The Role of the Registered Agent in the BVI — and How Aurora Stands Out in This Market with Excellence

In the British Virgin Islands (BVI), every company must, by law, be linked to a registered agent duly licensed by the local authority, the Financial Services Commission (FSC).

This Registered Agent acts as the company’s legal representative before the government and is responsible for ensuring compliance with local regulations and maintaining mandatory corporate records. The registered agent’s duties include:

• Incorporation of the company and filing of legal documents;

• Maintenance of corporate records, such as directors and shareholders;

• Receiving official notices and legal documents on behalf of the company;

• Ensuring compliance with current regulatory requirements in the BVI;

• Providing ongoing compliance support, including assisting with mandatory filings to local authorities.

This is a central role in offshore corporate governance, since without a valid registered agent, the company may be deemed non-compliant and subject to penalties or even dissolution.

Aurora, formerly known as Kendall Services, is a company licensed as a Registered Agent in the BVI and operates in this jurisdiction, delivering highly specialized service.

With a local office in Tortola - BVI and a presence in Brazil through its own unit in São Paulo, Aurora stands out by offering:

• Personalized service in Portuguese, with tax lawyers specialized in Brazilian legislation;

• Advisory and strategic support from incorporation through ongoing maintenance of structures;

• Transparency in fees and processes;

• A team with over 20 years of experience in international structuring;

• Legal support in the islands and other jurisdictions.

Aurora understands the Brazilian context, delivers tailor-made solutions, and operates in full alignment with the legal requirements of both the BVI and Brazil.

Trusts: Key Considerations About This Estate and Succession Planning Tool

A trust is a legal arrangement through which a person (the settlor) transfers assets to a trustee, who manages them for the benefit of third parties (the beneficiaries) or for a specific purpose, as set out in a legal instrument known as a trust deed.

Who are the parties in a trust?

A trust is essentially composed of three elements:

• Settlor: the person who establishes the trust and transfers assets into it;

• Trustee: the person who manages the trust’s assets according to the instructions provided;

• Beneficiaries: those who will receive the benefits or assets under the terms of the trust.
  

In some structures, there may also be a protector, who supervises the trustee’s actions.

Which jurisdiction should be chosen to set up a trust?

Once the parties and structure of the trust are understood, it is important to choose the jurisdiction where it will be established. The British Virgin Islands (BVI) has been one of the leading choices, offering confidentiality and significant flexibility in both the creation and management of trusts.

BVI Advantage for Fiduciary Structures: the VISTA Trust

One of the main advantages of trusts in the BVI is their usefulness as estate planning tools and the possibility of establishing a unique type of trust: the VISTA (Virgin Islands Special Trusts Act Trust).

By transferring assets into a trust, probate proceedings and potential family disputes are avoided, allowing a smoother, more efficient, and confidential transfer of wealth. The structure also allows for the segregation of assets from the settlor’s personal estate, providing greater security in scenarios of legal uncertainty, regulatory risk, or creditor exposure.

The VISTA, in particular, was designed to allow trustees to hold and retain shares in BVI holding companies without the obligation to intervene in the management of the underlying company. This makes it a valuable option for estate structures in which the settlor wishes to keep company operations and control in the hands of designated managers or directors, while the assets remain protected within the fiduciary structure.

When to use a VISTA Trust?

A VISTA Trust is ideal for:

• Family or holding companies;

• Multi-generational succession planning;

• Structures where the settlor wishes to retain indirect control of the company;

• Situations combining asset protection with business continuity.

Aurora is a licensed registered agent in the British Virgin Islands, specializing in the incorporation and support of fiduciary structures. With a presence both in the BVI and in São Paulo, Aurora provides full support for the structuring of trusts.