A foundation is  regarded in the offshore industry as a primary form for preparing  organizational structure. A foundation has certain features which are not  shared by any other legal form and that are intended for protection or  enrichment of assets.

A foundation unites characteristics of trusts and companies. The council leads the foundation in a similar way the management board manages a company, goals are usually similar as with trusts. The foundation is incorporated with a memorandum that is entered into the state registry.

The application has to include the name of foundation, its purpose, names of council members, residence and the name of official representative. Goals of foundations can be of any kind, but cannot include any economic activities.