Registered foundations shall meet the following requirements:
(1) Established for specific public welfare purposes;
(2) The original fund of a national public fund shall not be less than 8 million yuan, the original fund of a central public fund shall not be less than 4 million yuan, and that of a non-public fund shall not be less than 2 million yuan; the original fund shall be the currency fund on account;
(3) having standard titles, articles of association, organizational structures and full-time staff who are in conformity with their activities;
(4) having a fixed residence;
(5) It may undertake civil obligations independently.
When applying for the establishment of a foundation, the applicant shall submit the following documents to the cancellation authority:
(1) Application forms;
(2) Draft articles of association;
(3) Certificate of capital verification and certificate of residence;
(4) List of directors, identity certificates and resumes of the proposed chairman, vice-chairman and secretary-general;
(5) Documents agreed to be established by the competent business unit.
The establishment and cancellation of foundations include titles, domiciles, types, objectives, business scope of public welfare activities, the amount of original funds and legal representatives.
Where a foundation intends to establish a branch or representative office, it shall submit an application for cancellation to the original cancellation administration organ, and submit documents concerning the title, domicile and person of the proposed institution.
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