Trustees may act in General or Financial Trusts, subject to compliance with the  requirements contained in the regulations. The trust is governed by the provisions of Act No. 17.703.

A trust is a legal relationship in which one party, known as a trustor gives another party, the trustee the right to hold title to property or assets for the benefit of a third party, the beneficiary which is appointed therein, and returns it to the trustor at due date or condition  or transmits it to the beneficiary.
 

Trustees that participate in General Trusts are called General Trustees.
In the case of General Trustees, the designation of professional is valid when:

a. they have proven participation in five or more Trusts in any calendar year, in accordance with the provisions of Article 3 of Decree 516/003 of 11/12/2003;
b.  the Trust is a financial intermediary institution, which may only act as a Trustee in a regular and professional manner, according to the provisions of Article 11 of Act No. 17.703.

The designation of professional makes it mandatory for the Trustee to be listed in the  Register of Professional Trustees. However, Trustees who do not meet the conditions for the designation of professional as mentioned above, may also be listed voluntarily in the Register.

A Financial Trust is when the beneficiaries are holders of trust share certificates, of  debt securities backed by trust assets, or mixed securities that grant credit rights and participation rights on the remainder. Financial Trust Trustees can only be financial intermediation institutions or investment fund management companies.
 

See requirements for registration in the Register of Financial Trusts (Art. 107 et seq RNMV). 

Financial Trustees are institutions authorized to act as trustees in financial trusts under the provisions of Article 26 of Act No. 17.703 of 27/10/2003 and its regulations.
Financial Trustees have the designation of profesionals from the moment they start to develop the first Trust.
 

Trustees (those that are not Banks, Investment Banks, Financial Institutions, External Financial Institutions or Cooperatives) do not require prior authorization to operate but require to be listed in the Register.
 

See requirements for registration in the Register of Trustees (General Trusts - Art. 101 et seq RNMV - Financial Trusts - Art. 104 et seq RNMV.).

See List of Financial and General Trusts included in the Register of the Superintendency of Financial Services.