Southeast Asia Non-profit companies Comparison

Country corporate structureSingapore charitySingapore grant makerThailand foundationThailand association
Our ranking in order of preference2134
Summary
What government regulatory licence required?CharityGrantmakerFoundationAssociation
Maximum % of foreign ownership to secure non-profit status110.490.49
Charitable activities to benefit locals of the country (partially/fully/not required)Yes, fullyYes, partiallyYes, fullyYes, fully
Preferred holding structure for subsidiaries in South East AsiaNoNoNoNo
Minimum paid up capital required to secure non-profit statusS$1S$1250 – 500,000 THB1 THB
Can entity distribute funds to international commodities projects ?YesYesYesYes
Properly structured, is the entity legally exempt from corporation tax?YesYesYesYes
Probability the directors or bank signatories must travel during engagement0.750.7511
Can the Asian structure hire local and expatriate Staff?YesYesYesYes
Are local office premises required?YesYesYesYes
How soon can our Firm supply company incorporation number?1 week1 week4 months4 months
How soon can we supply corporate bank account numbers?3 months3 months1 month1 month
How soon can we supply charity (or equivalent) certificate?6 months6 months1 year1 year
Total business set up fees, including government costsUS$38,950US$28,950US$32,950US$32,950
Non-profit registration requirements
Recommended type of business entity to secure non-profit statusPLGPLGFoundationAssociation
Legal company name will end with what term?LimitedLimitedLimitedLimited
What government regulatory licence required?CharityGrantmakerFoundationAssociation
Maximum % of foreign ownership to secure non-profit status?100%100%49%49%
Charitable activities to be rendered to locals? (partially/fully/not required)FullyPartiallyFullyFully
Minimum amount of paid up capital required to secure non-profit status?S$1S$1250 – 500,000 THB1 THB
Resident country citizen director or trustee required to secure non-profit status?Yes, 2Yes, 1Yes, 1Yes, 1
Grants received from EU authorities subject to tax in Thailand / Singapore?NoNoNoNo
Public disclosure of fund-raising information?YesYesYesYes
Statutory audit of financial statements required?YesYesYesYes
Our Client’s team can be sole foreign directors?NoNoNoNo
Local resident company agent/secretary/accountant required?YesYesYesYes
By when will our Client be ready to receive donations from EU governments?2021202120212021
Legal & accounting and tax considerations
Properly structured, is entity legally exempt from corporation tax?Yes, for donationsYes, for donations
Frequency of government regulatory reportingAnnualAnnualBi-annualBi-annual
Can entity use donations to finance international agri-projects?YesYesYesYes
What withholding tax when transferring US$1 million profit back to Netherlands?007%-15%7%-15%
What withholding tax when transferring US$1 million profit back to Hong Kong?007%-15%7%-15%
Must file annual financial statements by what date (for December year-end)?30 June30 June31 May31 May
Must file annual corporation tax return by what date (for December year-end)?30 Nov30 Nov31 May31 May
DTA and information sharing agreements signed with Netherlands?YesYesYesYes
DTA and information sharing agreements signed with Hong Kong?YesYesYesYes
What charitable activities allowed under this entity?(Click link)(Click link)(Click link)(Click link)
Is charity insurance available in this jurisdiction?YesYesNoNo
Limited liability for shareholders?YesYesYesYes
Banking considerations?
Our preferred multi-currency corporate bank account locationSingaporeSingaporeThailandThailand
How long to secure corporate bank account approval?3 months3 months1 month1 month
Probability our Client needs to travel for corporate bank account opening0.750.7511
Do we recommend to secure bank account numbers with local HSBC branch?YesYesNo, TMBNo, TMB
Corporate bank account opening fees payable to the bank?TBCTBC20,000 TBH20,000 TBH
Overseas remittance currency controls when repatriating funds to EUNoneNoneOnly for THBOnly for THB
Corporate bank account can receive donations/grants/consultancies?YesYesYesYes
Minimum deposit to maintain in corporate bank accountUS$1 millionUS$1 million20,000 TBH20,000 TBH
Bank charges on incoming/ outgoing funds transfers?
Legalisation, attestation and notarisation of parent co documents required?YesYesYesYes

Contact us

For additional information on our incorporation services, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi