Question
How do I set up a Trust and Corporate Trustee?
Answer
If the Company is not yet established, this needs to be done first.
Step 1: From the Create Documents page under "Company Formations", select the "Standard Company" form:
Step 2: On page two of the form, select "Yes" to "Do you want to create a Trust as well?":
Step 3: If you would like to open a bank account for the Trust, select "Yes" to the question "Add resolution to open a bank account?":
Step 4: Select the Trust Type:
Step 5: Enter the Trust name:
Step 6: Complete the rest of the company registration form and submit to ASIC
Step 7: Once the company has been registered, to continue with the Trust establishment, go to the "Completed Documents" page.
Open the company registration and under the Integrations section, select the "Create Trust":
Step 8: Complete the Trust Establishment form:
Note: If the Trust was created prior to the Company being registered, this means the trustee via the Trust would have been set up as either individual or corporate trustee. If a change of trustee is required to update to corporate trustee, once the corporate trustee is registered, a Change of Trustee document can be completed. For specific advice, the Technical Compliance Team can be contacted via legal@nowinifnity.com.au
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