Creation of Trust , Society & NGOs
Are you want to create a Trust, Society or NGO, consult our leading Consultant P V Raja Rajeswaran. Creating trusts, societies, and non-governmental organizations (NGOs) involves establishing legal entities with specific purposes and objectives, often related to charitable, educational, social, or philanthropic activities. Each of these entities has its own set of characteristics, legal requirements, and purposes.
Creation of Trust
To create a trust, a settlor (the person establishing the trust) transfers assets to a trustee (an individual or entity) who holds and manages those assets for the benefit of the beneficiaries. A trust deed or agreement outlines the terms and conditions of the trust. Trusts may need to be registered with relevant authorities, depending on local laws and regulations. In some cases, registration may not be required for certain types of trusts.
Creation of Society
To create a society, a group of individuals interested in a common cause (members) must draft a memorandum of association and rules and regulations that define the objectives, structure, and governance of the society. Societies typically need to be registered with the relevant government authority or registrar of societies. The registration process may vary by jurisdiction.
Creation of NGOs
Creating an NGO involves defining its mission, structure, and governance. Founders often draft articles of association or bylaws to formalize the organization's structure and objectives. NGOs may need to register with government authorities or relevant regulatory bodies to obtain legal recognition and tax benefits. The registration requirements vary by country.