Twelth Statistical Bulletin Published by the BVI FSC
The BVI Financial Services Commission has issued the twelfth volume of its Quarterly Statistical Bulletin, which includes information on the situation in the BVI financial services industry in the third quarter of 2008. The Commission reports on the progress made in different sectors of the BVI financial services industry, and provides new statistical data and analysis.
By the information of Registry of Corporate Affairs, in the third quarter of 2008 there were 16,133 new incorporations. This is less than 20,595 companies incorporated in the third quarter of 2007, but a little more than the number of new BVI companies registered in the second quarter of 2008. Cumulative amount of active companies as of 30 September 2008 was 461,998. This chart below shows the number of new companies incorporated in BVI through the third quarter periods of 2002-2008:
Banking and Fiduciary Services sector showed little changes compared to the second quarter of 2008, and to the third quarter of the previous year. Banking Sector statistics showed the percentage of liquid assets as 44.78% of total deposits, the number of non-performing loans made 3.12% of the total amount of loans, and total assets amount made more than 2 million USD.
Among other data shown in the Bulletin, there is Quarterly Post Incorporation Transactions Statistics for the period, showing the volume of activity of the BVI companies. The Quarter 3 2008 Post Licensing Transactions Statistics included information on the activities of the newly incorporated entities, i.e. the appointment of directors (39), change of authorised agent number, change of auditor (3), change of shareholding/ownership (1).
The Investment Business/Mutual Funds Sector provided information on new licences and certificates issued in the third quarter 2008, according to which 14 new licences were issued in this period (compared to 26 in the same period of 2007 and 10 in Q2 2008). Cumulative number of licences as of September 30 2008 was 576. Also, at the end of this period the share of Professional Active Mutual Funds was 64%, Private Mutual Funds making 28%, and Public Funds making 8% of the total amount.
In the field of Legal and International Co-operation, following figures were reported:
25 formal requests for international co-operation matters (requiring non-public information disclosure) – compared to 15 formal requests in Q2 2008, and 14 requests in Q3 2007. There were 39 enforcement matters in the reported period (27 in the second quarter of 2008, and no as such in the third quarter of 2007).
By the information of Registry of Corporate Affairs, in the third quarter of 2008 there were 16,133 new incorporations. This is less than 20,595 companies incorporated in the third quarter of 2007, but a little more than the number of new BVI companies registered in the second quarter of 2008. Cumulative amount of active companies as of 30 September 2008 was 461,998. This chart below shows the number of new companies incorporated in BVI through the third quarter periods of 2002-2008:
Banking and Fiduciary Services sector showed little changes compared to the second quarter of 2008, and to the third quarter of the previous year. Banking Sector statistics showed the percentage of liquid assets as 44.78% of total deposits, the number of non-performing loans made 3.12% of the total amount of loans, and total assets amount made more than 2 million USD.Among other data shown in the Bulletin, there is Quarterly Post Incorporation Transactions Statistics for the period, showing the volume of activity of the BVI companies. The Quarter 3 2008 Post Licensing Transactions Statistics included information on the activities of the newly incorporated entities, i.e. the appointment of directors (39), change of authorised agent number, change of auditor (3), change of shareholding/ownership (1).
The Investment Business/Mutual Funds Sector provided information on new licences and certificates issued in the third quarter 2008, according to which 14 new licences were issued in this period (compared to 26 in the same period of 2007 and 10 in Q2 2008). Cumulative number of licences as of September 30 2008 was 576. Also, at the end of this period the share of Professional Active Mutual Funds was 64%, Private Mutual Funds making 28%, and Public Funds making 8% of the total amount.
In the field of Legal and International Co-operation, following figures were reported:
25 formal requests for international co-operation matters (requiring non-public information disclosure) – compared to 15 formal requests in Q2 2008, and 14 requests in Q3 2007. There were 39 enforcement matters in the reported period (27 in the second quarter of 2008, and no as such in the third quarter of 2007).
Labels: BVI Companies, BVI Financial Services Comission, Financial Services, Offshore Companies, Statistics
posted by Brian Obvi, Offshore Analyst | 6:40 PM
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