Starting a foundation in Poland

 The process of the establishment of the foundation and starting business activity involves several steps. They are necessary for the foundation to be able to obtain the status of a legal entity. Necessary for the creation of the foundation are:

1. Determination the initial capital of the foundation and creating a foundation act;
2. Development an Articles of Incorporation;
3. Registration the Foundation in the National Court Register (KRS).

 The foundation is establishment by a founder. The founder of the foundation can be either an individual or a legal entity headquartered in Poland or abroad. The founder can be either a citizen of Poland or a foreigner, according to the law, "the foundation can be established by individuals regardless of their citizenship and place of residence" (art. 2, part. 1). The purpose for which we can create a foundation must be socially or economically useful, in accordance with the interests of the Republic of Poland, in particular: health protection, economic and scientific development, education, culture and art, care and social assistance, environmental protection and monuments protection and care. In accordance with the provisions of the law, the founder of the foundation, in addition to applying the purpose of the foundation, allocates a certain property for the foundation. This foundation property may consist of money, securities, movable and immovable property donated to the foundation's ownership (Article 3, paragraphs 2-3). The minimum amount of the funds depends on whether the foundation provides business or not. For a foundation that does not run a business, there is no fixed minimum amount of the founding property. It is assumed that the minimum amount of property is from 500 to 1000 PLN. If the foundation plans to start statutory activity or run a business, then at least 1000 PLN should be allocated for this activity. An important moment which concerns the registration the foundation is a visit to the notary to sign the intention of creation a foundation (in the form of a notarial deed).