How to enable time synchronisation between OpenVZ host and guest system
If you want to set the time in a OpenVZ Guest automatically, execute the following command on the host system:
vzctl set 101 –capability sys_time:on –save
and restart the guest system:
vzctl restart 101
101 is the ID of the container and has to be changed to match the ID of your OpenVZ VM.
Thanks to PlanetFox for this FAQ.