Accomplish Trust Registration in Bangalore With Us!
Safeguard Your Legacy & Make A Generational Impact
Actax India is how your philanthropic vision comes to life. Having dealt with the registration of trusts all over Bangalore our professional team will guide you through the process of trust registration in Bangalore and subsequent establishment in the shortest time possible without compromising the legal requirements to create a trust that will stand the test of time and deliver the intended impact.
Why Should You Get Your Trust Registered in Bangalore?
Credibility and Transparency
Registered trusts help to establish credibility with the donors and the beneficiaries as you show your commitment to an issue.
Maximized Impact
Registered trusts benefit from tax relief on the donations made and this means that the available funds for charitable purposes can go even further.
Enduring Legacy
The resources of your trust can keep working even after your death, thus extending your charitable impact across generations of beneficiaries.
Structured Management
A standard trust deed defines the intended purpose of the trust funds along with mentioning the management structure and investment strategy of the funds, which can only be obtained through registration.
Enjoy A Seamless Journey of Trust Registration in Bangalore With Actax India
Free Consultation
Our professionals ask a few necessary questions to the trustees, regarding the purpose and objectives of the trust, and other associated concerns.
Expert Document Guidance
We then systematically present a checklist of documents to you to collect all papers required for registering your trust in Bangalore.
Tailored Trust Deed Drafting
Regarding the trust deed, our legal department prepares a highly personal document that will meet your concept 100% and strictly adheres to the law.
Registration Support
We assist you with all the formalities involved in the process of trust registration in Bangalore, without you worrying or needing to do a thing.
Ongoing Compliance Support
We provide constant guidance regarding the management of trusts, along with providing regulatory compliance required as an after-service.
Essential Documents for Trust Registration in Bangalore - A Simple Checklist!
Trust Deed
Executed on the correct stamp paper consisting of the provisions of the trust.
Trustee Identification
Two passport-size photographs, photocopies of the trustees’ PAN card, and other valid photo identity proof like Aadhar Card or Voter Card.
Registered Office Proof
Utility bill or any other document proving the registered office address of the trust.
Proof of Property
Any evidence like title deeds of properties owned by the trust, if applicable.
No Objection Certificate
From the property owner in case the trust uses premises, which is let out.
Process of Trust Registration in Bangalore
Trust registration in Bangalore is usually facilitated in the following steps:
Name of the Trust
Select a suitable name for the trust to ensure that they are compliant with the Trademark Act of 1999, the Copyright Act of 1957, other Intellectual Property Rights, and the Emblems and Names Act of 1950.
Settlers of the Trust
Identify persons who will act as settlers of the trust. There is usually no limit to the number of trustees although the organization must have at least two trustees. Benefactor cannot be a trustee and all the trustees should be Indian citizens.
Memorandum of Association (MOA)
The Memorandum of Association (MOA) must be drafted to state the purpose and aim of the formation of the trust. Make sure that the goals provided in the MOA are legal.
Draft the Trust Deed
Appoint a legal trustee and sign a formal document known as the trust deed to form the trust. This document consists of all the terms and conditions that are agreed upon between the author, the trustees, and the beneficiaries and this should be handed over to the registrar when the same is being registered.
Submission to the Registrar
File and sign the drafted trust deed and other necessary documents to the registrar. This process will entail the involvement of the author, and trustees together with the beneficiaries.
Review by the Registrar
The trust will be registered if the registrar approves its formation after the submitted documents have been examined and deemed to be valid and compliant.
Certificate of Trust Registration
Upon the approval of the registration, the registrar will then provide the trust with a trust registration certificate. Both the trustees and the trustor should retain this certificate. After this, since the trust is now a registered one, it is in a position to open an account in the bank of its choice.
Why Choose Actax India for Trust Registration in Bangalore?
Unparalleled Expertise
The blended team of legal and tax consultants has years of experience in the registration of trusts.
Streamlined Efficiency
We take care of the details, meaning – you get to have a smooth and easy registration process.
Cost-Transparency
Our payment schedule is equitable and straightforward forward – so you do not have to worry about inflated costs.
Unwavering Partnership
Rest assured, we are with you all the way – from the initial consultation through to completion and beyond.
FAQs
Do I need any legal help to register a trust?
What are the eligibility requirements for registering a trust?
How long does the trust registration process typically take?
What are my ongoing responsibilities after registering a trust?
What are the different parties involved in a trust?
1. Grantor/Settlor/Trustor: This is the person who generates the trust and puts his/her assets into it. They, in a way, initiate the trust in the first place.
2. Trustee: In general, it is helpful to envisage the trustee as the ‘manager’ of the trust. The Board of Trustees is charged with the governance of the trust and the management of the funds through investment and the appropriate distribution thereof in terms of the “Trust Deed” which is a legal document that defines the function of the trust.
3. Beneficiary: This is the person or entity that will benefit from the trust at the end of the day or the end of the term given. They are paid an income or an interest in assets stated in the trust deed.
4. Protector (Optional): At times, there is an accompanying protector whose role is to monitor or supervise the actions of the trustee. The protector makes sure that the trustee performs his duties by the provisions of the trust deed and in the best interest of the beneficiaries.
What are the different types of trusts?
1. Revocable Trust: This trust provides flexibility. This trust can be altered or canceled by the grantor while the grantor is alive.
2. Irrevocable Trust: An irrevocable trust, by definition, cannot be altered by the grantor at any point once it is set up. This may lead to less tax and more protection, yet this needs more investment
3. Testamentary Trust: This type of trust arises from a will, and it comes into operation when the grantor dies.
4. Charitable Trust: Intended for the use or support of a public charity or a particular charitable purpose or use.
5. Support Trust: Offers cash to a beneficiary under certain guidelines on how the cash is to be used. This can help in avoiding situations whereby the money is used unwisely.
6. Special Needs Trust: Designed for use by a disabled individual for his or her own benefit but not in a way that prejudices his or her right to public assistance.
7. Living Trust: Distinguished from a will, a living trust can also help the grantor bypass probate if it is set up while the grantor is alive. Contact Actax India to select the right trust type for you!
