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New Private Trust in New Zealand
Is it possible to set up a private (Native) trust and to have vested into the trust 10 acres of native allodial land, a home and vehicle. I would be the sole beneficiary of the Trust and have exclusive use of all the property in the trust. I am the sole owner of these assets currently. There is no monies owed on all property assets.
Can I use the same trust structure as a Sole trader and contract my services to interested government entities?
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1 Reply
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If you set up a trust there needs to be at least three parties to the trust and they can’t be the same person or the same role otherwise it’s not a trust it is just ownership. You are holding something in trust for the benefit of another so you no longer own the property but you can control it until the day you die if the trust is written in that way.