New British Virgin Islands Trust and Estate Legislation Part 2

The British Virgin Islands (BVI) is now regarded as one of the world's premier international financial centres in which to set up trusts and private trust companies (PTCs). Its state-of-the-art legislation has now been updated to enable the creation of dynastic trusts and to enable additional BVI companies to qualify as PTCs. The jurisdiction's laws governing eligibility to provide corporate executorships has also been updated to enable fully regulated trust service providers to act as executors, thereby encouraging more shareholders of the hundreds of thousands of BVI companies on the register to execute wills. The chair of the committee which recommended these changes considers these and the other recent amendments to BVI law.