{"id":278,"date":"2023-04-13T13:43:06","date_gmt":"2023-04-13T13:43:06","guid":{"rendered":"https:\/\/companyformationgeorgia.com\/?p=278"},"modified":"2023-04-13T13:43:09","modified_gmt":"2023-04-13T13:43:09","slug":"set-up-a-trust-in-georgia","status":"publish","type":"post","link":"https:\/\/companyformationgeorgia.com\/set-up-a-trust-in-georgia\/","title":{"rendered":"Set up a Trust in Georgia"},"content":{"rendered":"\n<p>A<strong>\u00a0trust in Georgia<\/strong>\u00a0is established as a\u00a0<strong>fiduciary relation<\/strong>\u00a0between three parties, in which a\u00a0<strong>party grants a trustee<\/strong>\u00a0the right to\u00a0<strong>manage various assets<\/strong>. In order to\u00a0<a href=\"https:\/\/www.companyformationgeorgia.com\/company-act-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>open a company in Georgia<\/strong><\/a>\u00a0set up as a<strong>\u00a0trust<\/strong>, the parties will need to conclude a\u00a0<strong>trust document<\/strong>, generally referred to as a\u00a0<strong>trust deed<\/strong>.\u00a0<strong><a href=\"https:\/\/www.companyformationgeorgia.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Our team of company formation representatives in Georgia<\/a>\u00a0<\/strong>can offer in-depth assistance on the legal requirements for establishing a\u00a0<strong>Georgian trust<\/strong>.\u00a0<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_64 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-trust-in-georgia\/#parties-to-enter-a-trust-in-georgia\" title=\"Parties to enter a trust in Georgia &nbsp;\">Parties to enter a trust in Georgia &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-trust-in-georgia\/#trust-property-in-georgia\" title=\"Trust property in Georgia &nbsp;\">Trust property in Georgia &nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"parties-to-enter-a-trust-in-georgia\"><\/span><strong>Parties to enter a trust in Georgia &nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As mentioned above, the<strong>&nbsp;trust in Georgia<\/strong>&nbsp;has to be established between three parties. The procedure of&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/company-register-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>company formation in Georgia<\/strong><\/a>&nbsp;in this case will include the following:<\/p>\n\n\n\n<p>\u2022 <strong>the grantor<\/strong>&nbsp;\u2013 or the person who wants to&nbsp;<strong>establish the trust<\/strong>;<\/p>\n\n\n\n<p>\u2022<strong> the trustee<\/strong>&nbsp;\u2013 the entity that will have the right to<strong>&nbsp;manage the assets&nbsp;<\/strong>under the respective&nbsp;<strong>trust<\/strong>;<\/p>\n\n\n\n<p>\u2022 <strong>the beneficiary<\/strong>&nbsp;\u2013 the person who is entitled to&nbsp;<strong>obtain benefits&nbsp;<\/strong>from the respective<strong>&nbsp;trust<\/strong>.&nbsp;<\/p>\n\n\n\n<p>It is important to know that the<strong>&nbsp;trustee&nbsp;<\/strong>can be represented by either a natural person or a<strong>&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/companies-types-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">legal entity operating in Georgia<\/a><\/strong>. At the same time, persons who want to&nbsp;<strong>set up a trust<\/strong>&nbsp;should know that the&nbsp;<strong>trust\u2019s assets&nbsp;<\/strong>can be represented by various&nbsp;<strong>types of properties or parts of a property<\/strong>. If the latter option applies, it is necessary to&nbsp;<strong>specify the parts of property&nbsp;<\/strong>that are included in the&nbsp;<strong>trust<\/strong>.&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Our team of company formation agents in Georgia<\/strong><\/a>&nbsp;can provide further assistance on this topic.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"trust-property-in-georgia\"><\/span><strong>Trust property in Georgia &nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The procedure of&nbsp;<strong><a href=\"https:\/\/www.companyformationgeorgia.com\/public-registry-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">company registration in Georgia<\/a>&nbsp;<\/strong>for a&nbsp;<strong>trust<\/strong>&nbsp;stipulates that certain types of properties can be included in this vehicle, as follows:&nbsp;<\/p>\n\n\n\n<p>\u2022 <strong>non-material property<\/strong>;<\/p>\n\n\n\n<p>\u2022 <strong>material&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/purchase-a-property-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">property<\/a><\/strong>, which can be further categorized as&nbsp;<strong>movable or immovable<\/strong>.&nbsp;<\/p>\n\n\n\n<p>The main characteristic of a&nbsp;<strong>tangible property&nbsp;<\/strong>included in a<strong>&nbsp;trust<\/strong>&nbsp;refers to any<strong>&nbsp;type of property<\/strong>&nbsp;which can be passed on from one person to another, with the main purpose of&nbsp;<strong>providing a financial gain for the trust\u2019s owner<\/strong>.&nbsp;<\/p>\n\n\n\n<p>It is important to know that a<strong>&nbsp;Georgian trust&nbsp;<\/strong>is available only during the<strong>&nbsp;lifetime of the trust\u2019s owner<\/strong>&nbsp;and that the&nbsp;<strong>trust relations<\/strong>&nbsp;are to be stopped following the&nbsp;<strong>death of the owner<\/strong>.&nbsp;<\/p>\n\n\n\n<p>Persons interested in&nbsp;<strong>establishing a trust&nbsp;<\/strong>are invited to&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/contact\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>contact our consultants in company registration in Georgia&nbsp;<\/strong><\/a>for more information on the legislation referring to this aspect.&nbsp;<\/p>\n\n\n\n<p>We also invite foreign businessmen to contact us if they want to<strong>&nbsp;set up a company in Georgia&nbsp;<\/strong>(a business designed for commercial purposes). Our team can offer full legal representation in front of the&nbsp;<strong>Georgian authorities<\/strong>.&nbsp;<\/p>\n\n\n\n<p>You can also obtain post-incorporation services, such as tax advice, management strategy, bookkeeping and accounting, reporting, and other services designed for businesses.&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A\u00a0trust in Georgia\u00a0is established as a\u00a0fiduciary relation\u00a0between three parties, in which a\u00a0party grants a trustee\u00a0the right to\u00a0manage various assets. In order to\u00a0open a company in Georgia\u00a0set up as a\u00a0trust, the parties will need to conclude a\u00a0trust document, generally referred to as a\u00a0trust deed.\u00a0Our team of company formation representatives in Georgia\u00a0can offer in-depth assistance on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":161,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[9,11,111,110],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Set up a Trust in Georgia<\/title>\n<meta name=\"description\" content=\"Our team of company formation agents can provide advice on the documents that are to be completed when setting up a trust in Georgia.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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