The Private Foundation facilitates the management of private wealth, succession planning, and the accomplishment of charitable goals. Commercial activities are not permitted, except for those that are necessary, accompanying, or characteristic of the purpose of the project. It is a separate legal entity that can always provide details about when and under what number it was incorporated, provide an extract of the register, etc. It can be for charitable purposes or for the benefit of specific individuals.

A private foundation is an institution that is created to serve an individual or family’s personal interests. They are set up as nonprofit corporations with the express goal of carrying out charitable activities in accordance with their founders wishes.