure may get paid as an employee, albeit this is not common. All in all, executives only get compensation for their expenditure.
It is disallowed to hire an executive officer if a stichting is formed with a 'public benefit organization' (PBO) status, or in Dutch algemeen nut beogende instelling (ANBI) status. Though, it is possible to hire staff.
Committee member liability
A stichting is a legal entity; therefore, in theory, its executives are not responsible for its loans. This being said, this regulation has its exceptions — for instance, maladministration, dereliction, and failure to record the stichting in the Commercial Register.