Comparison of trust laws: Bermuda, British Virgin Islands and Cayman Islands
This Memorandum has been prepared for the assistance of anyone who is considering establishing a trust under the laws of Bermuda, the British Virgin Islands or the Cayman Islands. It deals in broad terms with the requirements of the respective laws. It is not intended to be exhaustive but merely to provide general information to our clients and their professional advisers.
We recommend that our clients seek legal advice in Bermuda, the British Virgin Islands or the Cayman Island on their specific proposals before taking any steps to implement them.
This Memorandum has been prepared on the basis of the law and practice as at the date referred to below…
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The Bermuda government recently approved an amendment to Bermuda’s trust legislation.
A shareholder in a BVI company seeking to bring a derivative claim in Hong Kong must first obtain the permission of the BVI court.