Who are the beneficial owners of a trust?
In terms of the Trust Property Control Act (TCPA) 57 of 1988 a beneficial owner is a natural person who directly or indirectly owns the relevant trust property, benefits from the trust property, or exercises effective control of the administration of the trust.
The beneficial owners of a trust will be the:
Founder(s) of the trust,
Each trustee of the trust,
Each beneficiary of the trust referred to by name.
Please note: Beneficiaries that are not named cannot be declared, for example, "All my future children". Once those children are born and named, they'll need to be declared.
The beneficial owners of a trust will be the:
Founder(s) of the trust,
Each trustee of the trust,
Each beneficiary of the trust referred to by name.
Please note: Beneficiaries that are not named cannot be declared, for example, "All my future children". Once those children are born and named, they'll need to be declared.
Updated on: 02/09/2024
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