Is there Zakaat on properties registered in a trust?

Firstly, it should be borne in mind that a trust document is a legal document (which is generally adopted to save tax) but not recognized in Shariah, unless it conforms with the laws of Shariah.

The beneficiaries of a trust are not recognized as the owners of the assets unless the assets were gifted to them (as required in Shariah), or the assets were sold to them. If the beneficiaries qualify as the owners of the assets, then they will not be required to pay Zakaat on the properties, if the properties are for income purposes only. Similarly, if the properties still belong to the owner (or the donor of the trust), as the properties were not sold or gifted to the beneficiaries, then too Zakaat is not payable on the properties if the properties are for income purposes only. Yes, if the income is available when calculating one’s yearly Zakaat, then Zakaat will be payable (by the owner/s) on such income. In conclusion, Zakaat is not payable on trust properties that are for income purposes only.