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