Why register a Canadian foundation and what are the advantages?
Achieve charitable goals: Registering a charitable foundation can make your charitable work formal and legal, allowing you to better pursue your charitable goals and vision.
Tax benefits: Charitable foundations often receive tax benefits, such as exemption from certain taxes or tax deductions for donors. This can attract more people to participate in and support your charitable activities.
Credibility and trust: Registering a charitable foundation can increase the transparency and credibility of your organization, making donors more willing to donate to you.
Donation liquidity: As a charitable foundation, you can more easily accept donations, manage donated funds, and decide how to use these funds to support your charitable projects.
Legal and regulatory protection: Registering a charitable foundation can provide legal protection and regulation for your organization, ensuring compliance with relevant laws and policies.
Community impact: A legally registered charitable foundation usually has a greater impact in the community, attracting more volunteers and partners.
We are responsible for:
Preparation stage:
Identifying the purpose and goals of the foundation, clarifying your charitable mission and vision.
Determining the name of the foundation, ensuring that the name complies with the regulations of the Accounting and Corporate Regulatory Authority (ACRA) of Singapore.
Seeking professional advice:
Seeking advice from lawyers or registered accountants to ensure that you fully understand the legal and financial requirements of registering a foundation.
Drafting the constitution:
Preparing the foundation's constitution, which should include relevant information such as the name of the foundation, objectives, organizational structure, responsibilities and rights of directors and board members, financial management, etc.
Establishing the board of directors:
The board of directors should consist of at least three members, with at least one director being a Singapore citizen or permanent resident. The board of directors is responsible for managing and supervising the operation of the foundation.
Registering the foundation:
Submit all necessary documents, including the foundation's constitution and personal information of board members, to the Accounting and Corporate Regulatory Authority (ACRA) of Singapore for registration.