British Virgin Islands (PRWEB) March 14, 2008
British Virgin Islands-based trust company, Harneys Corporate Services Limited, has announced the launch of a new Share Trust service that enables a simple, modern and low cost solution to succession planning involving shares in BVI Business Companies.
The main benefits of a Share Trust include the automatic succession to the shares of the company and appointment of replacement directors, in the event of the shareholder's death or earlier incapacity.
BVI Business Companies, and their forerunner BVI International Business Companies have become the most popular offshore corporate vehicle in use today, with over 800,000 registered in the British Virgin Islands. Harneys Corporate Services and its affiliates are the largest British Virgin Islands provider of administration services to these companies.
Speaking about the new Share Trust service, Harneys' senior associate Zac Lucas says "Succession planning involving shares in a BVI Business Company was usually a complex and costly affair, involving lengthy legal documents and significant delays. The Share Trust was specifically designed to remedy these problems, and now for the first time owners of shares in BVI Business Companies can provide for their succession in a simple, modern and cost effective way. The Share Trust establishes a new benchmark in succession planning; if you own shares in a BVI Business Company, the Share Trust will be relevant to you."