>> In the past there has been talks to establish a non-profit TDE organization,
>> but this has yet to happen.
>>
>> With release R14.1.0 coming soon, I would like to propose for donations to be
>> temporarily redirected to Slavek, till the TDE non profit organization is
>> established.
>> If Slavek needed to pay additional taxes due to the temporary donation income,
>> I suggest those would be paid out of the donations themselves.
>
> Just have Slavek be the trustee for the "TDE Project Trust". That way he
> simply holds the funds for the benefit of TDE and there are no tax
> consequences to him.
>
> To establish the trust just make a short memo (in whatever TDE uses to keep
> notes of what the project does) that the "TDE Project Trust" is being created
> with Slavek as the trustee for the benefit of the TDE Project until the TDE
> Non-Profit is created. No other formalities are required.
>
> Slavek collects the funds, and then the Non-Profit is created, simply transfer
> the funds to the non-profit.
Neo-Roman Law or Civil Law, which is that which exists in continental Europe, and English Law or Common Law, which is that which exists in UK and USA, are two different legal systems. The "trust" is a figure of the English Law or Common Law. I think our dear Slávek Banko lives in continental Europe. If so, then the best legal figure is the association (in its meaning in Neo-Roman Law or Civil Law), which is also very quick to create (is instantaneous in many countries). Every organization has legal requirements that must be met during its operation, an association has less than a foundation or union, but it does not stop having (for example, annually to report the accounting register, membership register and meeting minutes register, the details depend on the country), so it is necessary to ask if Slávek wants and can have time.
The alternative option, which is not to create any type of organization and make money transfers to his personal account, may cause problems when declaring this income (necessary if the annual volume is significant) because it is an increase in his personal assets whose origin may not be so easy to justify (depending on his country's anti-money laundering laws). A personal account abroad is not a solution compared to a personal account in his country, due to the exchange of financial information between countries, and that any person must also legally declare their assets abroad as well as their assets within this country.
Best regards,
>> but this has yet to happen.
>>
>> With release R14.1.0 coming soon, I would like to propose for donations to be
>> temporarily redirected to Slavek, till the TDE non profit organization is
>> established.
>> If Slavek needed to pay additional taxes due to the temporary donation income,
>> I suggest those would be paid out of the donations themselves.
>
> Just have Slavek be the trustee for the "TDE Project Trust". That way he
> simply holds the funds for the benefit of TDE and there are no tax
> consequences to him.
>
> To establish the trust just make a short memo (in whatever TDE uses to keep
> notes of what the project does) that the "TDE Project Trust" is being created
> with Slavek as the trustee for the benefit of the TDE Project until the TDE
> Non-Profit is created. No other formalities are required.
>
> Slavek collects the funds, and then the Non-Profit is created, simply transfer
> the funds to the non-profit.
Neo-Roman Law or Civil Law, which is that which exists in continental Europe, and English Law or Common Law, which is that which exists in UK and USA, are two different legal systems. The "trust" is a figure of the English Law or Common Law. I think our dear Slávek Banko lives in continental Europe. If so, then the best legal figure is the association (in its meaning in Neo-Roman Law or Civil Law), which is also very quick to create (is instantaneous in many countries). Every organization has legal requirements that must be met during its operation, an association has less than a foundation or union, but it does not stop having (for example, annually to report the accounting register, membership register and meeting minutes register, the details depend on the country), so it is necessary to ask if Slávek wants and can have time.
The alternative option, which is not to create any type of organization and make money transfers to his personal account, may cause problems when declaring this income (necessary if the annual volume is significant) because it is an increase in his personal assets whose origin may not be so easy to justify (depending on his country's anti-money laundering laws). A personal account abroad is not a solution compared to a personal account in his country, due to the exchange of financial information between countries, and that any person must also legally declare their assets abroad as well as their assets within this country.
Best regards,
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