The number of companies at BVI is decreasing

23.06.2014

Statistical report, published by Finance Service of British Virgin Islands, showed that the number of companies registered in the jurisdiction has decreased.

The thirty fourth statistical report is based on the data from the first quarter of 2014. So, in the first quarter of 2014 there were 14 062 companies registered at BVI. For example, 16 666 companies were registered in the same period of 2013, and the peak of interest for the registration of companies was shown in the first quarter of 2011, when 19 010 companies were registered.

Besides the data on companies in report you can find statistical information on number of issued and renewed licenses, on number of registered liquidators and insurance brokers and on performed inspections.

Source: http://www.bvifsc.vg/Portals/2/1_Statistical%20Bulletin%20Qtr%201%202014.pdf

Expert’s opinion

The decrease of interest for British Virgin Islands as jurisdiction for registration of companies was expected, especially after the leak of confidential information about activities of non-residents registered in jurisdiction.

The disclosure of information about the place of storing of company documentation is also repulsive factor.

Despite the fact the BVI are not so popular now, there are new jurisdictions which were unknown earlier and now in the light of these events they start to attract businessmen. Such jurisdiction, for example, is Island of Nevis, interest to which is based on the high level of confidentiality of corporate information. One of the perks is also the fact that decisions of the courts from other jurisdictions with regard to legal persons, registered at Island of Nevis are not recognized.

Anna Shevchenko ( Lawyer, Honest&Bright)