New Trust legislation in the BVI has broadened the range of
trust options available to private clients and enhanced BVI trust
legislation by making some welcome modifications that increase the
attractiveness of BVI trusts as part of international wealth
planning and financial structures.
The British Virgin Islands are already a well-respected trust
jurisdiction - mainly because BVI trust law is derived from English
trust law, and further supplemented by statute to offer a variety
of flexible and user-friendly trust structuring options to
sophisticated private clients.
The latest legislation came into effect in May 2013 to refine
further the trust offering in the BVI, especially the use of
Private Trust Companies ("PTCs") and VISTA trusts. The
latest changes should help to ensure the BVI remains at the
forefront of international trust planning and a jurisdiction of
choice for high net worth and ultra high net worth families from
around the globe.
