Singapore Company Setup provides basic information on Registration of Charities in Singapore

June 27, 2009 - PRLog -- Registration of Charities in Singapore

This guide aims to shed light on some of the basic information on registering charities in Singapore.

What is a Charity?

A charity is an organisation / trust / foundation that is exclusively set up exclusively for charitable purposes.  Charitable purposes can be classified into four main categories:

1.   relief of poverty
2.   advancement of education
3.   advancement of religion
4.   other charitable purposes which help and benefit the community

Who Must Register as a Charity?

You can register a charity as long as your organization/trust/foundation is set up exclusively for charitable purposes.

All charities that are set up in Singapore are required to be registered with the Commissioner of Charities (IRAS office) within 3 months of its set-up.

A charity may be set up as a:

1.   Company limited by guarantee - A public company limited by guarantee is one which carries out non-profit making activities that have some basis of national or public interest, such as for promoting art, charity etc. The Minister may approve the registration of the company without the addition of the word “Limited” or “Berhad” to its name.  

2.   Society - A society is defined in the Societies Act as a club, company, partnership or association of 10 or more persons, whatever its nature or object, and not already registered under any other law.  

3.   Foundation - A foundation is an institution or association with a permanent fund dedicated to charitable, educational, religious, research or other benevolent purpose. It is generally supported by gifts and donations.

4.   Trust Under A Trust Deed - The charitable trust constituted by the deed and its property ("the trust fund") shall be administered and managed by the trustees.
What are the Documents Needed for Application?
The following documents are required and should be submitted together with the application form:

•   Signed copy of the Governing instrument;
•   Certified Statements of Accounts for the last 3 financial years (if applicable); and
•   Particulars of all Charity Trustees including the Name, NRIC No.; Address, Date of Appointment and their Position on the Board/Committee.

What are governing instruments?

Constitutions for charities set up as societies, and Memorandum and Articles of Association for those set up as companies.

To meet the requirements for registration under the Singapore Charities Act, the governing instrument should include the following provisions:
•   Objectives of establishing the charity
•   Management
•   Quorum
•   Amendments to the governing instrument
•   Dissolution
•   IPC Status

If your organization has multiple charitable objectives (e.g. promotion of arts and social welfare), you may apply for the approved IPC status. However, if yours is an organization with single charitable objective (e.g. promotion of arts only or social welfare only), then you may apply to be a Related Approved IPC in order to enjoy the approved IPC status. All IPCs are required every year to provide donations information to IRAS.

If you wish to proceed to order for the above business entity, please call our Business Advisory Team at (+65) 64388887, who can assist with the business setup including the opening of your corporate bank account. Clients are invited to either visit our office. You may also email you’re enquires at: info@rikvin.com

Please click on the following link for our Services & fees:  http://www.rikvin.com/Singapore-Company-Registration-Setu...

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