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Restricted Trust License

Under BVI Law, a managed trust company is defined as company whose license is subject to the condition that its business is carried on and managed by a BVI Class I trust company approved by the Financial Service Commission (FSC).

Under the Banks and Trust Companies Act, 1990 ("the Act"), a managed trust company can apply for the following categories of licenses:

  • a Class I trust license, for the purposes of carrying on trust business and company management business;
  • a Class II trust license, for the purposes of carrying on trust business only; and
  • a Class III trust license, for the purposes of carrying on company management business only.  
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