Can an NRI be the sole trustee of an Indian private trust?
New Delhi, Aug. 18 -- Can my NRI son be appointed as trustee of my Indian private family trust, and can he be the sole trustee?- Name withheld on request
-Name withheld on request
There is no express prohibition under the Indian Trusts Act, 1882, on appointing a non-resident Indian as a trustee of an Indian private trust. However, the appointment should be structured carefully, in the context of the rights available to beneficiaries under the Indian Trusts Act, 1882.
Section 60 of the Act gives beneficiaries the right to have the trust property protected, safeguarded and administered by "proper persons". The provision indicates that persons residing permanently outside India or domiciled abroad may ordinarily not be regarded as proper ...
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