In addition to being the world’s leading international finance centre in which to setup companies, the BVI is now regarded as the premier jurisdictions for trusts. The BVI’s resourceful pool of trust experts provide unique solutions and practical advice on ownership and succession planning based on decades of specialization and experience. The strength and diversity of our experts mean we can also help avoid or resolve disputes, should the need arise. Where problems do arise, the BVI benefits from the Supreme Court of the Eastern Caribbean (with final appeals to the Privy Council in London) and the International Arbitration Centre. Indeed, leading Caribbean and English QCs frequently appear in BVI cases before the specialist Commercial Court which has its headquarters in the BVI.

For private clients, family businesses, charities, or trustees, the BVI can provides expert advice to help our partners make the best choices. Our range of services includes:

  • Establishment and administration of private and commercial trusts
  • Provision of trustee services
  • Services to charities
  • Expert legal advice
  • Preparation of trust accounts
  • Establishment of Private Trust Companies
  • Wills and the administration of estates
  • Trust and estate litigation

The general principles of BVI trust law are derived from those of English trust law. The principles of both English common law and equity, as supplemented by BVI statute, are applicable. The BVI is a sophisticated jurisdiction in which to establish a trust, supported by cutting edge and client-friendly legislation, well qualified service providers, and a robust yet business-friendly regulatory regime./p>

THE BVI TRUST ADVANTAGE

The BVI is a sophisticated jurisdiction in which to establish a trust, supported by cutting edge and client-friendly legislation, well qualified service providers, and a robust yet business-friendly regulatory regime.

Such legislation includes:

  • The Virgin Islands Special Trusts Act (“VISTA”), which has received positive acclaim globally and described by trust and estate practitioners as a ground-breaking development in the area of trusts
  • The BVI Business Companies Act, crafted with the changing needs and requirements of the international business community in mind
  • The Private Trust Company regulations, which provide a flexible and highly attractive regime for the establishment of BVI companies acting as trustees or protectors of a single trust or a number of related trusts
  • The Trustee Act (as amended in 1993, 2003 and 2013). which includes sophisticated provisions drafted with the assistance of Dicey, Morris & Collins editor Professor Jonathan Harris, QC, to include:
    1. conflict of laws and aimed at preventing forced heirship and related claims from being brought against BVI trusts and their trustees
    2. wide exemptions from taxation and from public filing requirements
    3. enabling settlor-controlled and non-charitable purpose trusts to be created
    4. extending the perpetuity period of new BVI beneficiary trusts to up to 360 years
    5. facilitating commercial transactions entered into by trustees
    6. assisting with applications to the court for variation and recognising the role of protectors

USES OF BVI TRUSTS

  • Will substitutes and avoidance of probate
  • Planning for vulnerable relatives
  • Tax planning
  • Family succession planning
  • Testamentary freedom for those subject to forced heirship principles
  • Charitable and non-charitable purposes
  • Asset protection

WHY BVI FOR TRUSTS

  • The BVI’s UK-based trust law has an advantage over jurisdictions without UK-based law
  • Unique products give the BVI an advantage over competing jurisdictions with UK-based laws
  • Low operating costs - the BVI is often less expensive than other UK-based law jurisdictions. It is often advantageous to have the trust and the underlying entity governed by the same law; given the success of BVI companies, that sits well with BVI trusts Flexible and innovative legislation. Well-established trust industry with access to high level professionals qualified in law, accountancy and trust and estate planning