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A shareholder is entitled, by written notice to the business company, to inspect the register of members, the register of directors, minutes of shareholder meetings and shareholder written resolutions.
Common shareholders are granted six rights: voting power, ownership, the right to transfer ownership, a claim to dividends, the right to inspect corporate documents, and the right to sue for wrongful acts.
Every BVI business company must have at least one director, although the memorandum or articles may provide for a company to have more than one director.
Bearer shares Bearer shares will be phased out in the BVI, and from 1 January 2023 it is no longer permissible to issue bearer shares, or to convert or exchange registered shares into bearer shares.
This section is intended to offer protection to the value of members' shareholdings. The deceptively straightforward provision requires members to approve any disposition of more than 50% of a company's assets that is to be made outside the ordinary course of the business.
What is the process to transfer shares in a BVI company? Shares in a BVI company are transferred by a written instrument of transfer, which must be signed by the transferor and contain the name and address of the transferee. The executed instrument of transfer should be sent to the company for registration.
Changes to BVI Business Companies Act, 2023 Amendments - Filing an Annual Return. Effective 1 January 2023, all companies incorporated or registered in the BVI ("Companies") are required to file a financial return (an "Annual Return") with their Registered Agent each year.
BVI Companies fail on the three main cornerstones of your offshore strategy. They fail on asset protection, they fail on tax avoidance for most people and they fail on protecting your privacy. There are much better options available. You should exercise extreme caution if somebody is trying to sell you a BVI company.