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Changes to VISTA and other Trust Laws in the BVI
Tuesday 27 August 2013, 12:00 - 14:00

About this Seminar

The BVI has amended a number of the laws relating to trusts. The amendments have been in force since 15 May 2013 and will be of interest to private client practitioners and advisers.

There have been significant changes to the Virgin Islands Special Trusts Act ("VISTA") together with changes to the Trustee Act, Private Trust Company Regulations, Banks and Trust Companies Act and the procedure relating to administration of estates. These are the first changes to VISTA since it came into force in 2004. VISTA has proven to be very popular particularly in Asia.

The speakers will outline in particular the changes to VISTA, explain the reasons behind them and highlight some of the opportunities for practitioners in this area. The speakers will also summarise and explain the other changes to the trusts laws in the BVI. 

Our speakers are each able to provide a different insight into this topic. Richard Grasby of Maples and Calder Hong Kong has been working on BVI matters in Asia since 2009. Zac Lucas, now of Lawrence Graham LLP in Singapore, was based in the BVI for 8 years and chaired the trust law review committee which formulated the changes and put them before the Legislature of the BVI.

 Seminar Programme 

12.00 - 12.30pm

Registrations & Standing Buffet Lunch

12.30 –12.45pm

Opening Remarks & Overview by Chairperson

  • Ms. Linda Wong – Secretary, STEP (Singapore Branch); Managing Director, Kensington Corporate Management (S) Pte Ltd

12:45 – 1:45pm

Changes to VISTA and other Trust Laws in the BVI.

  • Mr. Richard Grasby - Head of Trusts and Private Wealth, Asia, Maples and Calder
  • Mr. Zac Lucas - Partner, Private Capital, Lawrence Graham Singapore  

1:45 - 2:-00pm

Q&A Session & Closing Remarks

 

 

 

 

 

 

 

 

 

 

 

 

 

About the Chairperson

Ms. Linda Wong – Secretary, STEP (Singapore Branch); Managing Director, Kensington Corporate Management (S) Pte Ltd

Linda Wong is one of the founder members of the Kensington Trust Group, of which Kensington Corporate Management (S) Pte Ltd is a member of. She is the Managing Director for Kensington Singapore.

Linda has more than 15 years of experience in the trust and fiduciary industry. Prior to her career in the trust and fiduciary industry, Linda was trained as an Auditor with one of the top 4 audit firm. Thereafter, she took up the position as an accountant in the hospitality line, which eventually led her to this industry.

She is a member of CPA Australia, a Chartered Accountant with the Malaysian Institute of Accountants, a Certified Financial Planner with the Financial Planning Association of Malaysia and a member of the Society of Trust and Estate Practitioners, Singapore Branch.

Linda is also an approved Trust Officer for Labuan.

Linda graduated with a Bachelor of Economics, majoring in Accounting degree from Monash University, Australia

About the Speakers

Mr. Richard Grasby - Head of Trusts and Private Wealth, Asia, Maples and Calder 

Richard advises institutional trustees and private individuals on all areas of trust law and related private client issues. He also advises trustees, investment managers and investors on the establishment of investment funds with a particular focus on unit trusts and private funds for wealthy individuals and families. He acts for trustees and settlors on the establishment and administration of private and charitable trusts and the establishment of private trust companies. He also acts in respect of estate planning and administration of estates. He regularly writes for industry journals and has spoken at several conferences in Asia. He is also a member of the STEP Hong Kong Executive Committee. 

Richard joined Maples and Calder in 2008. He spent six months working in the trusts group in the Cayman Islands office before moving to Hong Kong in 2009. Previously he worked as an attorney for Ogier in the Cayman Islands and before that, for SJ Berwin LLP in London. He is also named as a leading lawyer on Citywealth's Leaders List.

Mr. Zac Lucas – Partner, Private Capital, Lawrence Graham Singapore 

Zac specialises in all areas of international private client law, with particular emphasis on International cross border estate and succession planning, private family trusts, commercial trusts, corporate and family governance trusts, business succession planning, private wealth planning, international family offices and charities.

Since his move to Singapore, Zac has concentrated on business succession planning involving Asian family businesses primarily based in Southeast Asia. Zac is regularly instructed by international law and accounting firms, private banks, independent trust companies and wealthy individuals and families. Zac has contributed to legislative amendments to the trust and estate laws of the British Virgin Islands.  

He is the former deputy chair of STEP BVI and the former chair of the STEP trust law reform committee in the BVI. 


For more information, please contact the STEP Secretariat at +65-31287781 (VOIP no., no 6 prefix required) or email This email address is being protected from spambots. You need JavaScript enabled to view it.. Simply download and return the completed registration form and e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it. or fax to +65-31287781 (no 6 prefix required) before the closing date 20th August 2013

Location :FTSE Room, Capital Tower Singapore
Contact :E-mail; This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: +65-31287781
STEP CPD Scheme: 1.5 structured hours
STEP Singapore CPD Training Level: Update

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