Where to incorporate?

I’ve spent the past few weeks investigating where the foundation should be legally incorporated. Selecting the right country is crucial since it determines not only the legal structure and compliance we’ll need to follow, but also the fiscal benefits and operational flexibility we might have in the long run.

Legal research using Philea’s guide

To guide my decision, I used an invaluable resource: the Comparative Highlights of Foundations in Europe guide from Philea. This comprehensive report compares the legal frameworks for foundations across different European countries, outlining each country’s requirements for setting up a foundation, governance, tax advantages, and more.

By going through this extensive document, I was able to understand the legal landscape across Europe and how it would impact Vaugnity’s future. After much consideration, I’ve concluded that Belgium is the ideal place to incorporate the foundation.

Why Belgium?

There are several reasons why Belgium stood out as the best option for incorporating Vaugnity:

• Local familiarity: Being from Belgium myself, I am already familiar with the legal aspects, regulations, and compliance requirements here. It’s the easiest country for me to navigate as I already understand much of the legislation, which will streamline the incorporation process.
• No significant obstacles abroad: While I wanted to ensure that incorporating outside Belgium wouldn’t offer better advantages or create obstacles for our mission, after reviewing Philea’s guide, I found no substantial reasons to establish the foundation elsewhere.
• Transparency and governance requirements: Belgium has strong legal guidelines for foundations, ensuring trust with future partners and donors.
• Tax advantages: Incorporating in Belgium can offer tax advantages for both the foundation and donors, which will help us attract future support.
• Local and global focus: With Belgium as a hub, we can support both local and international initiatives, as planned.

Next steps: Setting up the legal foundation

Now that we’ve made this decision, the next step is to move forward with incorporating the foundation. We’re currently in discussions with several people (notaries and advisors) to ensure that we take the right approach from the very start. Establishing a solid legal foundation is essential for building trust and ensuring that Vaugnity is positioned for long-term success.

Incorporating Vaugnity is a big milestone, and while it’s a complex process, I’m confident that we’re laying the groundwork for something truly impactful.