Changes to BVI Trust Legislation – Fine-tuning the Law to Promote Flexibility

The British Virgin Islands is a well respected and sophisticated jurisdiction for the establishment of trusts. The general principles of BVI trust law are derived from those of English law and they have been supplemented by statute to offer a variety of flexible and user-friendly trust structuring options.

New legislation has been enacted in May 2013 to further refine the trust legislation, especially the use of Private Trust Companies ("PTCs") and VISTA trusts, which will help to ensure that BVI remains at the cutting edge of international trust planning and a jurisdiction of choice for high net worth families from around the globe.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  BVI Business Companies, High Net-Worth, Private Trust Companies, Trustees, Trusts, VISTAs

Published In: Finance & Banking Updates, International Trade Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Harney Westwood & Riegels | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »