Since 2007, it has been possible in BVI to establish a Private Trust Company (“PTC”) which may act as trustee of trusts without the need to obtain a BVI trust licence as long as certain conditions are satisfied.
BVI PTCs have become very popular, especially among High-Net-Worth families and clients from civil law jurisdictions who do not necessarily welcome the prospect of transferring their wealth to an independent third party trustee when establishing a trust.
In May 2013, the BVI trust legislation was amended to allow PTCs to be trustees of VISTA trusts (see separate guide on VISTA trusts) and Purpose Trusts (see separate guide on BVI Trusts – An Overview). It is anticipated that this additional flexibility in the use of PTCs will further enhance their effectiveness as sophisticated vehicles, which can be used in both private wealth planning and commercial structures.
Please see full guide below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.