Kinley Legal is able to advise the founders, trustees, directors and enforcers of philanthropic organisations and foundations on matters of relevant charity, corporate, trust, foundation and regulatory law.
Traditionally, such organisations have taken a variety of forms under Isle of Man law, whether as unincorporated associations, companies limited by guarantee (with or without a share capital), purpose trusts or trusts established for the benefit of specified persons. Whether or not such a structure is required (or able) to register as a charity will depend upon its intended activity. Increasingly, the Isle of Man is being used for more international, and not simply domestic, arrangements.
With the coming into force of the Foundations Act 2011, the Isle of Man introduced an additional type of structure. Foundations of a type similar to that available in civil law jurisdictions may be established under that Act for charitable, non-charitable or mixed purposes. A foundation must appoint the holder of an Isle of Man financial services licence as its registered agent and a council to administer its assets and carry out its objects in accordance with a public foundation instrument and private rules. Where a foundation has been established for a non-charitable purpose, an enforcer must be appointed to ensure the non-charitable objects are pursued.
Kinley Legal can assist in terms of:
- advising on the formation and registration of charities, whether as unincorporated associations, mutual companies or as trusts;
- advising on the formation of specialist charities exempt from registration pursuant to the Charities (Exemption) Regulations 2008;
- preparing constitutional documents for mutual companies, deeds for trusts and rules for unincorporated organisations, whether charitable or non-charitable;
- preparing of foundation instruments (charters) and rules for foundations established under the Foundations Act 2011 for charitable, non-charitable or mixed benefit; and
- advising on changes to the constitution, governance, regulatory, ownership and membership structure of philanthropic organisations on an ongoing basis.
For more information on Kinley Legal’s philanthropic organisations and foundations practice, please contact Christopher Kinley, or if you would prefer for us to call you, please complete our simple contact form.