Vistra, a global provider of corporate, trust and fund administration services, has launched Vistra Trust (British Virgin Islands), led by Simon Filmer as managing director.

Vistra, a global provider of corporate, trust and fund administration services, has launched Vistra Trust (British Virgin Islands), led by Simon Filmer as managing director.

Filmer has over 14 years' experience in the fiduciary services industry, with a focus on corporate business, trusts and investments. Vistra BVI services include a range of BVI trust and corporate structures; trustee, protector and full administration services; as well as the provision of corporate director and nominee shareholder services.

“Being granted a Class II Trust Licence by the BVI Financial Services Commission allows us to conduct BVI trust business without limitation. This includes the innovative VISTA Trust which remains attractive to international clients. A short-form revocable VISTA trust precedent has also been developed, the Vistra Succession Trust, which is a very cost-effective way of avoiding probate for shareholders of BVI companies. We have already seen considerable interest for BVI trust services throughout the Group, including from Hong Kong, Singapore and Dubai,” Filmer said.

The firm said the introduction of the International Business Companies Act in 1984 established the BVI's reputation as an attractive option for clients wishing to obtain reasonably priced offshore corporate vehicles. 

The IBC Act was replaced in 2006 by the BVI Business Companies Act, further boosting the popularity of the territory. The BVI is now is home to over 450,000 active corporate entities.

Vistra clients include international corporations, institutional investors and high net worth individuals.