Apply for a Charity 88 License

First incorporate a Hong Kong company limited by guarantee under the Hong Kong Companies Ordinance: this requires at least two directors, and there is no restriction on the nationality of the directors.

Then appoint us to act as the tax representative, responsible for communicating with the tax department and applying for an 88 license.

With charitable tax-exempt status a charity is not subject to income tax, can legally collect donations, and can apply for funding schemes from the government and other agencies. Please enquire for fees.

Trust or Company Service Provider licence TC010617

Key points to apply

Incorporation of a Hong Kong company limited by guarantee: The establishment of a company limited by guarantee under the Hong Kong Companies Ordinance requires at least two directors, and there is no restriction on the nationality of the directors.

Application for charitable tax-exempt status: appoint us to act as the tax representative, responsible for communicating with the tax department and applying for an 88 license.

Public interest requirements: The aims and objectives of the charity must be in line with the public interest requirements, such as helping the poor, promoting education, promoting religion, helping the sick, helping the disabled, protecting the environment, etc.

Advantage

Tax Zero: Charitable tax-exempt status allows charities to enjoy tax benefits and is not subject to income tax.

Apply for designated funding: Charities can apply for funding schemes from the government and other agencies to receive financial support.

Increased competitiveness: Having an 88 license can enhance the reputation and credibility of the charity, and increase its competitiveness in the same industry.

Collect donations: Charities can legally collect donations and provide donors with the opportunity to recognize tax refunds.

Branding and awareness: Charities can run soft brand advertising to increase public awareness and awareness.

Low/waived fees: Charities can enjoy low or waived venue rentals and office fees.

Regulatory requirements for charities

Asset limitations: The charity's assets must only be used to promote its purpose and cannot be used for distribution among members.

Prohibition of profit distribution: Charities prohibit the sharing of income and property among members.

Remuneration restrictions: Directors and members of governing bodies of charities are not eligible to receive remuneration.

Disclosure of interests: Charities require members of governing bodies to disclose material interests in relation to the organization.

Financial records: Charities are required to keep adequate records of income and expenditure, including receipts of donations, proper accounting and annual financial reporting.

Charitable donations made by the Inland Revenue Department and tax-exempt charities

https://www.ird.gov.hk/chi/tax/ach.htm

Apply for a Charity 88 License

Key points to apply

Advantage

Regulatory requirements for charities

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