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Legal analysis by Harneys lawyers
by Henno Boshoff

Trusts & Estates - Purpose Trusts: an overview

Under most jurisdictions, unless a trust is established for charitable purposes, the assets require to be held for a specific beneficiary or class of beneficiaries. However, it is possible in the BVI to establish a trust for non-charitable purposes.

One last chance to take advantage of offshore trusts?

The clock is ticking towards April 2017 when the new rules affecting the status of non-domiciled but UK resident individuals as set out in Finance Bill 2017 will take full force and effect. There are estimated to be around 115,000 non-domiciled...

Trusts & Estates - BVI Trusts - an overview

This guide provides a brief outline and highlights the key features of trusts in the BVI.

Asia - Private Trust Companies: an overview

This guide outlines the key features of a Private Trust Company in the BVI and identifies the requirements to set up a PTC and its uses.

Trusts & Estates - VISTA Trusts – an overview

VISTA allows a shareholder to establish a BVI trust over a BVI company which disengages the trustee from administrative and managerial responsibility in relation to that BVI company.

Tax and Regulatory - New inheritance tax rules to impact non-domiciles holding UK property through offshore companies and trusts

On Monday, 5 December, the Government announced the results of the consultation on the proposed reforms to the taxation of non-domiciles. As we have previously advised the new legislation will have practical implications for those who purchase, hold or...

Tax and Regulatory - Update: ATED and IHT – Is it time to push the envelope (or unwind the trust)?

On 19 August 2016, the UK Government published a second consultation of its proposed changes to the inheritance tax treatment of UK residential property for tax high value residential real estate, including where held indirectly or by non-UK resident...

Tax and Regulatory - Q&A for solvent voluntary liquidations for BVI companies

This is a short guide to solvent voluntary liquidations of companies incorporated in the British Virgin Islands. It is not intended as a substitute for full legal advice but more as an aide memoire to the procedures involved.

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