Liquidation of a charitable foundation

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In most civilized countries the issue of charity is regulated at the legislative level. Charitable foundations are legal entities that are established to collect donations.  Foreign foundations that want to work in Ukraine can open a representative office of a foreign charity or foundation.

A charitable foundation belongs to such types of non-profit organizations, the closure of which requires compliance with a special procedure. Here is very useful knowledge of the laws that regulate the activities of non-profit companies. It is necessary at least in general terms to understand the peculiarities of the work of such structures.

It is obligatory to hold the last meeting of participants and create a liquidation committee. 

THE NEED TO LIQUIDATE A CHARITABLE FOUNDATION ARISES FOR VARIOUS REASONS

• Impossibility to realize the goals of the association;
• lack of funds for the implementation of activities;
• change of direction;
• violation of legal norms.

The initiators of the termination of the work of the fund can be its members (participants), as well as state authorities, local self-government bodies, which file a statement of claim in court.

Liquidation of a charitable organization is a process that requires an understanding of how the laws in this area work. Sometimes the final decision to close a charitable foundation is made in court. The slightest mistake can cost a lot of problems.

You can avoid trouble only by turning to professionals. By entrusting the liquidation of a charitable foundation in Ukraine to the lawyers of Legal Solutions, you will save yourself from negative emotions, worries, save time, and the liquidation will be handled by lawyers under an agreed plan.

MORE ABOUT THE SERVICE OF LIQUIDATION OF CHARITABLE FOUNDATION IN KIEV

Charitable activity by the legislation of Ukraine recognized voluntary assistance, personal or property nature, not providing for the receipt of profit by a person engaged in charity.

Charity Fund - an organization acting on the basis of the charter, managed by its participants, who have no obligation to transfer the association of their assets. The assets are formed by both the participants and others.

Service of liquidation of the charitable Foundation in Kiev can be carried out by voluntary liquidation, as well as forced liquidation.

THERE ARE TWO FORMS OF CLOSURE OF THE ASSOCIATION ENGAGED IN CHARITY:

• Reorganization - transfer of rights and obligations to legal successors.
• Liquidation - complete cessation of existence.

STAGES OF LIQUIDATION OF A CHARITABLE FOUNDATION IN UKRAINE

Since the fund is a legal entity, its closure involves two stages: preparation and state registration. At the stage of preparation:

1. At the general meeting, a decision is taken on the termination of work, a liquidation Commission is appointed.
2. Inventory is carried out, dismissal of employees is formalized. A liquidation balance sheet and verification documentation are drawn up and approved. The papers are sent to the archive for storage.

THE FOLLOWING DOCUMENTS ARE REQUIRED FOR SUBMISSION TO THE REGISTRAR:

• Application for state registration of a legal entity as a result of its liquidation;
• certificates: from the tax service on the absence of arrears of taxes and fees and a single social contribution; as well as a certificate from the archives.

When contacting us, you send us the necessary information by mail or pass at a meeting in the office in Kiev, and we draw up a power of attorney, prepare documents, register the liquidation.

The procedure for liquidation in the case of reorganization is somewhat different: a protocol is drawn up, a new version of the charter is approved, other documents are drawn up, which confirm the re-registration of rights to the charitable organization.

OUR SERVICES INCLUDE:

1. consulting;
2. organizing a general meeting;
3. preparing documents and submitting them to the registration authority;
4. receiving and transmitting the notice of liquidation to you.

WHY DO CLIENTS CHOOSE LEGAL SOLUTIONS FOR LIQUIDATION OF CHARITABLE FOUNDATION (KIEV)?

• Turnkey, with no extra hassle for you. We take on the whole task: documents, filings, authorities, official queries. You make decisions and sign; we do the rest and contact you only when it matters.
• We take on the bureaucracy for you. Refusals, queries, delays: we respond, revise and appeal at no extra charge until the matter is closed.
• One person in charge, start to finish. The same person runs your matter even when the process takes months. You always know who is responsible and where things stand.
• Since 2012, with personal involvement. Legal Solutions has been in practice since 2012, and an experienced specialist handles each matter personally. Non-standard matters are our field: where you have been told it cannot be done, we look for a lawful way.
• Your affairs stay yours. Information about you, your company and your deals reaches neither competitors nor third parties. We disclose only what the law or the procedure requires, and the contract says so.
• Right on the first filing. We know the typical queries from registrars and authorities and deal with them before filing, so there are fewer rounds of revisions. We give realistic timelines, allowing for how the authorities work, and put them in the contract.

Express liquidation with the transfer of rights to other persons takes 2 working days, full closure - from 2 to 8 months.

The cost of the service depends on the complexity of cases, the final price specify the lawyers.

If your organization is threatened with closure by court decision, contact us. Competent consultations of specialists will help to avoid an unfavorable outcome of events.

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