Pursuant to the 2019 Law on Foundations, a foundation is recognised as a legal entity and is defined as an asset designated for the perpetual accomplishment of public-benefit or charitable goals. The purpose of a foundation is also considered generally beneficial or charitable if it only concerns persons from a specific profession, national, social, linguistic, cultural, scientific, religious or similar group, persons connected by similar healthcare, social, cultural and other needs and interests, or persons living on a specific territory or covered by the activities of a specific non-profit association, institution or other legal person. A foundation in Croatia is set up for an indefinite period. However, by way of exception, a foundation may be set up for a definite period, until the purpose of the foundation is fulfilled, as defined by the foundation charter.