Trusts
The Trust Money Protection Act 34 of 1934 regulates the administration of trust moneys in Namibia and came into operation in Namibia on 20 June 1975. Various aspects relating to trust are still regulated by the Common law e.g. duties of trustees.
The first trust was registered in 1977 in the Master’s office, Windhoek.
There are two types of trust:
•    An inter-vivos trust created between living persons:
•    Testamentary trust derives from a valid will of a deceased.
A trust is a structure to which property is transferred by the founder or third party to beneficiaries nominated in a trust deed. The trust property is administered by trustees appointed in the trust deed or will for the benefit of one or more beneficiaries. The trustees are thus not the owners of the trust property, they simply manage the affairs of the trust for the benefit of the nominated beneficiaries.
Trusts are mostly used for the purposes of:
•    Estate planning
•    Business activities
•    Charity
Trusts are subjects to an annual audit and must comply with the certain provisions in the Financial Intelligence Act 13 of 2012 and the regulations thereto.
Section 1(c) of the Income Tax Amendment Act 5 of 2007 includes a trust in the definition of a ‘person’ for purposes of income tax.
Contact Details
Windhoek
Postal address :
Master of the High Court
Private Bag 13190
Windhoek
Tel No : 061-2921111
Fax No : 061-236802

Oshakati
Postal address :
Master of the High Court
Private Bag 5563
Oshakati
Tel No : 065-2236700
Fax No : 065-220048