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BVI Trusts

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BVI Wills and the Impact of Non-BVI Laws

Private international law issues which need to be considered both before and after preparing a British Virgin Islands will disposing of shares in a British Virgin Islands company. Abstract This note considers the need, when preparing wills disposing of shares…

Groundbreaking New Provisions in Variation of BVI Trusts

Abstract: The British Virgin Islands (BVI) has enacted innovative new trust legislation which includes provisions conferring on the BVI court an additional power to vary BVI trusts. The legislation, which is unique but which was inspired by section 47 of…
BVI Trust Law

BVI Introduces New Reserved Power Trust Legislation

By Christopher McKenzie for Trusts & Trustees, Oxford University Press Background—why reserved power legislation has been enacted Many prospective settlors, especially those from jurisdictions or family backgrounds in which trusts do not feature,1 the establishment of a lifetime trust can…

BVI Strengthens Firewall Provisions in Trustee Act

When section 83 A of the British Virgin Islands’ Trustee Act came into effect in 2004 the jurisdiction was regarded as having the most sophisticated and well thought-out ‘firewall’ offering available, but, since then, the territory has arguably fallen behind…

BVI Introduces Significant New Trust and Estate Legislation

BRITISH VIRGIN ISLANDS, March 2021– O’Neal Webster is pleased to confirm that the British Virgin Islands (BVI) Government has introduced a substantial number of changes to its trust and estate legislation following recommendations made by the Trust and Succession Law…

Further Amendments to the BVI’S Trust and Estate Legislation 2021

By Christopher McKenzie O’Neal Webster is pleased to be able to advise that, in addition to other ground-breaking changes to its trust and succession laws, which are covered elsewhere, two new statutes, the Property (Miscellaneous Provisions) (Amendment) Act, 2001 and…
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