Foundation

A Swiss foundation is established when a founder irrevocably dedicates assets to a defined lawful purpose, usually by public deed or testamentary disposition. Unlike a company, it has no members or shareholders; its governing board administers the assets according to the foundation deed and regulations. Most foundations are subject to public supervision, with stricter rules for pension foundations. Foundations are widely used for charitable, cultural, family-related or occupational pension purposes, but the permitted design depends on Swiss mandatory law.