WHY ASIA’S WEALTHY VALUE THE BVI
30 May 2024
KEY SPEAKER
• Richard advises trustees, ultra-high net worth individuals, private trust companies and family offices on the establishment, restructuring and administration of trusts, including special trusts i.e. BVI VISTA, Cayman STAR and Employee Benefit Trusts. He regularly assists in estate administration, succession planning and family governance. Private clients and family offices instruct Richard to advise on the use of corporate vehicles for asset holding and succession planning purposes. Richard is an expert in regulatory law including AML, AEOI, economic substance and licensing and risk management for trust companies. He also advises on collective investment funds, particularly unit trusts and private label funds.
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Partner | Private Client & Trusts T: +852 2905 5780 E: rgrasby@applebyglobal.com WeChat ID: offshoretrusts
RICHARD GRASBY
ABOUT APPLEBY
• Appleby advises on the laws of 8 jurisdictions
o BVI
o Bermuda
o Cayman Islands
o Guernsey
o Isle of Man
o Jersey
o Mauritius
o Seychelles
• Please get in contact with the speaker or any of the Appleby team.
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AWARDS AND RECOGNITION
MAGIC CIRCLE AWARDS
2021 International Law Firm of the Year category - Bronze
STEP PRIVATE CLIENT AWARDS 2020
Private Client Law Firm of the Year (mid – size)
CHAMBERS HIGH NET WORTH & GLOBAL LEGAL DIRECTORIES
Top Tier LEGAL 500 Top Tier
“Appleby is a firm that you can put your complete trust in to find a solution”
- Legal 500
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WHY ASIA’S WEALTHY VALUE THE BVI
• BVI
o Common law
o Privy Council
o Long established network of service providers in Asia
o BVI Finance / FSC in Hong Kong
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WHY ASIA’S WEALTHY VALUE THE BVI
• COMPANIES
o Ease of incorporation
o Modern company law
o No tax
o No requirement for local director
o No share capital
o Ease of distributions
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WHY ASIA’S WEALTHY VALUE THE BVI
• PROBATE
o Rules modernized
o Resealing available – HK/SIN/Malaysia/India
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WHY ASIA’S WEALTHY VALUE THE BVI
• TRUSTS(1)
• Modern trust law
o Extensive reserved powers
o Up to 360 years trust period
o Non-charitable purpose trusts available
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WHY ASIA’S WEALTHY VALUE THE BVI
• TRUSTS(2)
• Modern trust law
o Firewall
o Modern variation provisions
o Statutory Hastings-Bass
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WHY ASIA’S WEALTHY VALUE THE BVI
• PRIVATE TRUST COMPANIES
• Ease of set-up
• Low cost
• BVI over 1100 PTCs
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• Questions?
applebyglobal.com Why Asia’s Wealthy Value the BVI 30 May 2024 11 Q&A
These presentation slides are intended only to provide a summary of the subject matters covered. They do not purport to be comprehensive or to provide legal advice. No person should act in reliance on any statement contained in these presentation slides without first obtaining specific professional advice.
MAY 2024
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