Trust Registration in Sikkim

Trust Registration in Sikkim - An Overview

A trust is a legal entity that is created by a settlor who transfers assets to trustees to be held and managed for the benefit of beneficiaries. Trusts can be used for various purposes, such as charitable giving, religious purposes, or to provide for the care of family members. The process of trust registration in Sikkim is governed by the Sikkim Public Trusts Act, 1960. The trust deed must be drafted and submitted to the authorities. Our team can provide a complete solution for easy registration of your trust.

Benefits of Trust Registration in Sikkim

• Legally Binding

  Once a trust is registered in Sikkim, the trust deed becomes a legally binding document. It outlines the objectives, rules, and regulations of the trust. It also provides a framework for its operations and ensures compliance with legal requirements.

• Enhanced Credibility

  Trust registration enhances the credibility and reputation of the organisation. Being a registered entity demonstrates transparency, accountability, and adherence to legal obligations. It can attract beneficiaries, supporters, and volunteers.

• Property Ownership

  A registered trust can hold and manage properties in its own name. This allows the trust to acquire, transfer, or sell assets for the fulfilment of its objectives. It also provides stability and continuity in its operations

• Governing Framework

  Trust registration in Sikkim establishes a governing framework for the trust's operations. It sets out the roles and responsibilities of trustees and the decision-making process. It ensures effective governance and management of the trust's affairs.

Documents Required for Trust Registration in Sikkim

• Trust deed
• Identity proof of trustees
• Address proof of trustees
• PAN cards of trustees
• Passport-sized photographs of trustees
• No objection certificate from the property owner (if applicable)
• Proof of the registered office address
• Self-attested copy of the trust deed.

Eligibility Criteria for Trust Registration in Sikkim

• The applicant must be competent to contract
• The applicant must have a genuine and lawful purpose for forming a trust
• The trust's objectives should be charitable or for the benefit of the public
• The trust must have at least two trustees
• The trustees must be individuals, not minors, and of sound mind
• The trustees must not have been disqualified under the Indian Trusts Act of 1882 or any other law
• The trust should not be formed for illegal purposes or against public policy
• The trust should not be established for the benefit of specific individuals or groups, except in cases of educational or religious trusts.

Checklist for Trust Registration in Sikkim

• Define the objectives and purposes of the trust clearly
• Prepare a trust deed including all essential clauses and provisions
• Execute the trust deed by signing it in the presence of witnesses
• Gather identity proof, address proof, and PAN cards of all trustees
• Obtain passport-sized photographs of all trustees
• Obtain a no objection certificate (NOC) from the property owner (if applicable)
• Collect proof of the registered office address
• Prepare self-attested copies of all relevant documents
• Pay the required registration fee
• Submit the application for trust registration along with the necessary documents to the concerned authority in Sikkim.

Process for Trust Registration in Sikkim

The process of process of trust registration in Sikkim is as follows:

• Step 1: Consultation and Document Collection

  Get expert consultation to understand your requirements. Avail help in choosing a unique trust name and the details of the trust you want to register. Submit the required documents for registration.

• Step 2: Trust Deed Drafting

  Vakilsearch's legal experts would draft the trust deed according to your specifications. We ensure it complies with the Indian Trusts Act and relevant state laws. We will tailor the trust deed to reflect your intentions and objectives.

• Step 3: Submit the Application

  With the trust deed and documents in hand, our team will file for registration. We make sure that all the information is accurate

• Step 4: Follow-Up and Verification

  Our team will address any queries or requirements arising during the process.

• Step 5: Registration and Documentation

  Post approval you will get a registration certificate from the Sub-Registrar's office. On request, we might also assist you in obtaining a PAN and open a bank account for the trust

Why Vakilsearch?

Vakilsearch emerged as the preferred option for Trust Registration in Sikkim. We provide unparalleled proficiency and simplified procedures. With a record in delivering legal and regulatory services, Vakilsearch offers tailored solutions. Our professionals possess the nuances involved in trust registration. We also prioritise client ease and legal adherence.

Opting for Vakilsearch empowers individuals and entities in Sikkim to navigate the intricate domain of trust registration. You can leverage a dependable partner committed to ensuring a smooth and effective registration process.