Eligibility of the Settlor

• Any person competent to contract under the Indian Contract Act, 1872 can create a trust.
  
• Must be a major, of sound mind, and not disqualified by law from entering into a legal contract.
  
• Both individuals and legal entities such as companies, societies, and associations can act as settlors.

Joint Settlors

• A trust may also be created by two or more persons jointly.
  
• Each settlor must fulfill the eligibility criteria and express a clear intent to form the trust collectively.

Minors and Incapacitated Persons

• Minors or persons of unsound mind cannot create a trust independently.
  
• However, a guardian or legal representative may do so on their behalf with approval from a competent court.

Non-Resident Indians and Foreigners

• NRIs and foreign nationals can also create a trust in India, subject to compliance with FEMA regulations and RBI guidelines.
  
• Necessary declarations and documents must be submitted to the relevant authorities.

Corporate Bodies and Institutions

• Registered companies, charitable organizations, and public institutions may create a trust to fulfill specific CSR, social, or charitable objectives.
  
• Resolutions from the board or governing body are required to formalize the decision.