Section 320: Transfer of property for incorporation of trust

1) The trust founder shall transfer of property settled for the trust to the trustee within a period of three months of the establishment of the trust.

2) If the property to be transferred pursuant to sub-section (1) is an immovable property, such a property shall be deemed to have been duly transferred only when it is transferred in accordance with law.

3) A foreign person that establishes a trust in Nepal shall remit into Nepal a movable property equivalent to at least one million United States Dollars through regular banking channel and hand over the same to the trustee within a period of three months.

4) The information of the hand-over of the movable property pursuant to sub-section (3) shall be given to the Registrar.