(Draft – August 2025)

1. Entity Structure

👉 Best-fit: Company Limited by Guarantee (CLG)

• True non-profit foundation model.
• No shareholders; only members (directors).
• Surplus reinvested into mission (supporting Ramesh’s career + community legacy).
• Recognized by MAS as a social/impact entity, not a commercial NFT “issuer.”

📌 Alternative: Private Limited Company (Pte Ltd) — if you want commercial flexibility, but optics are weaker than CLG for “Foundation.”

2. Incorporation Steps

1. Name Reservation: “Budhihal Base Foundation (Singapore)” via ACRA BizFile+.
2. Directors: At least 2 local directors (Singapore residents or PRs required). Foreign directors allowed as additional.
3. Members: CLG requires at least 1 member (non-shareholding).
4. Constitution Filing: Drafted to include:
   • Mission: supporting athlete development & cultural legacy through NFTs as collectibles.
   • No profit distribution clause.
5. Registered Office: Local Singapore address required.
6. Bank Account: Open with local bank (DBS, OCBC, UOB) or MAS-recognised fintech bank (XanPool, StraitsX) — note some reluctance with crypto, but easier if framed as “foundation.”
7. Timeline: ~2–4 weeks from name reservation to incorporation.
8. Costs: SGD 315 for CLG incorporation (ACRA fee) + legal/admin costs (~USD 5,000–8,000 with local firm support).