governance

Roger Akelius founded the Akelius Foundation in April 2007.

The Akelius Foundation is the ultimate owner of Akelius Residential Properties AB, owning 84 percent of the shares. 

Akelius Foundation is registered and domiciled in the Bahamas according to The Foundation Act, 2004, of The Commonwealth of The Bahamas.

The Registrar issued Certificate Number 73F.

The registered office of the Foundation is 

Lyford Manor
Western Road
Lyford Cay
P.O. Box CB 13007

Nassau
New Providence
Bahamas

Akelius Foundation is a legal entity, 
and established for an infinite period. 

The Foundation owns itself, 
and has no owners or members.

foundation framework is documented in the Charter

Roger Akelius stipulated the framework for the Foundation upon its establishment,
in a document named the Charter.

The Charter includes the purpose of the Foundation,
and how it should be governed and controlled.

the purpose of Akelius Foundation is charity

• children in need
• refugees and other people suffering from government actions, or in need of medical care
• contribution for development of education 

Per calendar year, the donations may not exceed five percent of the Foundation’s assets.

Akelius Foundation’s legal body is the Council

The Council consists of three to five members.

The members perform their duties with similar responsibility as the members of a board of directors of a Swedish limited company.

The Council governs the Foundation according to the Charter, the Foundation Act of 2004, and other applicable Bahamian laws.

the Protectors

The Protectors consist of two or three persons who are not council members.

The Protectors act as internal auditors for the foundation.

Their prime responsibility is ensuring that the Council members and the foundation perform their, and its mandate.

assets

The initial endowment of the Foundation is USD 15,000.

On 2007-06-22, Roger Akelius transferred an additional 85,000 shares in Akelius Apartment Ltd to the Foundation.

Akelius Apartment Ltd is a company incorporated, 
and registered in Cyprus.

It is the holding company of Akelius Residential Property AB.

As all assets in the Foundation are now vested, 
the assets are the sole property of the Foundation.

All the Foundation’s assets have ceased to be the property of the founder, or any other person.

Therefore, the assets shall not become the property of any beneficiary, unless distributed in accordance with the provisions of the Charter and the Articles.

With the focus on owning and managing residential real estate, 
business will continue in the Akelius Group for at least this century.

The Foundation may not have less assets than assets with a total value of ten thousand Bahamian dollars, 
or the equivalent in any other currency.

the Akelius Foundation has an open policy

Akelius Foundation publishes financial information, 
and other relevant information, 
on the Internet or through similar public media.

The Foundation uses the same auditing firm as the rest of the Akelius Group.