1. What is a trust deed?
A trust agreement for company shares is a document that governs the relationship between the owner of company shares and the trustee who is appointed to temporarily manage those shares. Such an agreement allows the owner of shares to place them in the hands of a trustee who can manage them on the owner's behalf.
2. What are the purposes of concluding a trust agreement?
Entrusting company shares to a trustee may have various purposes, e.g. securing the owner's interests in the event of disputes between them and other company partners, enabling the owner of shares to focus on other matters while maintaining control over their shares, or when a specific person, for various reasons, does not want to be formally listed as a shareholder in a given company (does not want to appear in the files of the National Court Register) or when they do not want to be known as the acquirer of share rights.
3. What should a trust agreement include?
The trust agreement for company shares should specify, among other things:
- the subject of the contract – i.e. what scope of shares is entrusted to the trustee,
- the purpose of the agreement – i.e. what is the purpose of entrusting the company shares to a trustee,
- duration of the contract – i.e. how long the control over the shares is entrusted to the trustee,
- the principles of trustee remuneration – i.e. what financial conditions will be established for the trustee,
- the rules for making decisions on behalf of the share owner – i.e. what decisions can the trustee make on behalf of the share owner.
A trust agreement for company shares must be in writing and signed by both parties. It is worth remembering that the trustee is obligated to maintain trade secrets and to look after the interests of the owner of the shares, in accordance with the provisions of the trust agreement. The agreement should be prepared by a legal advisor so as to provide maximum protection for both parties to the agreement.
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