The vesting of a gift or interest may be postponed for a maximum of 100 years creating a statutory perpetuity period and alleviating the need to use the old-fashioned common law “lives in being”.

Income may be accumulated throughout the duration of the trust.

Non-charitable purpose trusts can be created.

In order to protect the trust assets, the trustee or protector has the power to change the proper law of the trust and to transfer trust assets from one trustee to a trustee in another jurisdiction.

The trustees have wide investment powers but must act prudently.

A Settlor may restrict the trustee’s power by reserving certain matters to himself or to a Protector.

The office of Protector has been given statutory recognition.

Trust and settlement deeds do not have to be registered and trustees, the trusts, and non-resident beneficiaries are not liable to BVI tax.