Virgin Islands Waiver Annual Meeting of Directors
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How to fill out Waiver Annual Meeting Of Directors?
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FAQ
A majority vote is required for the resolution to proceed and for the director to be removed. At the meeting, you must take minutes and retain a copy of the minutes and the resolution at your company's registered address. Within 14 days of the resolution, you must inform Companies House of the director's removal.
A shareholder wishing to remove a director must give special notice of their intention to the company, which then has 28 days to call a general meeting. At this meeting, shareholders will vote on the proposed resolution. If it is passed by a simple majority, then the director will be removed from their position.
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.
Challenge Directors Where the shareholders exercise the right to remove a director by passing a written resolution, a majority must be of at least 75% of the shareholders entitled to vote (or, in either case, other thresholds specified in the Memorandum or Articles).
A director is required to act honestly, in good faith and in a manner which he believes is in the best interests of the company. In addition, a director must exercise his powers for a proper purpose and shall not act, or agree to the company acting, in a manner that contravenes BVI legislation or the company's M&A.
All companies are required to have at least one director, although that director does not have to be a natural person. There is no requirement for directors to be a BVI resident or citizen.
