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The Advocate April 2016 Welcome to The Advocate, the official newsletter of the Special Needs Foundation of Cayman Ltd (NFC×. LETTER FROM THE BOARD OF DIRECTORS Dear Friends and Members of NFC, April
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Research the requirements: Begin by understanding the legal and regulatory requirements for establishing a foundation in the Cayman Islands. This may involve consulting with a professional or conducting thorough research on the necessary documentation and processes.
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Choose a name: Select a suitable and unique name for your foundation. Ensure that it complies with Cayman Islands' naming guidelines and does not infringe upon any trademarks or existing entities.
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Appoint a founder and council members: Identify an individual or entity to act as the founder of the foundation. The founder is responsible for initiating the establishment and operations of the foundation. Additionally, appoint council members who will supervise and administer the affairs of the foundation.
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Prepare the Memorandum and Articles of Association (M&A): Draft the M&A, which outlines the foundation's bylaws and rules governing its operation. This document should include details such as the objectives, powers, and regulations of the foundation, as well as the roles of the founder, council members, and beneficiaries.
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Determine the initial endowment: Decide on the initial endowment or assets that will be contributed to the foundation. This endowment can be in the form of cash, property, investments, or any other valuable assets that will serve the foundation's goals and purposes.
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Engage professional service providers: Seek the assistance of professional service providers, such as lawyers, accountants, or company formation agents, to ensure compliance with all legal and regulatory requirements. They can help with preparing the necessary documents, completing any required filings, and guiding you through the process.
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File the necessary documents: Submit the required documents, including the M&A, to the Cayman Islands' Registrar of Companies or relevant authority. Pay any applicable fees and adhere to any additional procedures or requirements as stipulated by the authority.
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Maintain ongoing compliance: Once the foundation is established, it must maintain ongoing compliance with Cayman Islands' laws and regulations. This may involve filing annual returns, holding regular meetings, keeping proper records, and fulfilling any other obligations mandated by the jurisdiction.

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High-net-worth individuals: Individuals with significant wealth may choose to establish a foundation in the Cayman Islands to protect and manage their assets, as well as to facilitate philanthropic activities.
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Family offices: Family offices, which handle the financial affairs of wealthy families, often opt for foundations as a vehicle for managing the family's wealth, succession planning, and supporting charitable causes.
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Philanthropists: Those looking to create a lasting legacy and contribute to charitable endeavors may establish a foundation in the Cayman Islands. A foundation can provide a structured and sustainable platform for their giving and support causes they are passionate about.
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Corporations and businesses: Companies can also establish foundations in the Cayman Islands as part of their corporate social responsibility initiatives or to support specific charitable causes aligned with their values and goals.
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Non-profit organizations: Existing non-profit organizations that operate internationally may choose to establish a foundation in the Cayman Islands to benefit from its favorable tax environment, political stability, and well-regulated financial services sector.
Please note that it is essential to consult with professionals and consider individual circumstances when deciding to establish a foundation in the Cayman Islands.

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