Brussels, 07/02/2012 (Agence Europe) - On Wednesday 8 February, EU Internal Market Commissioner Michel Barnier unveiled a draft regulation setting up an EU legal status for multinational charity foundations in areas like research, health care and culture. Registered in any member state and with start-up capital of at least €25,000, a “European foundation” can be started from scratch or by merging national foundations. The European Commission says there would be several advantages to setting up a European foundation - such as easier and cheaper management of funding within the EU, and greater visibility and credibility conferred by the EU label without losing the tax benefits available to foundations under national legislation. (MB/transl.fl)