TORTOLA, British Virgin Islands, March 27, 2014 /PRNewswire/ --
Vistra, a leading global provider of corporate, trust and fund administration services, has announced the launch of Vistra Trust (BVI) Limited which has been established to meet the growing demand for British Virgin Islands trust services.
Simon Filmer will lead the BVI operation as Managing Director. He has over 14 years' experience in the fiduciary services industry, with a focus on corporate business, trusts and investment business. 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 commented: "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 introduction of the International Business Companies Act, ('IBC Act'), in 1984 established the BVI's reputation as an attractive option for clients wishing to obtain reasonably priced offshore corporate vehicles. The IBC Act was replaced in 2006 by the BVI Business Companies Act, further boosting the popularity of the Territory, as a well regulated jurisdiction with a supportive judicial system based on English Common Law. The BVI is now the most popular jurisdiction for the formation of offshore corporate vehicles, and is home to over 450,000 active corporate entities.
Over the years, the BVI has implemented several innovative pieces of legislation, much of it market-leading, in the areas of, trust business, investment business, captive insurance and insolvency.
About Vistra Group
Vistra is a leading independent provider of trust, fiduciary, corporate and fund services delivering personal and tailored solutions to international corporations, institutional investors and high net worth individuals from around the world.
Our clients can benefit from a multi-jurisdictional and personal approach, delivered by a team of professionals with an in-depth understanding of the often complex needs of every client. Our services include company formation and management, fund formation and administration, trustee services, family office, marine and aviation and accounting services.
Today Vistra employs 500+ employees in 30 offices covering 21 jurisdictions, with each of our offices providing the full range of fund, trust, corporate and estate planning solutions.
Vistra is a unique player in the trust and fiduciary industry, boasting the most balanced geographic reach globally while always guaranteeing the personal and tailored service that our clients deserve.
Together, we bring to life the Vistra ethos of "Crossing Borders, Creating Solutions".
Vistra is part of the OV Group, which includes Offshore Incorporations (OIL), Asia's leading company formation specialist and Vistra. The OV Group employs 700+ professionals and is the 3rd biggest provider worldwide of trust and corporate services.
For further information please visit http://www.vistra.com
SOURCE Vistra Group