If you’re considering establishing a trust in Ghana, you’ve come to the right place. In this guide, we’ll walk you through the entire process, ensuring a smooth journey from application to receiving your registration certificate. Let’s dive in!
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How to Register a Trust in Ghana
Follow the steps below to successfully register a trust in Ghana:
1. Approach the Social Welfare Department
To initiate the trust registration process, start by approaching the Social Welfare Department. You can find their contact details here. You wouldn’t want to compromise, would you?
2. Get an Application Form for the Older Person’s Grant
After getting to the social welfare department, secure the application form for the Older Person’s Grant (OPG). This form will serve as the foundation for your trust registration.
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3. Gather Required Documents
Make sure you gather all the necessary documents mentioned in the “Required Documents” section. This includes the trust deed, PAN cards, proof of identity, registered office address proof, and more.
4. Choose a Unique Trust Name
Select an appropriate and unique name for your trust. Ensure it reflects the values and purpose of your trust.
5. Select Settlers/Authors and Trustees
Identify the Settlers/Authors and a minimum of two Trustees. There is no maximum limit for Trustees. Choose individuals dedicated to your trust’s mission.
6. Crafting the Essential Trust Deed
Prepare a detailed Trust Deed, also known as the Memorandum of Association and Rules & Regulations. This legal document is crucial for proving your trust’s legitimacy.
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7. Draft Bylaws of the Trust
Don’t forget to draft the Bylaws of the Trust, outlining the internal rules and regulations governing its operations.
8. Hire a Professional Assistant
Consider hiring professionals experienced in preparing trust deeds. A well-crafted trust deed ensures a smooth journey without legal hiccups in the future.
9. Submission to the Local Registrar
Physically go to the respective area registrar of trusts with all members mentioned in the deed. Ensure everyone is present for filing.
10. Registrar Verifies Your Informtion
The registrar will scrutinize the submitted details. If everything aligns with the guidelines, they will retain photocopies and return the original registration copy of the trust deed.
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After the notification period of 14 days, you’ll receive your registration certificate as per the applicable delivery norms.
Be patient throughout the 14-day processing period. Your perseverance will be rewarded with the official registration certificate for your trust.
Conclusion
Embarking on the journey to register a trust in Ghana may seem daunting, but with this guide, you’re well-equipped to navigate the process seamlessly.
FAQs (Frequently Asked Questions)
What is the minimum age requirement for a Trustee in Ghana?
The minimum age is 18 for females and 19 for males.
Can foreigners become members of a trust in Ghana?
No, only Ghanaian residents are eligible. Foreigners, OCI card holders, and NRIs abroad for more than six months cannot join.
Why is a well-prepared trust deed essential?
A well-prepared trust deed serves as legal evidence of your trust’s existence, preventing future complications.
What happens during the registrar’s verification process?
The registrar checks the submitted details, and if everything is in order, they retain photocopies and return the original registration copy.
How long does the entire registration process take?
The processing time is 14 days, after which you’ll receive your registration certificate.