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BVI Trusts

The traditional use of trusts is protection and preservation of family assets. The most common purposes for establishing a Trust are:

Trust is a relationship among the three parties: Settlor, Trustee and Beneficiary (ies).

Settlor is the person or corporation who establishes the Trust.

Trustee is the person or corporation appointed by the Settlor holding legal ownership of assets in the Trust for the benefit of the Beneficiaries.

Beneficiaries are the persons, corporations or charities having the beneficial right to enjoy the assets in the Trust.

The establishment of trusts in the BVI is regulated in the Trustee Act, Cap.303 which was amended by the Trustee (Amendment) Act, 2003. The purpose of the amendment was to establish certain new rules for trusts which should make the BVI an atrractive Trust jurisdiction.