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The not-for-profit organization is a broad term for all independent organizations whose purpose is something else other than to make a private profit for directors, members, or shareholders.
There are various types of not-for-profit organizations, these include but not limited to: NGOs, Companies Limited by Guarantee, Community-based Organizations, Societies, Trusts, and even the branch of a foreign organization.
A community-based organization (CBO) is a registered non-governmental, non-profit and non-political organization. Within community-based organizations (CBOs), there are many variations in terms of size and organizational structure.
Some community-based organizations (CBOs) with a written constitution and directors are formally registered and incorporated. Others are much smaller and informal, are registered by the Ministry of Labour and Social Protection.
Another type of not-for-profit business structure is the registration of a charitable trust or foundation. A trust is an entity created to hold and manage assets for the benefit of others.
Under the Trustees Act, trusts can be registered as body corporates and established only for religious, educational, literary, scientific, social, athletic, or charitable purposes.
Charitable purposes may also be affected by forming a trust by way of a trust deed. (The trustees of a pension fund or provident fund may also apply to be registered as a body corporate).
We will need these details when registering your company:
- Propose 3 names for name search and reservation, in order of preference
- Objectives of the company – business activities the company will undertake
- Shareholders’ details – full names, occupation, addresses, proof of Identity documents, etc
- Directors’ details – full names, occupation, addresses, proof of Identity documents, photos, etc
- Number of shares to be held by each Shareholder
- Statement of Nominal Capital
- The physical address of the company
- Correctly completed Company registration form
- Memorandum of association
- Articles of association
- Notification of each Director’s residential address
The not-for-profit organization is a broad term for all independent organizations whose purpose is something else other than to make a private profit for directors, members, or shareholders.
There are various types of not-for-profit organizations, these include but not limited to: NGOs, Companies Limited by Guarantee, Community-based Organizations, Societies, Trusts, and even the branch of a foreign organization.
A community-based organization (CBO) is a registered non-governmental, non-profit and non-political organization. Within community-based organizations (CBOs), there are many variations in terms of size and organizational structure.
Some community-based organizations (CBOs) with a written constitution and directors are formally registered and incorporated. Others are much smaller and informal, are registered by the Ministry of Labour and Social Protection.
Another type of not-for-profit business structure is the registration of a charitable trust or foundation. A trust is an entity created to hold and manage assets for the benefit of others.
Under the Trustees Act, trusts can be registered as body corporates and established only for religious, educational, literary, scientific, social, athletic, or charitable purposes.
Charitable purposes may also be affected by forming a trust by way of a trust deed. (The trustees of a pension fund or provident fund may also apply to be registered as a body corporate).
We will need these details when registering your company:
- Propose 3 names for name search and reservation, in order of preference
- Objectives of the company – business activities the company will undertake
- Shareholders’ details – full names, occupation, addresses, proof of Identity documents, etc
- Directors’ details – full names, occupation, addresses, proof of Identity documents, photos, etc
- Number of shares to be held by each Shareholder
- Statement of Nominal Capital
- The physical address of the company
- Correctly completed Company registration form
- Memorandum of association
- Articles of association
- Notification of each Director’s residential address