Foreign Business Trust
As there is no provision in Vermont Statutes for business trusts, our guidance is to choose 1 of the business filing types provided in statute, even though none of which is a perfect fit, to register your business trust:
- Trade Name (DBA) can be difficult for Trusts as each owner(trustee) listed must be an individual or a business entity (Corp., Nonprofit, LLC, LLP, LP or MBE) registered with this office. Trade name is especially difficult for N.A. owner(s)(trustee(s)) as they otherwise not required register with this office to do business in Vermont, and to do so must choose a corporate identifier, “Inc.,” Corp.,” “Ltd.,” or “Co.” to add to their business name for use in Vermont.
- General Partnership can be difficult for trusts as there must be at least 2 partners (trustees) listed. On the up side, unlike Trade Name (DBA), there is no registration requirement for entities that are listed as partners.
- Foreign LLC, MBE, LLP, or LP can be difficult as the Trust would need to add for use in this State an entity identifier as applicable, eg. “LLC,” “MBE,” “LLP” or “LP.” Although, like general partnerships, there is no registration requirement for any entity listed as a member/director/partner.
- Foreign Profit Corporation can be difficult as the Trust must add for use in this State a corporate identifier to its business name, i.e. “Corp.,” “Inc.,” “Ltd.” or “Co.” and have at least one individual to listed as a director.
- Foreign Nonprofit Corporation can be difficult as a Trust must add for use in this State a corporate identifier to its business name, i.e. “Corp.,” “Inc.,” “Ltd.” or “Co.” and have at least 3 individuals listed as directors.