Death and taxes, despite our best laid plans, are still with us. While trying to legally reduce your tax liability has become politically unacceptable and unfortunately, there is still not much we can do about death, there are however many options that you should consider in order to properly deal with your assets when you are no longer here. As uncomfortable as this may be everyone who owns shares in a British Virgin Islands (BVI) company should consider what they want to happen to those shares when they are no longer around or if they become unable to look after matters for themselves.
This is particularly important as many BVI companies have individual shareholders and more often than not, there is only a single shareholder. We should plan while time is on our side so the gift that we intended to leave for those who come after us does not turn into a burden.
In this article we will take a brief look at succession to shares in a BVI business company held by an individual shareholder and some planning options for the future.
Please see full article below for more information.
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