In a BCA company, what are the residency requirements for directors?

In a Business Corporations Act (BCA) company, there are generally no specific residency requirements for directors. This means a company can have directors who do not reside in Canada, allowing for a more flexible structure. Many jurisdictions recognize the benefit of having directors from diverse backgrounds, including those who may not be Canadian residents, as they can bring international perspectives and business experience.

The other options imply certain residency rules which are not applicable under the BCA. For instance, having a requirement that at least 50% of directors must be Canadians or that all directors must be Canadian citizens would create limitations that are not enforced in this context. Requiring at least one director to be a local resident could impose unnecessary restrictions that would complicate the operation of companies in an increasingly globalized market. Thus, the flexibility of having no residency requirements for directors in a BCA company aligns with modern business practices and facilitates international investment and management.