Having your cake and eating it – How to retain settlor control in BVI and Cayman trust structures

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The BVI and the Cayman Islands have both been long viewed as attractive and sophisticated jurisdictions for offshore trust and corporate structuring by Asian clients and their professional advisors. The generic flexibility of trusts has come to be appreciated by high net worth individuals and families in the region who, for a variety of reasons, have sought to structure offshore.

On the other hand, however, some features of a classic trust are now considered by some as inherent restrictions and in recent years there has been a growing demand for more innovative and user-friendly trust solutions. The leading offshore jurisdictions, such as BVI and Cayman, have sought to meet this demand via specific legislative amendments to classic trust principles.

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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

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