Novelties of Civil Legislation on Foundations

Abstract

The article deals the new provisions of the Civil Code of the Russian Federation on non-profit organizations. Federal Law of 01.07.2021 № 287-FZ provides for new legal status of unitary non-profit organizations: public benefit trust and personal trust. A public benefit trust is a unitary nonprofit organization that does not have membership, established by citizens or legal entities on the basis of voluntary property contributions and pursuing charitable, cultural, or other socially useful goals. Such a new organizational and legal form of a legal entity as a personal trust, which is created for the purpose of managing property during the lifetime of the founder (citizen). In the author’s opinion, a personal trust has a number of advantages in managing the founder’s business and will serve to make the Russian jurisdiction more attractive to domestic investors.