Trust in which nri is settler

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2012 Dear All,
An NRI holding Indian passport wish to become settler of a charitable trust. is this fall under FCRA and what are the governing provisions under FCRA, if it falls under the said Act and Indian Trust Act also whether such trust will get into any difficulties at the time of registration of trust deed.

Kindly suggest in this regard.
Your contribution will be highly appreciated
Regards
Raju Balodi

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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22 January 2012 For the registration of trust deed the local laws shall prevail, and you need to check whether they prohibit an NRI as settler.

However the FCRA Act objects to appointment of foreigners as trustee.I feel that there should be no issue as regards NRI.

Anuj