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We have put together a summary of the main succession planning options, relating to shares in a BVI company, and their consequences on the death of the owner of such shares.
In particular we consider the very significant advantages of the BVI VISTA trust for the ownership of offshore private investment and trading companies. Although the VISTA trust concept is limited to trusteeship of BVI company shares, families can "lock in" to the VISTA regime by, for example, forming a BVI holding company to own non - BVI assets.
Aside from family-owned businesses, VISTA trusts also have much to offer wealthy families wishing to create their own family trustee company (such trustees are commonly referred to as Private Trust Companies or PTCs and often function as trustees of family trusts).
VISTA trusts also have much to offer multinational business, for example holding the voting shares of mutual funds, and special purpose vehicles (SPVs) in the course of securitisations and other structured financial transactions.
However our document focusses primarily on the inheritance or succession planning advantages of VISTA trusts for private clients.
For a more detailed summary...