Set Up Your Foundation in Geneva

Foundation board

The foundation board is the supreme governing body of your foundation: it sets the strategic direction, exercises overall oversight and ensures that the statutory purpose is respected. Its institutional and decision-making role is distinct from that of any operational management, which may be appointed to handle day-to-day affairs. In principle composed of at least three members, the board is appointed at the time of incorporation and its renewal procedures are set out in the statutes. In addition, the law requires that the foundation be validly represented in Switzerland by at least one person domiciled in the country with signing authority, whether this is a board member or another representative (for example, a managing director or an external representative).

Auditing body

A licensed auditor must review the accounts annually and submit a report to the supervisory authority. Exceptions are possible for small foundations, subject to certain conditions. The auditing body’s role is essential for ensuring financial transparency.