Italy (IT)

Jurisdiction Overview

IDQuestionAnswer
350 Number of private foundations 
 Data Date: 2011

Notes

 
It appears thar private foundations are not available. According to the Global Forum, foundations "are non-profit organisations meaning that the eventual profits of the entity cannot be distributed. Foundations may only be constituted for public utility and must be recognised in all situations by public authorities. Even though set up for public utility, foundations are allowed, under Italian legislation, to carry on commercial activity, whether mainly or secondary to pursue its purpose" (GF 2011: 36). However, communication with Vincenzo Comito (31 January 2013) suggested that foundations for private benefit are available, "but with benefits only available to the people and organizations listed in the statute".

Sources

GF 2011: 36-37