Till Brehm has released an essential how-to at HowToForge.Com for installing OpenVZ, the open source version of SWsoft Virtuozzo, on a Linux Debian 3.1 32bit operating system.
It starts from the very beginning step, patching kernel, up to the final goal, building a so-called Virtual Private Server (VPS). With OpenVZ you can create multiple Virtual Private Servers (VPS) on the same hardware, similar to Xen and the Linux Vserver project. OpenVZ is the open-source branch of Virtuozzo, a commercial virtualization solution used by many providers that offer virtual servers. The OpenVZ kernal patch is licensed under the GPL license, and the user-level tools are under the QPL license. He clearly warns that this is not the only way of setting up such a system and issues no guarantee that this will work for you 🙂
Read how it worked for him.