Filmer commented: “Being granted a Class II Trust Licence by the BVI Financial Services Commission allows us to conduct BVI trust business without limitation. This includes the innovative VISTA Trust which remains attractive to international clients. A short-form revocable VISTA trust precedent has also been developed, the Vistra Succession Trust, which is a very cost-effective way of avoiding probate for shareholders of BVI companies. We have already seen considerable interest for BVI trust services throughout the Group, including from Hong Kong, Singapore and Dubai.”
The introduction of the International Business Companies Act, (‘IBC Act’), in 1984 established the BVI’s reputation as an attractive option for clients wishing to obtain reasonably priced offshore corporate vehicles. The IBC Act was replaced in 2006 by the BVI Business Companies Act, further boosting the popularity of the Territory, as a well regulated jurisdiction with a supportive judicial system based on English Common Law. The BVI is now the most popular jurisdiction for the formation of offshore corporate vehicles, and is home to over 450,000 active corporate entities.
Over the years, the BVI has implemented several innovative pieces of legislation, much of it market-leading, in the areas of, trust business, investment business, captive insurance and insolvency.
For further information on Vistra BVI, please visit www.vistra.com or contact Simon Filmer (simon.filmer@