Asset Protection Will Substitute Avoidance of Forced Heirship Family Succession Planning Tax Planning Benefit of Charities Confidentiality and Privacy Protection Contingency Planning Fiduciary Duty Discretionary Trust BVI Offshore Trusts BVI Trustee Act

BVI Offshore Trusts

Setting up a BVI Trust, it is not necessary to register the legal entity with the Financial Services Commission or another Government institution. The formalities which must be followed with respect to the Declaration of Trust or Deed of Trust are minimal if compared to some other jurisdictions.

No annual government fees are payable for BVI trusts which have been established in the proper way. After establishment of the Trust, it is necessary to affix the necessary stamp duty to the document without presenting the instrument to the Treasury, Post Office or other public institution.

The reservation of certain rights and powers by the settlor and the fact that the trustee may himself have rights as a beneficiary, are not necessarily inconsistent with the existence of a trust under the BVI legislation.