There are many forms of trust that can be established in different situations. In general, however, trusts can be divided into two main groups:

Advantageous Trusts
Target Trusts

Beneficial trust
A trust whose beneficiaries are explicitly specified or which has a limited set of beneficiaries.

Target trust
A trust created to achieve a specific purpose. There are two sub-types: non-profit or private (non-profit) used for asset protection purposes.

Trust management
A trust is an arrangement whereby one person (a trustee) agrees to look after certain property (the trustee's property or the property of others) for the benefit of another person. The founder of a trust (the settlor) is the owner of the asset. When the founder forms a trust, he or she loses all legal ownership of those assets. The same person can be a beneficiary and a founder of the trust at the same time.

Trust registration
Trust registration procedures vary between jurisdictions, but generally differ in one key feature: registering a trust does not simply mean registering a company, as the company must be licensed to operate as a trust. In other words, a company must first register as a company and then apply for a trust license.

Normally, when the company is first registered, there are no additional restrictions and the company is registered like any other. The required documents are the same: the articles of incorporation, the memorandum, information on the owners and shareholders, etc.

To apply for a trustee license, the registered company must provide some additional information. For example, many jurisdictions require proof of qualifications and/or other documents supporting the claim that the entity is capable of providing trust services. Some jurisdictions also require a certain minimum share capital. There are also additional ownership and management rules: in general, trusts must have more directors and/or other officers than a standard corporation in the same jurisdiction.