Document background
A Declaration of Trust for Shares is commonly used in the Philippines when there is a need to separate legal and beneficial ownership of corporate shares. This document is particularly relevant in situations involving family wealth management, corporate restructuring, or nominee arrangements. It must comply with the Philippine Civil Code's trust provisions and the Revised Corporation Code's requirements for share transfers and ownership. The declaration typically details the specific shares held in trust, the rights and obligations of both trustee and beneficiary, and the terms governing the trust relationship. It's essential for establishing clear evidence of beneficial ownership and preventing future disputes over share ownership and control. The document is frequently used in conjunction with corporate secretarial documentation and may require registration with relevant authorities depending on the nature of the shares and parties involved.
