1.** Registered capital * *: Individual foundations need a certain amount of registered capital or initial capital. This amount may vary by region and specific regulations, but it usually requires a lot of money to ensure the operation and sustainability of the foundation.
2.** Articles of Association * *: The articles of association of the foundation must be formulated to clarify the purpose, business scope, management and operation mechanism of the foundation. The Articles of Association shall meet the requirements of relevant laws and regulations.
3.** Council or governing body * *: It is necessary to set up a Council or other governing body to be responsible for the daily management and important decision-making of the Foundation. The qualification, election and term of office of board members shall also comply with relevant regulations.
4.** Office space * *: The Foundation needs a fixed office space for daily operation and management.
5.** Audit and financial management * *: The Foundation needs to establish a sound financial management and internal audit system to ensure the legal and compliant use of funds.
6.** Filing approval * *: According to the Regulations on the Administration of Foundations and other relevant laws and regulations, the establishment of a foundation shall be filed with the civil affairs department and approved.
7.** Information disclosure * *: The Foundation needs to regularly disclose annual reports, financial reports and other information on the officially designated platform and accept social supervision.
8.** Abide by relevant laws and regulations * *: The operation of foundations must abide by the Regulations on the Administration of Foundations, the Charity Law and other relevant laws and regulations.
I hope the above content can help you. Please consult a professional lawyer if you have any other questions.
Legal basis: Article 4 of the Regulations on the Administration of Foundations
Foundations must abide by the Constitution, laws, regulations, rules and national policies, and must not endanger national security, unity and national unity, or violate social morality.