Subscribers for shares in a British Virgin Islands (BVI) company usually assume that such shares have been validly issued and they are quick to point to their share certificate or even the share register of the BVI company as absolute evidence of that fact.
They are often surprised to learn that the issuance of a share certificate for registered shares can be an optional step for a BVI company and further that possession of a registered share certificate does not truly indicate ownership of shares for the purposes of BVI law.
On the other hand, subscribers who point to the share register of a BVI company as evidence that they own shares are correct to do so, but such ownership may be challenged based on the facts surrounding the terms on which the shares were issued.
Please see full article below for more information.
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