Virgin Islands Certificate of Trust - Indebtedness
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How to fill out Certificate Of Trust - Indebtedness?
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FAQ
One of the trustees of a VISTA trust must be a ?designated trustee? which is either a BVI licensed trust company or a BVI private trust company.
A VISTA trust is, therefore, the ideal structure where a settlor wishes to settle shares in a BVI company on trust for succession planning or other reasons, but wishes to retain control over the management of the company and its assets during his lifetime.
In summary, VISTA facilitates the creation of a trust of shares in a BVI company and is ideally suited to clients that wish to retain effective control of their BVI companies while at the same time taking advantage of the benefits of holding and structuring their assets through the use of a BVI trust.
VISTA is an innovative trust specifically designed to hold shares in a BVI incorporated company under which the trustee may be disengaged, notwithstanding that his trust shareholding gives him a controlling interest in the company, from management responsibility in relation the company's affairs.
US Virgin Islands is not a tax haven or offshore jurisdiction, but USVI companies (or corporations) could be established as "USVI Exempt Companies" with partial or full exemption from local and US federal income taxes.
The trusteeship of a VISTA trust must be sole and held by a licensed BVI trust company (a PTC cannot be trustee). A beneficiary of a STAR trust, in that capacity, has no standing to enforce the trust and no right to information about the trust or the trust property.
You can add foreign assets to a living trust, but the process is not easy. You will need a foreign lawyer to help you transfer the foreign assets into the trust. You may also need the foreign lawyer to create a new trust for the assets located in the foreign country.
The most common types of BVI Trusts are discretionary trusts, fixed interest trusts, VISTA trusts and non-charitable purpose trusts.