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ARTICLE · 03 DECEMBER 2024

British Virgin Islands: Special Purpose Vehicles For Luxury Assets

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For family offices, high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) considering the purchase of luxury assets (in particular yachts...

European UnionWealth Management
Oliver Cross
Oliver Cross
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For family offices, high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) considering the purchase of luxury assets (in particular yachts, artworks and aircraft) there are multiple factors to consider, not least deciding on the optimum structure to purchase and hold such luxury assets.

When purchasing a luxury asset, one of the first considerations should be the structure through which such luxury asset will be purchased and subsequently held. One of the most popular choices is to hold the luxury asset through a British Virgin Islands (BVI) Special Purpose Vehicle (SPV).

What are SPVs and Why Use Them?

SPVs are a corporate structure (typically a BVI business company) commonly set up for the exclusive purpose of purchasing and holding a luxury asset, and they tend to (depending on the exact SPV structure used) provide for a combination of some or all of the following benefits:

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