Ownership and Control of my Offshore Company

Can I change the directors of my offshore company?

Yes, absolutely. The formal procedure for removing the directors of the IBC and appointing new directors will depend on the structure of the particular offshore company. Namely, how many directors there are, how many shareholders, what is the quorum necessary to carry out corporate resolutions, what is the procedure for calling and holding meetings of members and/or directors. For those companies where full management services are provided by the Registered Agent organization, the change of the director(s) or any other amendment to the internal structure of the IBC can be effected as soon as all beneficial owner(s) of the IBC expressly request such change to be carried out. Apart from such request, nothing else is required from the owners, as all the procedures are performed by the Registered Agent.

To the contrary, when the Registered Agent firm does not provide the nominee director and nominee shareholding services - which means that all those managerial positions are filled by the client himself or his appointees - then the Registered Agent can only advise on the necessary procedures and paperwork. In such case, the necessary corporate resolutions will have to be executed by the owners of the IBC themselves.