| Our ranking in order of preference |
2 |
1 |
3 |
4 |
| Summary |
|
|
|
|
| What government regulatory licence required? |
Charity |
Grantmaker |
Foundation |
Association |
| Maximum % of foreign ownership to secure non-profit status |
1 |
1 |
0.49 |
0.49 |
| Charitable activities to benefit locals of the country (partially/fully/not required) |
Yes, fully |
Yes, partially |
Yes, fully |
Yes, fully |
| Preferred holding structure for subsidiaries in South East Asia |
No |
No |
No |
No |
| Minimum paid up capital required to secure non-profit status |
S$1 |
S$1 |
250 – 500,000 THB |
1 THB |
| Can entity distribute funds to international commodities projects ? |
Yes |
Yes |
Yes |
Yes |
| Properly structured, is the entity legally exempt from corporation tax? |
Yes |
Yes |
Yes |
Yes |
| Probability the directors or bank signatories must travel during engagement |
0.75 |
0.75 |
1 |
1 |
| Can the Asian structure hire local and expatriate Staff? |
Yes |
Yes |
Yes |
Yes |
| Are local office premises required? |
Yes |
Yes |
Yes |
Yes |
| How soon can our Firm supply company incorporation number? |
1 week |
1 week |
4 months |
4 months |
| How soon can we supply corporate bank account numbers? |
3 months |
3 months |
1 month |
1 month |
| How soon can we supply charity (or equivalent) certificate? |
6 months |
6 months |
1 year |
1 year |
| Total business set up fees, including government costs |
US$38,950 |
US$28,950 |
US$32,950 |
US$32,950 |
| Non-profit registration requirements |
|
|
|
|
| Recommended type of business entity to secure non-profit status |
PLG |
PLG |
Foundation |
Association |
| Legal company name will end with what term? |
Limited |
Limited |
Limited |
Limited |
| What government regulatory licence required? |
Charity |
Grantmaker |
Foundation |
Association |
| Maximum % of foreign ownership to secure non-profit status? |
100% |
100% |
49% |
49% |
| Charitable activities to be rendered to locals? (partially/fully/not required) |
Fully |
Partially |
Fully |
Fully |
| Minimum amount of paid up capital required to secure non-profit status? |
S$1 |
S$1 |
250 – 500,000 THB |
1 THB |
| Resident country citizen director or trustee required to secure non-profit status? |
Yes, 2 |
Yes, 1 |
Yes, 1 |
Yes, 1 |
| Grants received from EU authorities subject to tax in Thailand / Singapore? |
No |
No |
No |
No |
| Public disclosure of fund-raising information? |
Yes |
Yes |
Yes |
Yes |
| Statutory audit of financial statements required? |
Yes |
Yes |
Yes |
Yes |
| Our Client’s team can be sole foreign directors? |
No |
No |
No |
No |
| Local resident company agent/secretary/accountant required? |
Yes |
Yes |
Yes |
Yes |
| By when will our Client be ready to receive donations from EU governments? |
2021 |
2021 |
2021 |
2021 |
| Legal & accounting and tax considerations |
|
|
|
|
| Properly structured, is entity legally exempt from corporation tax? |
Yes, for donations |
Yes, for donations |
| Frequency of government regulatory reporting |
Annual |
Annual |
Bi-annual |
Bi-annual |
| Can entity use donations to finance international agri-projects? |
Yes |
Yes |
Yes |
Yes |
| What withholding tax when transferring US$1 million profit back to Netherlands? |
0 |
0 |
7%-15% |
7%-15% |
| What withholding tax when transferring US$1 million profit back to Hong Kong? |
0 |
0 |
7%-15% |
7%-15% |
| Must file annual financial statements by what date (for December year-end)? |
30 June |
30 June |
31 May |
31 May |
| Must file annual corporation tax return by what date (for December year-end)? |
30 Nov |
30 Nov |
31 May |
31 May |
| DTA and information sharing agreements signed with Netherlands? |
Yes |
Yes |
Yes |
Yes |
| DTA and information sharing agreements signed with Hong Kong? |
Yes |
Yes |
Yes |
Yes |
| What charitable activities allowed under this entity? |
(Click link) |
(Click link) |
(Click link) |
(Click link) |
| Is charity insurance available in this jurisdiction? |
Yes |
Yes |
No |
No |
| Limited liability for shareholders? |
Yes |
Yes |
Yes |
Yes |
| Banking considerations? |
|
|
|
|
| Our preferred multi-currency corporate bank account location |
Singapore |
Singapore |
Thailand |
Thailand |
| How long to secure corporate bank account approval? |
3 months |
3 months |
1 month |
1 month |
| Probability our Client needs to travel for corporate bank account opening |
0.75 |
0.75 |
1 |
1 |
| Do we recommend to secure bank account numbers with local HSBC branch? |
Yes |
Yes |
No, TMB |
No, TMB |
| Corporate bank account opening fees payable to the bank? |
TBC |
TBC |
20,000 TBH |
20,000 TBH |
| Overseas remittance currency controls when repatriating funds to EU |
None |
None |
Only for THB |
Only for THB |
| Corporate bank account can receive donations/grants/consultancies? |
Yes |
Yes |
Yes |
Yes |
| Minimum deposit to maintain in corporate bank account |
US$1 million |
US$1 million |
20,000 TBH |
20,000 TBH |
| Bank charges on incoming/ outgoing funds transfers? |
|
|
|
|
| Legalisation, attestation and notarisation of parent co documents required? |
Yes |
Yes |
Yes |
Yes |
