Vistra Launches Operations in the BVI

Vistra, a provider of corporate, trust and fund administration services, has launched Vistra Trust in the British Virgin Islands.

The launch was established to meet the growing demand for British Virgin Islands trust services.

Simon Filmer will lead the BVI operation as managing director. Vistra BVI services include the establishment of a broad range of BVI trust and corporate structures; trustee, protector and full administration services, as well as the provision of corporate director and nominee shareholder services.

Simon comments: “Being granted a Class II Trust Licence by the BVI Financial Services Commission allows us to conduct BVI trust business without limitation. This includes the innovative VISTA Trust, which remains attractive to international clients. A short-form revocable VISTA trust precedent has also been developed, the Vistra Succession Trust, which is a very cost-effective way of avoiding probate for shareholders of BVI companies. We have already seen considerable interest for BVI trust services throughout the Group, including from Hong Kong, Singapore and Dubai.”

The International Business Companies Act of 1984 was replaced in 2006 by the BVI Business Companies Act, to boost the popularity of the BVI, as a well regulated jurisdiction with a supportive judicial system based on English Common Law. The BVI is home to over 450,000 active corporate entities.