Myths about applying for a charity (commonly known as 88 license)
2024-7-18
Recently, many customers have inquired about applying for an 88 license, such as: What are the qualifications? how to apply? Is it difficult to apply?The fact is: the review and approval process for applying for an 88 license is becoming increasingly strict, and the requirements for plans and supporting evidence to be provided are getting higher and higher; but as long as the "strict" requirements are met, it is still possible.
According to our company’s experience, many customers have the following myths about applying for an 88 license:
Question 1: The more activity information you provide, the easier it will be to get approved? Answer 1: No. Regardless of the activities that have been held or the activities that will be carried out, quality is more important than quantity. The key points are: making a contribution to Hong Kong society and complying with the purpose of the applicant organization;
Question 2: The governing members must be celebrities Answer 2: It’s good to have it, but it won’t have much impact if you don’t. The main principle is to ensure that members have "clean background". The number of people and required qualifications must comply with the organization’s articles of association;
Question 3. The articles of association of an organization are very different from those of a general limited company. Answer 3: Yes, basically completely different. Generally, companies aim to make profits. But charities are just the opposite. They are not seeking profit, but only seeking services. There are strict restrictions on the use of funds, expenditures, etc., so it is necessary to "tailor-make" the articles of association and strictly comply with the regulations of the tax bureau.
Our company has many years of experience in applying for charitable organizations, and has had many successful cases this year. If customers are interested in setting up a charity or applying for an 88 license, please contact us.
(Some pictures are taken from the public Internet. If there is any copyright, please inform us to delete them)
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