We’ve already written about the process and steps to set up a charitable trust in New Zealand (here).  But what next?

Once you’ve signed a Trust Deed and set up a charitable entity and just freshly received a certificate of incorporation from Companies Office then … congrats!  But what next?  Here is a list of steps we suggest you consider as a checklist of other things to do:

–       Open a bank account – usually can be done with certificate of incorporation – these days expect many queries about proof of funds and about identity of trustees.  It may pay to shop around as well;

–       Apply to Charities Services for registration as a charity, if you want to be charitable – if you’ve had our input on creating the charitable trust then we will be helping you with this as well;

–       Obtain common seal – yes, this is still required –  we’ve written more on this here – they can be prepared by this company https://shop.montarga.co.nz/collections/common-seal;

–       Keep good records of minutes of the Trustees meeting and other documents like contracts – we even have some templates you can adapt;

–       Consider what insurance might be needed?  Best to talk to a broker about this as it will depend on what activities you are undertaking;

–       Always keep an eye on how much your activities are going on overseas so it doesn’t creep above 25% as that could have implications for your tax donee status (see here); and

–       Prepare a terms of use for website and perhaps a privacy policy if collecting information – we can assist if needed.

We hope that checklist is of use to you and all the best as you start on the journey of doing good with the new charitable entity!