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Trust and Corporate Services Providers

 

Definition of Trust Business

“Trust Business” means the business of

  • acting as a professional trustee, protector or administrator of a trust or settlement;
  • managing or administering any trust or settlement; or
  • acting, in relation to a Class I trust licence, as trustee under wills and settlements and as executor and administrator of deceased persons.

Licensing Authority

The Licensing and Supervisory Committee is the authorisation arm of the Commission, responsible for assessing all applications for licences and certificates to operate in and from within the Virgin Islands.

Regulation and Supervision of Trust Business

The Financial Services Commission Act, 2001, the Regulatory Code, 2009 and the Banks and Trust Companies Act, 1990 together establish a general legal framework for the regulation and supervision by the Commission of Trust Business carried on in and from within the Virgin Islands.

The Financial Services Commission oversees Trust Business through the Banking & Fiduciary Services Division, which ensures that all trust and corporate service providers operating in and from within the BVI comply with relevant BVI laws, international regulatory standards and established best business practices. Regarding Trust Business, the Division administers the Banks and Trust Companies Act, 1990.

Contact: Mr. Kenneth Baker
Deputy Managing Director, Regulation