Laws of the British Virgin Islands provides a special kind of trust - the so-called VISTA Trust (the name is derived from the first letters of the names of the normative legal act - The Virgin Islands Special Trusts Act 2003 as amended).
The distinctive features of this type of trust are:
• Property, belonging to VISTA Trust may be transferred only through the share stock of BVI companies. VISTA Trust does not include revenues from the activities of these companies and other property;
• There is no obligatory requirement for Trustee to manage the company;
• The law allows Trustee to properly intervene in the management only for the purpose of solving specific problems defined in the Trust Agreement;
• If Trust Deed permits, Trustee may participate in the governance process whenever required and only on special request of the owner or other authorized individuals;
This tool is an extremely effective way to protect corporate rights of the owner of the company from the encroachments. On the one hand a person to transfer the shares to the trust, is no longer the owner of the other. But the person does not lose control of the operational activities of the company. At the same time, limiting the right to govern exhaustively listed in the law, as well as further concretized deployed trust agreement that provides a reliable protection of the interests of the beneficiary company.