Chapter I.
General Provisions

Foundation is a noncommercial organization which has no membership and established on the basis of constitutive document by one or by several physical and/or juridical persons possessing property, which is isolated and separated from the property of founders, and which is designed for accomplishing noncommercial objectives prescribed by Statute.

Article 2. Legal Status of Foundation

From the moment of its registration foundation shall acquire the status of juridical person.

Article 3. Legislation on Foundations

Activities of foundations, representations, and branches in foreign foundations, established within the territory of Republic of Moldova shall be regulated by the Constitution, current legislation, other normative acts, as well as international conventions and agreements in which either part is represented by the Republic of Moldova.

Article 4. Foundation Users

(1) Users of foundation shall be physical and juridical persons in favor of whom some payments could be exercised, services could be provided or, according to the statute of foundation, some part of foundation property could be transferred.

(2) In respect to foundation user, i. e. juridical person, the activity of foundation shall be socially useful only in case if this person is a noncommercial organization which is prescribed by points a) and b) in part (1) of article 52 of the Tax Code and conforms to the requirements of part (2) of this article.

Article 5. Public Foundations

Public foundations are foundations activity of which is directed to the protection of human rights, democratic development, receiving and dissemination of knowledge, upbringing, development of education and science, culture and art, physical training and amateur sport, health care, social protection, environmental protection, propagation of values common to all mankind, religion support, as well as other fields having socially useful nature.

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