BVI Trusts

Components and General Features

Trusts in the British Virgin Islands are governed by the Trustee Ordinance 1961 and amended in 1993 and 2003 and the Virgin Islands Special Trust Act 2003.

Registration Requirements
There is no requirement for the registration of trusts in the British Virgin Islands.

Settlor
The Settlor does not need to be a permanent resident of the British Virgin Islands.

Beneficiary
The Beneficiary does not need to be a permanent resident of the British Virgin Islands.

Trustee
There is no requirement for the trustee to be licensed or resident in British Virgin Islands.

Protector
The appointment of a Protector is optional.

Perpetuity Period
The maximum duration of trusts in the British Virgin Islands is 360 years, except for Charitable Trust – unlimited in duration

Property
There is no restriction on the property of a British Virgin Islands Trust.

Confidentiality
As there are no registration requirements for a trust in the British Virgin Islands the details of the Settlor and Beneficiaries are not disclosed to any person other than the Trustee.

Taxation
Trusts in the British Virgin Islands are exempt from taxation if all the beneficiaries are non-British Virgin Islands residents.
Distributions to beneficiaries from a British Virgin Islands Trust are not taxable in the British Virgin Islands in the hands of the beneficiaries.

Asset protection
There is no specific legislation providing asset protection for trusts in the British Virgin Islands.

Reporting Requirements
There are no reporting requirements for a trust in the British Virgin Islands.

BVI Trust
Registration requirement No
Settlor residency requirement No
Beneficiary residency requirement No
Trustee residency requirement No
Should the trustee be licensed No
Protector allowed Yes
Protector requirement No
Perpetuity period 360 years, except for Charitable Trust – unlimited in duration
Restriction on trust property No
Taxation Exempt
Confidentiality No information is disclosed to any person
Asset protection N/A – no specific legislation for asset protection
Reporting requirement No

TBA expertise

TBA has a large specialist trust and private client team consisting of three directors, a senior associate, two associates and a trainee. Our specialist team has extensive experience of advising clients in relation to the establishment and structuring of trusts and foundations, estate planning, trust and estate litigation, international tax investigations and TIEA requests.

Further information on these alternative structures is available on request.

Why TBA

What separates us from our competitors is that our services don’t end with the registration of your company. We offer a wide range of additional services others can’t or just won’t offer, such as lifetime free support.

Whilst most providers either specialise on personalized consultation at relatively high rates or run bulk registration factories without any support, we want to offer the positive aspects of both types.
Therefore TBA combines professional advice, worldwide registration services, reasonable fees, customized order processing, lifetime support and fast processing. Where others see company formation services as a bulk registration with no support and no individual assistance, we do care about your business needs

Should you have any question or matter
You would like to discuss or clarify with us

Or

Should you like to receive further Information
About our services and fees, …

Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your company.

You may call or email us, and we will be happy to assist you in a fast and efficient manner.

You can also come and visit us at our Limassol offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.