Many companies registered in the British Virgin Islands have individual shareholders. Under the BVI Business Companies Act, shares in BVI companies are deemed to be situated in the BVI.
Therefore, regardless of where the owner of a BVI company dies, his or her interest in a BVI company cannot be validly transmitted to his or her intended heirs until the appropriate grant has been obtained from the BVI Court.
Download the PDF to read more.
Related content
Guide
BVI Legislative review - Probates (Resealing Act) 2021 and the Administration of Small Estates Act 2021
Guide
Comparison of Cayman Islands limited liability companies and Delaware limited liability companies
Article
Cyprus employment series: Employers' obligations and whistleblower protections under Cyprus Law