It is no different from being a shareholder of any other company. The main issue that people generally have is how to deal with any income (dividends, profit share, gifts, etc.) received from the BVI Offshore Company. Because the income was paid to them from an offshore entity, some people think they don't have to report it - to whoever. Any income you receive should be reported according to the tax regime you fall under - according to your citizenship and residency.
The tax and regulatory benefits of using a BVI offshore company does not transfer or affect your personal tax status and your income reporting requirements. If you want to change your tax status you should consider changing your citizenship and residency.
If you have any questions about the above, send us an email.