BVI VISTA trusts—management
Produced in partnership with Alexander Way of Walkers
Practice notesBVI VISTA trusts—management
Produced in partnership with Alexander Way of Walkers
Practice notes
British Virgin Islands (BVI) trusts law is contained in the Trustee Act (as amended) (Cap 303, Laws of BVI) and the Virgin Islands Special Trusts Act 2003 (as amended) (VISTA Law). Trusts established pursuant to the VISTA Law (VISTA Trusts) typically hold Shares (whether directly or indirectly) in a Company engaged actively in some form of business (rather than passive Investment holding) in an industry with which the trustee is not familiar and often in a location geographically remote to the BVI. The ability to deal with these challenging circumstances is what led to the design and enactment of the VISTA Law in the first place and makes VISTA Trusts such a valuable resource in an international wealth structuring context. This Practice Note addresses certain aspects of the management and Administration of VISTA Trusts.
Separation of trust and corporate governance
The VISTA Law recognises that trustees are rarely natural entrepreneurs. On the other hand a settlor of a VISTA Trust may be a highly successful and enterprising businessman who is comfortable ceding ownership of his business to a trustee
Access this content for free with a 7 day trial of LexisNexis and benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 42 practice areas
Get your quote today and take step closer to being able to benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 36 practice areas
Get a LexisNexis quote
* denotes a required field
To view the latest version of this document and thousands of others like it,
sign-in with LexisNexis or register for a free trial.
Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Key definition:
Shares definition
What does Shares mean?
The CA 2006 merely provides that a share is a share in the company's share capital. A company's share capital comprises the number of shares issued by it to investors either on or after incorporation. Those investors then become the shareholders in the company. A shareholder’s shares are their personal property. By contrast, the assets of a company are owned by the company itself. Owning shares does not entitle a shareholder to any property rights in the company's assets.
CONTACT US
