Richard Grasby compares STAR and VISTA, the respective special trusts regimes of the Cayman Islands and the British Virgin Islands. He explains that whilst STAR and VISTA may be used to achieve similar results, they are not the same and the legislation in each jurisdiction was introduced with different aims in mind. Trusts under either STAR or VISTA are often used to hold high-risk or non-bankable assets, including shares in family businesses and private trust companies. Richard describes the typical use of each trust structure to own such assets, the issues which trustees should be aware of, as well as their obligations and management duties for trusts set up under each structure.

Please see the attached article for further information. It was first published in the January 2010 edition of the STEP Journal.