Abstract
The Virgin Islands Special Trusts Act, 2003 (VISTA) created a well-thought-out trust regime which was specially tailored for situations in which trust assets comprise shares in companies, thereby removing all the problems to which the English decision in Bartlett v Barclays Banks Trust Co Ltd gave rise. The regime has proved to be particularly popular amongst risk-averse trustees and settlors alike. It has now been extended both to allow assets to be transferred to VISTA trusts from other trusts and to allow British Virgin Islands private trust companies to act as the qualifying trustees of VISTA trusts; co-trusteeship of VISTA trusts is now also permitted, thereby ensuring that foreign service providers can act as trustees and facilitating the creation of family-owned VISTA trusts.
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