British Virgin Islands International Trusts are formed under the Trust Ordinance 1961 (based on the English Trustee Act 1925), as updated and amended by the Trustee Amendment Act 1993, and the subsequent Trustee Amendment Act, 2003. Since the 1993 Act, there is no requirement for registration of trusts in the BVI, and there is no public disclosure of information regarding trusts. Trust duty is payable on each trust instrument, which is achieved by buying and affixing stamps, creating no record. BVI trusts are exempt from all taxation provided that there is no resident beneficiary and no BVI assets.

Key Features

BVI International Trust

Corporate Details

General

  • Type of entity

International Trust

  • Type of law

 English Trustee Act 1925

  • Legal Framework

Trust Ordinance 1961

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Double Taxation Treaty access

No

  • Change of Domicile permitted

Yes

  • Duration

100 Years

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of BVI

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of BVI

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in BVI

  • Jurisdiction

BVI Supreme Court

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated BVI

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

No domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No