Wednesday, July 06, 2016

BVI FSC Published Statistical Bulletin for Q1 2016

The BVI Financial Services Commission has published the forty-second volume of its Quarterly Statistical Bulletin, providing figures and information on financial services industry in the jurisdiction in Q1 2016. According to the statistics published by the Registry of Corporate Affairs, in the announced period there were 9,456 new companies incorporated, along with 27 Private Trust Companies and 20 Limited Partnerships. The number of company incorporations is higher than in the previous quarter (Q4 2015) but lower than in the first quarter of 2015. Cumulative number of companies incorporated as at 31 March 2016 was 466,081. At that moment, there were also 1,112 Private Trust Companies and 780 Limited Partnerships registered in the BVI.

In Investment Business, 5 new Investment Business Licences were granted in the first quarter of 2016, and cumulative number of Investment Business Licences achieved 467 as at 31 March 2016. Also, 8 Professional Mutual Fund and 4 Private Mutual Fund Licences were granted in the reported period. In the first quarter of 2016, there were 23 fully licences Insolvency Practitioners in the jurisdiction.

According to Legal and Enforcement and International Cooperation statistics, there were 52 formal and 5 informal requests in the first quarter of the year, 47 Enforcement Matters and 21 Enforcement Investigations. 

In 2016, seven Trade Marks Agents were registered in the British Virgin Islands, of them 3 Individual and 4 Partnership Agents. In the first quarter of 2016, 78 new Trade Marks applications were registered in the jurisdiction.

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