Boats in the Water

NPO Registration process

The NPO, 2019 Act requires the following:

1/ Register

All NPOs must register under the Act. A NPO shall not carry out operations unless it is registered. How to register:

Submit application form with payment of a fee ($100 for new NPO – Nil for existing - $50 for renewal) and supporting documents:

  • Declaration of purposes of the NPO;

  • Proof of identity of the controller and other members of the NPO

  • Copies of constitutive documents

  • Evidence of board structure

Registrar will register the NPO and issue a certificate of registration. (to be renewed every 2 years)

2) Appoint a controller

Every NPO must have a controller

  • Company limited by guarantee = a director

  • Unincorporated Association = a person responsible for all aspects of management and administration

Duties of a controller:

  • Sign the application for registration of the NPO and certify that the information provided is true to the best of his/her knowledge;

  • Sign the Declaration form of availability of financial records;

  • Shall cause reliable financial records t be kept at the registered office;

  • Notify to the Registrar any changes in the NPO;

  • Point of contact between NPO and Registrar.

3) Record Keeping

A NPO shall keep at its registered office records that are sufficient to show:

  • Its purposes, objectives and activities;

  • The identity of persons who control or direct its activities

4) Obligation to maintain reliable financial records (if gross income exceed $75,000 per annum)

Financial records=records that explain a NPO transactions to demonstrate that its funds have been used in a manner consistent with its purposes + sources of its gross annual income.

To be maintained for 5 years at its registered office

5) Declaration of availability of financial records

Declaration stating that the NPO maintains reliable financial records and they shall be made available through its registered office

Needs to be submitted

  • within 90 days of its registration (for new NPO)

  • within 60 days of the coming into force of this Act (for NPO already registered under the old regulations)

6) Declaration of reportable donations

Declaration that the NPO is maintaining record at its registered office in respect of any donation that is $100,000 and above (in a lump sum or aggregate sum).

Exceptions: religious entities, constituent units of umbrella organisations

Contact

Mark A. Palmer

OEFSEA

OEF Nassau Office

24 Virginia Street

Nassau, The Bahamas

​​

Tel: 242-465-6763​

markpalmer@oneeleuthera.org

© 2020 One Eleuthera Foundation

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