Manx Family Foundation
A Manx Family Foundation is an alternative to a trust, and is suited to certain civil law jurisdictions that do not recognise trusts as legal entities. A Manx Family Foundation is a limited company established under, and subject to, Isle of Man company law. Similar to the Liechtenstein 'Anstalt' and 'Stiftung' in application, a Manx Family Foundation is, in many ways, more sophisticated than these entities and is a great deal more flexible.
Essentially, the Manx Family Foundation fills the gap typically found in common-law jurisdictions between a company, which is a legal entity, and a trust, which is not. As a limited company, the Manx Family Foundation is recognised in many civil law jurisdictions which may not recognise trusts.
Since it is structured as a limited company, the Foundation is a separate legal entity which is able to carry on a trade or business in its own name - it is capable of owning and managing property, borrowing money, and it can also be established for a specific purpose.
