BVI trusts—jurisdictional background and legal framework
Produced in partnership with Mourant Ozannes
BVI trusts—jurisdictional background and legal framework

The following Private Client guidance note Produced in partnership with Mourant Ozannes provides comprehensive and up to date legal information covering:

  • BVI trusts—jurisdictional background and legal framework
  • Geography
  • Government
  • Judicial system
  • Professionals
  • Financial services
  • Banks
  • Funds
  • Insurance
  • Trusts
  • more

This Practice Note provides an introduction to the British Virgin Islands (BVI) in the context of offshore trusts.

For general information about the BVI, see Practice Note: Private Client jurisdictional guide—British Virgin Islands.

Geography

The BVI is located to the east of Puerto Rico in the Virgin Islands archipelago known as the Leeward Islands and consist of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, together with over fifty other smaller islands. The North Atlantic Ocean is to the north and the Caribbean Sea is to the south of the BVI. Road Town is the capital of the BVI and is situated on Tortola at the centre of the financial services industry.

Government

Ultimate executive authority in the BVI is vested in Queen Elizabeth II. A resident Governor is appointed by the Queen on the advice of the government of the UK and exercises constitutional powers on her behalf.

The BVI has its own constitution, the Virgin Islands Constitution Order 2007. Parliamentary elections are held approximately every four years. The head of government (known as the Premier) under the constitution is elected by popular vote in a general election along with the other members of parliament to create a government and opposition.

The BVI is divided into