trust lawREGISTRATION OF A TRUST IN KENYA

INTRODUCTION

 

A trust is a fiduciary relationship where a settlor (person setting up the trust) gives another party, known as the trustee, the right to hold title to property or assets for the benefit of a third party commonly referred to as beneficiaries.

Following the enactment of the Statute Law (Miscellaneous Amendment) Act, 2024 which came into force on 24th April 2024 amended various Acts of the Trustee (Perpetual Succession) Act which transferred registration of trusts from the Ministry of lands to the Business Registration Service(BRS).

Effective 22/05/2024 ,BRS took over responsibility of trust registration, issuance of certificate of incorporation, maintaining trust registers and creation of regulations affecting trust operations in Kenya.

REQUIREMENTS FOR INCORPORATION OF A TRUST

 

The following information is required for the incorporation of a trust;

1. Proposed name which must have the word ‘Registered Trustees’ at the end;

2. Objects or purpose of the trust;

3. A duly completed application for incorporation in the prescribed form;

4. A Petition to have the trust incorporated and commissioned by a commissioner for oaths

5. Duly Registered trust deed (registered under RDA with the Ministry of lands) or constitution;

6. Statement of donor funding/commitment;

7. Title deed belonging to the trust or one of the trustees or other documents of property ownership;

8. Current search indicating ownership position of assets listed;

9. Financial statement of the organization or of one trustee such as a current bank statement;

10. Minutes appointing the Trustees;

11. Brief Summary of the Trust (should not exceed 1 Page);

12. Curriculum vitae of the trustees or employees;

13. Diagrammatic representation of the common seal;

14. Certified copies of ID, KRA Pin & passport photos of the Settlor, Trustees and beneficiaries.

NEED ANY LEGAL INQUIRIES?

 

Ruth Rotich & Company Advocates are legal experts on matters pertaining to Company and Trust law. We don’t hesitate to provide quality and tested legal services and consult.

We will be more than glad to receive your feedback and input to offer excellent services to your satisfaction.