Trust Registration

Introduction

A trust is a legal entity that is created by one person (settlor) to transfer assets to another person (trustee) for the benefit of a third person (beneficiary). Trusts can be used for a variety of purposes, such as to manage the assets of a minor child, to provide for a disabled person, or to support a charitable cause.

Trust registration in India is not mandatory, but it is recommended as it offers several benefits, such as:

• Legal recognition: A registered trust is a legal entity and has the right to sue and be sued.
• Tax benefits: Registered trusts are eligible for tax exemptions on their income.
• Credibility: A registered trust is seen as a more credible organization than an unregistered trust.
• Access to government grants and subsidies: Registered trusts are eligible for various government grants and subsidies.

 

LEGAL FRAMEWORK

The Indian Trusts Act, 1882, is the primary legislation governing trusts in India. The Act sets out the requirements for creating and registering a trust. Trusts are legal entities that are created to hold and manage property for the benefit of others. The settlor, or creator of the trust, transfers property to the trust, and the trustee(s) are responsible for managing the property and distributing it to the beneficiaries in accordance with the terms of the trust deed.

In India, the legal framework for trust registration is governed by the Indian Trusts Act, 1882. The Act applies to all private trusts in India, except for religious and charitable trusts, which are governed by separate state-specific laws.

To register a trust under the Indian Trusts Act, the following requirements must be met:

• The trust must be created for a lawful purpose.
• The trust must have at least two trustees.
• The trust deed must be executed on stamp paper and signed by the settlor and all trustees in the presence of two witnesses.
• The trust deed must be registered with the Registrar of Trusts in the district where the trust is headquartered.

 

DOCUMENTS REQUIRED

The following documents are required for trust registration in India:

• Trust deed: The trust deed is a legal document that sets out the terms and conditions of the trust. It must contain the following information:
• The name of the trust
• The objects of the trust
• The names of the settlor, trustee, and beneficiary
• The assets of the trust
• Application form: The application form for trust registration must be filed with the Registrar of Trusts. The form must contain the following information:
• The name of the trust
• The objects of the trust
• The names of the settlor, trustee, and beneficiary
• The assets of the trust
• Fees: A registration fee must be paid to the Registrar of Trusts.

 

PROCEDURE

The procedure for trust registration in India is as follows:

1. Draft the trust deed.
2. File the application form for trust registration with the Registrar of Trusts.
3. Pay the registration fee.
4. Obtain a certificate of registration from the Registrar of Trusts.

 

FEATURES OF A REGISTERED TRUST

The following are some of the key features of a registered trust in India:

• A registered trust is a legal entity and has the right to sue and be sued.
• Registered trusts are eligible for tax exemptions on their income.
• Registered trusts are seen as more credible organizations than unregistered trusts.
• Registered trusts are eligible for various government grants and subsidies.

 

WHY CORPIQ IS THE BEST PLACE TO GET TRUST REGISTRATION

CorpIQ is a leading provider of corporate services in India. We can help you with all aspects of trust registration, from drafting the trust deed to filing the required forms with the Registrar of Trusts.

We have a team of experienced professionals who are well-versed in the latest laws and regulations governing trusts in India. We can also help you obtain a certificate of registration from the Registrar of Trusts.

We offer a comprehensive range of services at competitive prices. We are committed to providing our clients with the best possible service and support. Contact CorpIQ today to learn more about how we can help you with trust registration.

Additional Benefits of Using CorpIQ for Trust Registration

• Convenience: CorpIQ can handle the entire process of trust registration on your behalf, saving you time and effort.
• Peace of mind: Using CorpIQ for trust registration gives you the peace of mind knowing that your trust is being registered accurately and on time.
• Expert advice: CorpIQ can provide you with expert advice on all aspects of trust registration, including the drafting of the trust deed, the selection of trustees, and the compliance with the latest laws and regulations.

Contact CorpIQ today to get started with your trust registration process.