Wednesday, March 26, 2008

BVI company formation statistics sets new records: BVI FSC Publishes Statistics Bulletin for year 2007

BVI Financial Services Commission has published the ninth volume of its Quarterly Statistical Bulletin. The document provides figures, information, statistics and analysis of financial services activities in the year 2007.

In 2007, the record amount of 77,022 new companies was registered in the British Virgin Islands. Until now, the record years were 2006 with 65,284 companies, and the year 2000 with approximately 64,000 companies registered. By the amount of offshore companies registered, BVI confirmed its status of leading offshore jurisdiction.

By the estimation of BVI FSC, of 851,595 companies registered on the territory by the end of last year, 404,321 had the status of active company, - meaning that almost 50% of all the companies ever registered in the BVI are actively working until now. It is worth saying that BVI IBCs have been actively registered already for 23 years, starting from 1985, and actually there are not so many onshore companies successfully working for such a long time. In 2007, there were 53,988 dissolutions registered in the BVI, which means that the number of active BVI companies has increased by 23,034. 471 out of 404,321 active BVI companies are limited partnerships. The following table shows dynamics of BVI company formation in the BVI for last 5 years.

YearBVI companies incorporated in particular yearTotal number of BVI companies at the end of year
2002
535,178
200347,734582,986
200460,668643,718
200558,337707,392
200665,284774,573
200777,022851,595

Below, you can see the chart showing dynamics of BVI company formation in the years 2002-2007, and the total amount of entities registered in the offshore jurisdiction by the end of each of the years.





















In 2007, there were 18% more BVI companies registered as compared with 2006. BVI company formation statistics of previous year showed 12% year-to-year increase.

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