Last year's reform of trusts and estates legislation was a clear statement of intent to move the BVI into line with, and in certain instances, ahead of its offshore competitors. The BVI's success as an incorporations jurisdiction continues, and the accompanying need for practical and flexible wealth preservation and succession planning keeps trust practitioners busy. There is a new generation of trust clients using the BVI: the encouragement of entrepreneurship, innovations in fintech and the introduction of the regulatory sandbox in 2020, all contribute to bring a younger generation of clients to the Territory with different priorities, concerns and sensibilities to those of their predecessors. The BVI is well-placed to foster this new generation which is only expected to grow in coming years.
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