This clarification explains that a Family Foundation lacking a separate legal personality is automatically tax transparent. A foundation with a separate legal personality can apply for this status if it meets the conditions in Article 17 of the Corporate Tax Law. Wholly owned holding companies and SPVs of a transparent foundation can also apply for this status. Single or Multi Family Offices not meeting Article 17 conditions are treated as standard Taxable Persons. Family members are generally not subject to Corporate Tax on income if it qualifies as Personal or Real Estate Investment income.