British Virgin Islands: Reforming the prudent man
As new legislation to facilitate the use of trusts as succession vehicles is brought into force in the British Virgin Islands, Christopher McKenzie evaluates the impact of the new rules on trustees and directors
While the trust has always been regarded as one of the best ‘succession vehicles’, its use to cater for the succession of shares in companies has historically been impeded in the British Virgin Islands (BVI) by a rule of English trust law that was intended to help preserve the value of trust investments.
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