Capacity, powers, and limitations of a BVI offshore company.

A BVI offshore company has full capacity to carry on or undertake any business or activity, do any act or enter into any transaction with full rights, powers and privileges, and full powers to issue shares with pre-emptive rights according to its memorandum and articles of association.

The offshore company may NOT carry on banking as a business, trust business, insurance, reinsurance company, insurance agent, insurance broker, business of company management, the business of providing the registered office or the registered agent for companies incorporated in the BVI, the business as a mutual fund, manager of mutual funds or administrator of mutual funds unless the company is licensed to do so according to the applicable BVI laws. The company may not carry on any other business that gives rise to a licensing requirement under any law for the time being in force in the British Virgin Islands unless it is licensed, regulated, recognized or otherwise approved pursuant to such law.