The VISTA trust - a trust created and subject to the Virgin Islands Special Trusts Act 2003 as amended - is a modern form of trust for holding shares in companies where it is intended that:
VISTA信託—依2003年修正之維京群島特別信託法所成立之信託並受該法規範的信託是目前持有公司股份一個最先進的機制，它係為了
a) the shares will be held indefinitely; and無限期持有股份
b) the trustee is not intended, other than in special and defined circumstances, to intervene in the conduct of the affairs of the underlying company or companies.
有別於特別及特定的情況，受託人非故意的介入以下公司或公司們事務行為。
Normally a trustee must act as a "prudent investor" in respect of shares it holds in a company. This will require the trustee to monitor the company's management and performance. It may also require the trustee to sell the shares to maximise the financial advantage of the trust assets, or diversify risk. These trustee duties can easily conflict with the interests of ‘family' trading and investment companies.
受託人就其所持有公司股份通常要以謹慎投資人自居。這將要求受託人監督公司之經營與業務執行。其亦要求受託人出售股份時要以信託財產之最大經濟利益或者分散風險為考量。受託人義務很輕易地會與家族交易與投資公司利益相衝突。
VISTA removes these conflicts and problems by enabling clients to create VISTA trusts under whose terms the trustees have no duties to interfere in the management of the company or realise the latent value of the shared.
VISTA移除這些衝突及問題；客戶藉由成立VISTA信託，使得受託人於期受託期間無介入公司經營之義務或理解到其所享有潛在的價值。
Summary of VISTA's main provisions維京群島特別信託法主要條文摘要
Exceptionally, if an "interested person" e.g. a beneficiary, calls upon the VISTA trustee to intervene in the company's affairs then the trustee must do so if the interested person has a "permitted ground of complaint" which must be specified in the trust instrument.|
例外情況，假設像受益人這種利害關係人，要求VISTA受託人介入公司事務，該利害關係人係依據信託文件有載明可據以提出申訴，受託人就必須為之。
The VISTA trust - a trust created and subject to the Virgin Islands Special Trusts Act 2003 as amended - is a modern form of trust for holding shares in companies where it is intended that:
VISTA信託，依2003年修正之維京群島特別信託法所成立之信託並受該法規範的信託是目前持有公司股份一個最先進的機制，它係為了
a) the shares will be held indefinitely; and不確定持有股份
b) the trustee is not intended, other than in special and defined circumstances, to intervene in the conduct of the affairs of the underlying company or companies.
Normally a trustee must act as a "prudent investor" in respect of shares it holds in a company. This will require the trustee to monitor the company's management and performance. It may also require the trustee to sell the shares to maximise the financial advantage of the trust assets, or diversify risk. These trustee duties can easily conflict with the interests of ‘family' trading and investment companies.
受託人就其所持有公司股份通常要以謹慎投資人自居。這將要求受託人監督公司之經營與業務執行。其亦要求受託人租售股份時要以信託財產之最大經濟利益或者分散風險為考量。受託人義務很輕易地會與家族交易與投資公司利益相衝突。
VISTA removes these conflicts and problems by enabling clients to create VISTA trusts under whose terms the trustees have no duties to interfere in the management of the company or realise the latent value of the shares.
Summary of VISTA's main provisions維京群島特別信託法主要條文摘要
The shares of a company held by a VISTA trust may be held indefinitely.
The directors or other parties of the underlying company can manage the affairs of the company without interference from the trustee.
The application of VISTA is to shares in BVI companies only.
Shares held subject to VISTA are held on trust to retain the shares.
Notwithstanding the trust to retain, the trustee is given power (subject to the precise terms of the trust) to dispose of the shares with the consent of the directors, or the settlor, or any other person nominated in the trust instrument.
The trustee is expressly prohibited from exercising its voting power or other powers attaching to the shares so as to interfere in the management of the company or the conduct of the business.受託人明確地被禁止行使其投票權或其他依附股份的權利，以便介入公司經營或業務行為。
Exceptionally, if an "interested person" e.g. a beneficiary, calls upon the VISTA trustee to intervene in the company's affairs then the trustee must do so if the interested person has a "permitted ground of complaint" which must be specified in the trust instrument.|
例外情況，假設像受益人這種利害關係人，要求VISTA受託人介入公司事務，倘使利害關係人依據信託文件而其有詳載取得許可之據理力爭的理由，然後受託人必須為之。
The settlor can lay down rules regulating the appointment, removal and remuneration of directors of the company owned by the VISTA trust. The rules, contained in the VISTA trust, could for example nominate a successor director (if the settlor is the director) on the settlor-director's death.
The terms of the VISTA trust can call on the trustee to transfer the shares of the underlying BVI company to specified beneficiaries on the death of the settlor. In this way, the shares can pass to family members on the death of the settlor without the settlor therefore having to make a will and this measure avoids lengthy and costly probate issues, as well as providing potential tax advantages and peace of mind.
It has already been noted that VISTA can only apply (directly) to BVI company shares.
If shares in non-BVI companies and/or other assets are to be held, these should be held by a BVI company the shares of which are held directly by the trustee of the VISTA trust.
When to set up VISTA trusts?何時成立VISTA信託
