Public benefit foundations can be established under the Federal Foundations and Funds Act (BSTFG – Bundesstiftungs- und Fondsgesetz 2015) and by provincial legislation. According to the Federal Foundations and Funds Act, foundations are legal entities established upon the irrevocable transfer of assets that are used for public benefit or benevolent purposes. Private foundations can either act as family offices or exclusively or additionally define public benefit purposes.
Austria’s philanthropy profile
Pool of assets