Trust: BVI: sourced answers
3 answers to specific questions — each with a verbatim quote from an official source and a link to it.
Every answer is checked against a verbatim quote from a stored copy of its source and has passed an independent review. This is reference information, not legal advice: rules change, and the outcome depends on your circumstances.
Trust: supplement to the legal-form questionnaire
Is an enforcer mandatory for a purpose trust
a designated trustee and an enforcer are required
«may create a valid trust for any purpose or purposes if the conditions set out in subsection (3) are satisfied. (3) The conditions referred to in subsection (2) are— (a) the purpose or purposes are specific, reasonable and possible; (b) the purpose or purposes are not immoral, contrary to public policy or unlawful; (c) at least one trustee of the trust is a designated person; (d) the trust instrument appoints a person as enforcer of the trust, and provides for the appointment of another enforcer on any occasion on which there is no enforcer, or no enforcer able and willing to act; (e) the enforcer appointed by the trust instrument is a party to the trust instrument or gives his consent in writing, addressed to the trustee who is a designated person, to act as enforcer of the trust. 58 Trustee A»
Source: laws.gov.vg · source copy as of 2026-10-03
Which licensed party is mandatory for a private trust company
registered agent with a Class I trust licence
«e trust company 6. (1) A private trust company shall— (a) ensure that, at all times, its registered agent is a person holding a Class I trust licence; and (b) not— (i) carry on any business that is not trust business; (ii) solicit trust business from members of the public; or (iii) carry on any trust business other than either unremunerated trust business or related trust business, as the case may be. (2) Subject to subparagraph (3), a private trust company shall not have the b»
Source: laws.gov.vg · source copy as of 2026-10-03
Legal form in a country
May the structure exist without a time limit
Applies when: non-charitable purpose without beneficiaries (purpose trust, specified objects)
no limit for purpose trusts
«may create a valid trust for any purpose or purposes if the conditions set out in subsection (3) are satisfied. (3) The conditions referred to in subsection (2) are— (a) the purpose or purposes are specific, reasonable and possible; (b) the purpose or purposes are not immoral, contrary to public policy or unlawful; (c) at least one trustee of the trust is a designated person; (d) the trust instrument appoints a person as enforcer of the trust, and provides for the appointment of another enforcer on any occasion on which there is no enforcer, or no enforcer able and willing to act; (e) the enforcer appointed by the trust instrument is a party to the trust instrument or gives his consent in writing, addressed to the trustee who is a designated person, to act as enforcer of the trust. 58 Trustee A»
Source: laws.gov.vg · source copy as of 2026-10-03
«(4) In this section a trust for a purpose or purposes that satisfies the conditions in subsection (3), not being a charitable trust, is referred to as a “purpose trust”. (5) No rule against trusts or powers of excessive duration shall apply to a purpose trust. (6) Nothing in this section shall operate to invalidate a trust which, apart from this section, would be a valid trust. (7) Nothing in this section affects the law with respect to charitable trusts and, in particular, nothing in this section shall affect the ability of the Attorney General to enforce a charitable trust. (8) Without prejudice to subsections (6) and (7), any purported appointment of an enforcer of a charitable trust»
Source: laws.gov.vg · source copy as of 2026-10-03
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