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ARTICLE · 22 JULY 2012

Guiding You Through VISTA Trusts

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The use of the trust to cater for the succession of shares in companies has historically been impeded by the ‘prudent man of business rule’1 designed to help preserve the value of trust investments.

British Virgin IslandsWealth Management
Withers LLP
Withers LLP
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The Virgin Islands Special Trusts Act 2003 (the 'Act')

The use of the trust to cater for the succession of shares in companies has historically been impeded by the 'prudent man of business rule'1 designed to help preserve the value of trust investments. This rule has traditionally made the trust an unattractive vehicle to hold assets which the Settlor intends trustees to retain. The rule also requires trustees to monitor and intervene in the affairs of underlying companies.

The Act enables special new trusts (VISTA trusts) which circumvent these difficulties. This guide sets out the key features of VISTA trusts and does not provide definitive advice on the law. You are recommended to seek legal advice on your specific circumstances.

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