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.
Where the owner of a BVI company dies, his/her interest in shares in a BVI company cannot be validly transmitted to his/her heirs until the appropriate grant (of probate, letters of administration or re-sealing) has been obtained from the BVI court.
This guide provides a brief outline and highlights the key features of trusts in the BVI.
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.
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.
This guide looks at the process and benefits of transferring a company, or partnership, in or out of the Cayman Islands.
This guide examines directors' various duties under Cayman Islands law, including common law duties, statutory duties, and duties under the jurisdiction's insolvency, fraudulent trading, theft, fraud, securities and money laundering laws.
Investment fund vehicles established in the Cayman Islands continue to be extremely popular amongst investment managers and investors alike. The Cayman Islands has established a dominant position in the field of offshore investment funds.
Investment funds established in the Cayman Islands fall into two broad categories: open ended funds and closed ended funds. This guide deals with closed ended funds, which typically are established in the Cayman Islands as limited partnerships.
The Exempted Limited Partnership Law (the ELP Law) governs the formation of exempted limited partnerships (ELPs) in the Cayman Islands. The Partnership Law also contains provisions relevant to the affairs of an ELP.