NetIncorp.com Corporation
       
Specialist in British Virgin Islands (BVI) Company Formations
We provide BVI offshore company formations and related services to clients worldwide. We are specialist in tax exempt BVI Companies. All aspects of the incorporation and post incorporation process can be completed on-line and via email. Professional personnel are available to help you on-line and off-line.
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Offshore Company Land NewsLetters?

 
 

I am the sole director and shareholder of a BVI offshore company. What happens to the company if I die?   
Staff writer: NetIncorp.com
November 12, 2012


Several things can happen to the company if you die, so the best option is to prepare for such an unfortunate event. Where the BVI company has only one shareholder who is an individual and that shareholder is also the sole director of the company, that sole shareholder/director may, by instrument in writing, nominate a person as a reserve director of the company to act in the place of the sole director in the event of his/her death.

The nomination of a person as a reserve director of the offshore company ceases to have effect if, before the death of the sole shareholder/director who nominated him/her:

1) he/she resigns as reserve director, or
2) the sole shareholder/director revokes the nomination in writing, or
3) the sole shareholder/director who nominated him/her ceases to be the sole shareholder/director of the offshore company for any reason other than his death.           

If you have any questions about the above, send us an email.

      


NetIncorp.com Corporation