Can a foreigner be a trustee in Kenya?

Who can be a trustee in Kenya?

Section 3 (1) of the Act provides that the trustees who have been appointed by any body or association established for any religious, educational, literary, scientific, social, athletic or charitable purpose or who have constituted themselves for any such purpose may apply in the manner provided for in the Act, for a …

Can foreigners own real estate in Kenya?

The simple answer is yes, non-citizens can own property in Kenya and enjoy all legal rights and protections that Kenyan citizens enjoy, however they are subject to restrictions with regard to the kind of tenure they can hold in land and are also prevented from owning or dealing with agricultural land.

How do I start a trust in Kenya?

Trusts are created through a written document (this can either be a settlement document or a declaration of trust) which sets out the duties and powers of a Trustee. Trusts in Kenya are created under the Trustees Act or the Trustees (Perpetual Succession) Act (Cap. 164 of the Laws of Kenya) (Act).

Are trusts taxed in Kenya?

In addition, an adequate support system is required for persons looking to establish Trusts. … In conclusion, it is important to note that Trusts are liable for taxes under the current tax regime in Kenya unless expressly exempted.

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Who may be appointed as a trustee?

10(1) Trustee Act 1893 and s. 24(1) Trustee Law, a new trustee may be appointed in the following order: By persons nominated in the trust instrument. This power of appointment may be all encompassing or limited to the occurrence of special circumstances.

How can a foreigner become a Kenyan citizen?

A person who has been lawfully resident in Kenya for a continuous period of at least seven years, and who satisfies the conditions prescribed by an Act of Parliament, may apply to be registered as a citizen.

Can a foreigner get a mortgage in Kenya?

Expats in Kenyan are allowed to access mortgages from banks after the lenders carry out due diligence to avoid risks. In addition, foreigners investing in the country are required to present valid identification documents to the financier including a letter from the employer.

Can a foreigner own land?

Buying Land as a Non-U.S. Citizen

Anyone may buy and own property in the United States, regardless of citizenship. There are no laws or restrictions that prevent any individual of any foreign citizenship from purchasing or owning property in the U.S.

What Trusts can be formed in Kenya?

There are four broad examples of trusts as highlighted herein below:

  • Pension Trusts e.g provident funds and pension funds.
  • Investment Trusts e.g. Unit Trusts, Real Estate Investment Trusts, Oil and Gas Royalty Trusts;

Where can I register a trust in Kenya?

Registration under the Registry of Documents Act;

The trustees can commence implementing the objects of the trust as a simple trust i.e. a duly executed trust deed once registration has been finalized at the Registry of Documents at Ardhi House.

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Are trusts legal?

Under California law, a trust may be created for any purpose that is not illegal or against public policy. A trust created for an indefinite or general purpose is not invalid for that reason if it can be determined with reasonable certainty that a particular use of the trust property comes within that purpose.