What is a Foundation?

In accordance with Article 101 of the Turkish Civil Code, foundations are communities of assets possessing legal personality, formed by natural or legal persons allocating sufficient assets and rights to a specific and continuous purpose. All or any part of an estate, or any kind of income that has been or is understood to be generated, or rights with economic value may be endowed. A foundation may not be established in violation of the qualifications of the Republic defined by the Constitution and the fundamental principles of the Constitution, law, morality, national unity, and national interests, nor for the purpose of supporting members of a specific race or community.