Declaration of Trust
A declaration of trust should also state in light of the contributions made and anticipated contributions such as payment of a mortgage or additional work and the percentage each party owns.
This declaration of trust should also specify details of how the Company expenses will be paid, responsibility for the bank account of the company, signatories, loans, credit from the bank etc. The declaration of trust is accompanied by an agreement between the registered owner of shares (i.e. the nominee) and the beneficiary shareholder that also provide a mechanism for the transfer of shares to their beneficiary owner; in the event of a breakdown in the relationship; or on the death of one party.
If needed, we also provide a Power Of Attorney that empower the beneficiary owner to run the company, open bank accounts, sign contracts etc.
If required, we can, for a small fee, get the Power Of Attorney notarized and apostilled
A declaration of trust is specially required in situation where one party (the nominee) holds the shares for the other party (the beneficiary). Declaration of trust is also needed where there is no special connection between the nominee and the beneficially owner.
Hanner-Ofer - Israeli Law Firm owns an Israeli Trust Company especially in order to hold shares as trustee and nominee shareholder for beneficiary shareholders.
See an example of a Deed of Trust of Hanner Trusteeship Share Holdings Ltd. >