Draft Law on Foundations and on Amendments to the Civil Code

n the previous issue of our Newsletter we informed you about the government’s draft law on foundations and the amendment to the Civil Code, the main purpose of which was to introduce an institute for private asset management through a private foundation. This should allow citizens to set up how property is managed and handed over to family members or other persons designated by them.

This draft was ultimately not brought to the Government for discussion, with the most significant reasons for this being criticism from representatives of the not-for-profit sector, as well as the fact that it would not be an appropriate property management solution for same-sex couples.