What Is a VISTA Trust and Why Are Brazilians Choosing Trusts in the BVI?

In recent years, there has been a significant increase in the number of Brazilians seeking to use fiduciary structures abroad to protect their assets and organize family succession. Among these structures, trusts stand out — legal instruments through which a settlor transfers assets to a trustee, who manages them for the benefit of one or more beneficiaries, in accordance with the terms set out in the Trust Deed.

The British Virgin Islands (BVI) have become one of the most popular offshore jurisdictions for this type of structure. In addition to offering legal stability, tax efficiency, and regulatory flexibility, the BVI also provide a unique fiduciary arrangement known as the VISTA Trust.

What Is a VISTA Trust and What Are Its Advantages?

VISTA stands for the Virgin Islands Special Trusts Act, a special piece of legislation that introduced an innovative trust structure combining asset protection with business control — key aspects highly valued by Brazilian entrepreneurs.

This type of trust — available exclusively in the BVI — allows the settlor to retain indirect control over the trust’s assets, particularly shares in companies, even after their formal transfer to the trustee, without compromising the fiduciary nature of the trust. This ensures the continuity and autonomy of business management — a crucial factor for those who wish to preserve their influence over family enterprises.

By choosing this structure, it is possible to:

• Avoid court probate proceedings in Brazil, allowing for a more agile, organized, and extrajudicial succession process;

• Protect assets against legal risks, political instability, and family disputes;

• Establish multi-generational wealth governance, with clear rules for multiple beneficiaries and distribution of ownership interests;

• Benefit from a tax-neutral environment in the BVI, while still complying with Brazilian tax obligations under Law No. 14,754/2023.

In general, both regular trusts and VISTA trusts serve as effective tools for asset protection and international succession planning. However, the VISTA model provides the settlor with greater control over the assets placed under trust.

Why the BVI Are an Attractive Jurisdiction for Trusts

The appeal of the BVI for establishing trusts largely stems from the jurisdiction’s legal strength and predictability. Based on the principles of English common law, local legislation ensures a reliable regulatory framework, with courts that specialize in commercial and fiduciary matters. This provides a high degree of customization and flexibility for trusts established in the BVI.

Conclusion

The combination of legal security, tax neutrality, succession efficiency, and multi-generational governance positions BVI trusts as one of the most robust tools for international estate planning for Brazilian families. In an environment of increasing oversight and transparency requirements, such structures — when properly designed — represent a model of wealth continuity aligned with the highest global legal and economic standards.

Aurora acts as a Registered Agent in the BVI and may also serve as a trustee. With a local presence and a specialized team, Aurora is fully equipped to assist clients through every stage — from the analysis and design of the most suitable fiduciary structure to its formalization, ongoing management, and long-term governance.