Fides Trustees can act as a member of the Foundation Council for a variety of Foundations.
Fides Trustees sees their role as a member of the Foundation Council as having three fundamental functions:
1. Acting as a “real member of the Foundation Council” for our clients by providing guidance and at times making difficult decisions.
2. Delivering highly efficient administration and implementation of the decisions of the Foundation Council and/or their advisers.
3. Providing accurate as well as up to date accounts and reporting for the Foundations.
A foundation is a legal entity established under a civil law legal system. It has a legal personality independent of the founder who established it, and can endure beyond the lifetime of the Founder. Foundations are often used to endow charitable purposes in civil law countries in the way that Trusts can be used in common law countries. A few jurisdictions such as Liechtenstein, Panama, Jersey and the Bahamas allow foundations to be established for purely private purposes or for holding and distributing family wealth. A private foundation can therefore be used in a similar way to a Trust and may have some of the same benefits as Trusts.
Foundations can be of perpetual duration or can determine on a pre-arranged date or eventuality.