This marks an important step after many years of hard work and lobbying in this direction by the European Foundation Center. This proposal will be sent to the Council of Minister representing the 27 members states for review and approval and to the European Parliament for its consent. It is expected that the discussions will be initiated in the coming month. For Luxembourg foundations a European Foundation Statute will offer them an appropriate legal tool to perform and increase their work and operations across Europe. It enables them to operate in any other EU country without creating a new entity, thus signifanctly reducing the cost and the legal uncertainty. The supervision of the foundations under the proposed European Foundation Statute is suggested to remain with the national authority. 

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