Rajat Khanna (Associate) 11 November 2015
Can a NRI establish a charitable trsut in India with the help of foreign investors and how can the foreigners be allowed to get their investment back? I recently met a gentleman and he said he want to establish a charitable trust in India and he has friends who would invest the money but how can the moeny be legally taken into Indian and taken out of India (legally) when the trust in running well.
kavksatyanarayana (subregistrar/supdt.(retired)) 11 November 2015
Author, if any amount invested by anyone in the "charitable trust" that amount should be called as "Corpus Fund" and it will not be refunded. The charitable Trust means it is meant for with good aims/objects for the welfare of public in general/some charitable purpose. so the question of investors does not arise.
advocatepassy@gmail.com 971794 (Advocate) 12 November 2015
The money will not be allowed to be taken out of India. If that is the purpose, it is not a charitable trust but a business activity.
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