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The BVI VISTA legislation: refining the law to promote flexibility

The concept of the VISTA trust was introduced in March 2004 by the Virgin Islands Special Trusts Act, 2003 (VISTA). The primary purpose of VISTA is to enable a BVI trust containing BVI company shares to be established under which the shares may be retained indefinitely and the management of the BVI company may be carried out by its directors without any power of intervention being exercised by the trustee.1 The BVI company held by the trust will itself often be a holding vehicle for other assets, such as further BVI and/or non-BVI companies.

Source: Journal of International Tax, Trust and Corporate Planning, Jordan Publishing

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