At Harneys we understand the complexities and challenges faced when business owners transfer control from one generation to the next or when an owner-managed business is sold. Our depth of experience across multiple industries and jurisdictions allow the team to provide bespoke structuring advice that meets the objectives of family owned businesses.
Business succession trusts created in the BVI or Cayman will typically be governed by the provisions of the Virgin Islands Special Trusts Act, 2003 (VISTA), Cayman STAR trusts or would involve the use of a Private Trust Company. These types of structures allow for flexibility and the involvement of the family beyond those created by a traditional trust.
At Harneys we know that no two businesses are the same and we are able to use our ability and experience to devise and implement solutions that meet individual family needs and circumstances.