Legal basis: Regulations on the Administration of Foundations
Article 9 To apply for the establishment of a foundation, the applicant shall submit the following documents to the registration authority: (1) an application; (2) Draft articles of association; (3) capital verification certificate and domicile certificate (4) list of directors, identity certificates and resumes of the proposed chairman, vice-chairman and secretary-general; (5) The document that the competent business unit agrees to set up.
Article 10 The articles of association of a foundation must specify the public welfare nature of the foundation, and may not specify the contents that will benefit specific natural persons, legal persons or other organizations. The articles of association of the foundation shall specify the following items: (1) Name and domicile; (two) the purpose and business scope of the public welfare activities; (3) the amount of the original fund (4) the composition, powers and rules of procedure of the board of directors, the qualifications, procedures for the formation and term of office of directors; (5) Duties of the legal representative (6) Duties, qualifications, production procedures and term of office of supervisors; (seven) the preparation and examination system of financial and accounting reports (eight) the management and use system of property; (nine) the conditions and procedures for the termination of the foundation and the disposal of the property after termination.