The formation of a trust generally takes 15-20 days time from the date of filing of the application. The plus point in a trust is that only 3 members are required for formation and moreover even members of a family can be involved in a trust. There are many charitable trusts in India working for the upliftment of downtrodden and poor people.
Trust registration comes under Indian Trust 1882. The maximum number of members in a trust can go upto 21. The general posts in a trust are President, Vice-President, Secretary, Treasurer etc. For national level trust registration, it is mandatory that the concerned person should have one address proof of Delhi like electricity bill or property paper. The area should be authorized as well. Unauthorized areas are invalid. If the house is rented, then in that case, the person is supposed to take NOC from landlord. The settler member should belong from Delhi and the settler must have Aadhar card. Nowadays, Aadhar card is a very important entity for every individual and in most of the sub-registrar offices, absence of Aadhar card creates a lot of problems in official work. Further, while registration of trust, two witnesses of Delhi are essential who should have Aadhar card. Self attested address proofs of all the members of the trust like voter id card, passport, Aadhar card along with 2 photographs of each of the members are the required documents. It is really advantageous to go for registration of trust as the basic formalities are very simple, only 3 members and within time frame of 15-20 days, the formation can be done.
As far as funding is concerned, both the non-government organizations whether trust or society can apply for funding or grant from corporate or government or abroad. Society and trust both get grants from these sources. A trust is supposed to conduct for four general body meetings in every year or you can say one in every 3 months. There should be proper maintenance of minutes book, cash receipts, ledger books etc. in the office. These records are essential because if the Chief Functionary applies for FCRA registration or prior permission in future, the IB team who come from Ministry of Home Affairs check all these records and thereafter they send verification report. There can be more branches of trust. If the registered office address is Delhi, the trust can open several branches in many parts of India since the area of operation would be entire India.
Contact Estate Registration for more details!