ARTICLE · 09 JUNE 2013

New Amendments Keep BVI Trusts At Cutting Edge

Harneys

New legislation has been recently enacted to further refine the trust legislation, especially the use of Private Trust Companies 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.

British Virgin IslandsCorporate/Commercial Law

Henry Mander

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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.

The Trustee Act

Trust Periods - The maximum perpetuity period has been increased from 100 years to 360 years, which apples to new trusts established after 15 May 2013.

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New Amendments Keep BVI Trusts At Cutting Edge

The Trustee Act

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