Registering A Non Profit Entity Essay
Ref link: http://www.sbsgroup.com.sg/incorporation/setting-up-a-non-profit-entity-in-singapore/
Registering a Non-Profit Entity in Singapore
A large number of people are interested in doing their bit in the interest of society and public. Singapore allows them to register non-profit organizations (NPO) and give their efforts a legal status.
Types of Business Structures
A Charitable Trust
A Public Company Limited by Guarantee
In Singapore, the interested parties can use one of these business structures to setup company in Singapore as an NPO. These individuals must apply to the Company Registrar of Singapore (ACRA) to open a company in Singapore.
ACRA (Accounting and Corporate Regulatory Authority) acts in the capacity of the Company Registrar. It governs all the companies that are registered in Singapore, including the NPOs.
Registering an NPO as a Charitable Trust
A charitable trust is established to promote a purpose and rather than the welfare of an individual. A board of trustees is appointed to govern its activities strictly following the trust deed or the constitution of the trust. They are not answerable to the rest of the trust members.
In the first step, a non-profit entity is incorporated. The Singapore Charities Act governs these entities. The incorporation of these entities is costly. The entity then can apply, within 3 months from their incorporation, to the Commissioner of…