NGO
3 years ago
Hi , I need to start an NGO, so wanted to check should i register as Trust or Foundation
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
A trust is not a legal entity by itself, as the trustee will remain the legal owner of the assets but with a fiduciary duty to manage them in the best interest of the beneficiaries. Trusts are more common in common law countries, but similar structures have been created in other countries.
In most jurisdictions, the purpose of the foundation must be of public interest, limiting the possibility to use foundations as a tool to facilitate succession between generations.
A trust is not a legal entity by itself, as the trustee will remain the legal owner of the assets but with a fiduciary duty to manage them in the best interest of the beneficiaries. Trusts are more common in common law countries, but similar structures have been created in other countries.
In most jurisdictions, the purpose of the foundation must be of public interest, limiting the possibility to use foundations as a tool to facilitate succession between generations.
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A.Hi,
Both trust and society alike are two types of a non-profit or non-government organization in India. Therefore if anyone intends on doing social work and for this purpose needs a legal entity, then either a trust or a society can be registered. One can also register a company under section 25 but in most cases, a registered is a norm or society for benevolent work.
Both trust and society alike are two types of a non-profit or non-government organization in India. Therefore if anyone intends on doing social work and for this purpose needs a legal entity, then either a trust or a society can be registered. One can also register a company under section 25 but in most cases, a registered is a norm or society for benevolent work.
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