Foundations Act Article 9

A foundation’s total endowment property at the time of its establishment shall be sufficient to attain its establishment purpose. The competent authority shall stipulate the minimum amount required for establishment (“minimum requirement”) in accordance with the nature of the respective business area under its administrative authority. However, the minimum requirement stipulated by the competent authority for local foundations shall not exceed those for national foundations.The endowment property set out in the preceding paragraph may be in cash, or movable property, real property or securities in lieu thereof. The competent authority may stipulate the percentage of cash in accordance with the nature of the respective business under its administrative authority.