Icaza, González-Ruiz & Alemán Once Again Recognized in Chambers High Net Worth 2026
July 29, 2026
Keep the Wheel in Your Hands. Even When You Let Go.
By: Estefanía Alemán – General Manager
The Vista Trust is the British Virgin Islands’ most powerful answer to a question every business owner eventually faces: how do I protect my company today, and ensure it lands in the right hands tomorrow, without surrendering control in the meantime?
01 · WHAT IS A VISTA TRUST?
A Trust Built for Business Owners, Not Despite Them
For many business owners, entrusting the management of their company to a third party, however qualified or reputable, simply does not sit right. The idea of a trustee stepping into the picture, with legal authority over the shares they have spent years building value into, is enough to make even the most forward-thinking entrepreneur walk away from traditional trust planning altogether.
The Virgin Islands Special Trusts Act (VISTA), enacted in the BVI, was purpose-built to address exactly this. A Vista Trust is a statutory trust that holds shares of a BVI company and is expressly designed to remove the trustee from the business of running the company. The trustee holds the shares, but cannot interfere with how the company is managed. That responsibility stays with its directors, who are appointed according to the trust’s own rules.
BVI statutory framework
Governed by the Virgin Islands Special Trusts Act, a purpose-built legal structure.
Trustee non-interference
The trustee holds shares but is legally prohibited from meddling in company management.
Director-controlled
Day-to-day decisions remain with directors appointed under the trust’s own rules.
02 · RETAINING CONTROL
You Transfer the Shares. You Keep the Steering Wheel.
For most settlors, the fear of a traditional trust is loss of influence. Vista eliminates that fear by design. The trust deed can confer on the settlor, or on a designated “Office of Director”, the exclusive right to appoint and remove directors of the company held in trust. So while legal ownership passes to the trustee, decision-making authority stays exactly where you want it.
“Under a Vista Trust, the trustee does not second-guess the board. The board answers only to the rules set in the trust deed: rules you helped write.”
This means you can continue to:
- Appoint your directors: Retain the power to select who sits on the board, and to remove them if needed.
- Drive business strategy: Operational and strategic decisions remain insulated from trustee oversight.
- Define the rules: The trust deed is your constitution: it governs how power is held and exercised.
Key insight: A Vista Trust separates ownership from control. The trustee owns the shares on behalf of the beneficiaries. But management of the underlying company continues undisturbed, because VISTA makes trustee interference legally impermissible.
03 · SUCCESSION PLANNING
Your Legacy, Written in the Trust Deed: Not Left to Chance
A company without a succession plan is an accident waiting to happen. Family disputes, forced sales, probate delays, and unexpected tax burdens have destroyed businesses that took decades to build. A Vista Trust replaces uncertainty with precision.
Because the shares are already held inside the trust structure, they do not pass through your estate on death. Instead, they flow automatically to whomever you have named, following the timetable and conditions you have already set out.
- Designate your beneficiaries: Name who receives the economic benefit of the company’s shares: children, family members, a foundation, or a combination.
- Set conditions and timelines: Require beneficiaries to reach a certain age, complete education, or meet other milestones before receiving assets.
- Appoint a successor director: Name the person who will take over management of the company, ensuring business continuity the moment it is needed.
- Bypass probate entirely: Shares inside a trust do not form part of your estate, so there is no probate process, no delays, and no public disclosure.
- Protect against claims: Trust assets are generally insulated from creditor claims and forced heirship rules in many jurisdictions.
Unlike a will, which is a public document and subject to challenge, a Vista Trust deed is private, binding, and effective immediately. Your succession plan cannot be contested in the same way an estate can.
Would you like to learn more about how this structure can protect your wealth? Reach out to us at bd@icazalaw.com.
