Trust Registration
Trust Registration is the easiest and most convenient way of commencing a non-governmental organization. It involves services that aim for social contribution in the form of education, medical help, or undertaking activities of public utility that promote public welfare.
Parties Involved in the Trust Registration Process:
Trustor - The person who creates the trust
Trustee - Individual who holds the trust property given by the trustor.
Beneficiary - Individuals or a group for whom the trust is created.
Types of trusts, which can be registered
Societies - Institutions that focus on the promotion of science, arts, and commerce. All the activities are conducted by society and are regulated under the Societies Registration Act, 1860.
Private Limited Trusts - The beneficiaries include specific individuals, families, or close ones. It is regulated under the Trusts Act, 1882.
Public Limited Trusts - The beneficiaries include the public at large and are established for charitable, educational, and religious purposes.
In India, the most common public trusts are religious and charitable trusts
A company formed under Section 8 of the Companies Act (2013) - Private Limited Companies that are registered under section 8 of the companies act. However, these companies cannot carry out businesses to make profits.
Perquisites for Creating Trusts
To form a public charitable trust, there must be a settlor of trust or someone at whose will the Trust is created along with the following mandatory prerequisites:
Documentation Required for Trust Registration in India
Following are key documents that one needs to arrange for the trust registration:
Content of the Trust Deed
It is the primary and the most essential document of the trust which states the reason for registering a trust, its functions, working, and closure. Following are the important clauses/contents:
Steps for Registering the Trust in India
Must fill the application and must be made to the official having jurisdiction in the state for Trust registration.
Select the name for the proposed Trust. It should comply with the name should fit the provisions of the Emblems and Names Act, 1950 & there should be no violation whatsoever when it comes to the Trademark Act.
Drafting a trust deed to make the trust legally enforceable
Once the form is filled, the applicant must sign it in preparation in the presence of the Regional Officer or Superintendent of the Regional Office of the Charity Commissioner or a Notary.
How Muneembhai Simplifies the Process of Registering a Trust?
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