Approved Charitable Institution / Non Profit Organisation

 

Incorporate Approved Charitable Institution ("ACI")
Generally speaking, for an institution or a trust to be a charity, it must be established for purposes which are exclusively charitable according to law. If the objectives of the company is not-for-profit and for charities etc.., we may assist for in the application for approved charitable institution (¡§ACI¡¨) and incorporate the company for such purpose.

Charitable purposes are :-
• relief of poverty;
• advancement of education;
• advancement of religion; and
• other purposes of a charitable nature beneficial to the community not falling under any of the preceding heads.

Some Tax Advantages to ACI :-
• exempted from tax;
• exempted from profts tax, if it carries on a trade or business. If (i) the profits are applied solely for charitable purposes, and (ii) the profits are not expended substantially outside Hong Kong, and either (iii-a)
  the trade or business is exercised in the course of the actual carrying out of the expressed objects of the institution or trust; or (iii-b) the work in connection with the trade or business is mainly carried on by persons for whose benefit such institution or trust is established
  
• exempted from paying business registration fee unless a trade or business is carried on

Application for Approved Charitable Institution
If you have your existing Hong Kong company, with not-for-profit motive, and consider it as non-profit-organisation ("NPO"). You would like to apply for approved charitable institution, we may assist the application. During the process, client is required to amend / modify the memorandum and articles of association (M&As) to fit such purposes. We will prepare the documents and assist the application.

Please refer our Fees Schedule for details.

Our aim is to provide a comprehensive service to our clients in Hong Kong and offshore operations. If you find above helpful, please free to contact us.