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VISTA

 
Virgin Islands Special Trust Act 2003

The Virgin Islands Special Trust Act, 2003 was enacted to make special provision for trusts of shares in companies and for related matters, including provision for the retention by trustees of shares in a company irrespective of the financial advantages of disposal, for prohibiting trustees from intervening in the management of the company except in certain circumstances, and for the appointment and removal of directors of the company in accordance with the terms of the trust instrument. 

Essentially, specific conditions have to be satisfied, and allows a person to establish a BVI trust that can only hold shares in a BVI Business Company.  Typically, VISTA Trusts are used for succession planning and closely held structures.

Contact: Ms. Simone Martin
Financial Services Commission