Trust establishment and trustee residency conditions require Indian presence, minimum trustees, and approval for company trustees. The fund and the trust must be established in India. The trust must have at least two trustees, and a company within the meaning of section 2(20) of the Companies Act, 2013 cannot be appointed as a trustee without the prior approval of the approving authority. The trustees of the fund must be residents in India, and any trustee who leaves India permanently vacates office.