A BVI BC may have one or more individual or corporate directors of any nationality. No statutory meetings need to be held whatsoever, and board meetings may take place anywhere in the world, or may be conducted by telephone, if preferred. We recommend, however, that local directors or a majority of local directors are elected to ensure that effective management is conducted in the jurisdiction of the BC at all times.
The BVI BC Act provides for a “reserve” director which is allowed where a company has one director who is also the sole shareholder. The reserve director is authorized to act on the death of the sole shareholder\director and helps eliminating the occurrence of a deadlock situation. |
