Financial Services Statistics Published for the First Quarter of 2017

The BVI Financial Services Commission has published the forty-sixth volume of its Quarterly Statistical Bulletin, providing important statistics, analysis and information on financial services in the British Virgin Islands in the first quarter of 2017. In this period, 8695 new business companies were incorporated in the jurisdiction, compared to 7,780 companies registered in the fourth quarter of 2016, and 9,456 new companies in the first quarter of the previous year. Cumulative number of BC's incorporated in the British Virgin Islands as at 31 March 2017 was 431,776. 

Also, according to the statistics of the Registry of Corporate Affairs, in the reported period 32 Private-Trust Companies and 16 Limited Partnerships were registered (27 and 20, respectively, in the same period of 2016). 

In the Insolvency Services sector, 26 fully licensed Mutual Funds were incorporated or re-registered in the first quarter of 2017. In the Insurance Services, total number of insurers as at March 31, 2017 was 172, this figure including captives and domestic.

In the sphere of International Co-operation, there were 169 enforcement matters and 16 enforcement investigations reported. 87 ongoing supervision matters were referred to LSC and related to Banking, Insolvency and Fiduciary Services, 79 were related to Investment Business, and 56 related to Insurance. Other statistics and information can be found on http://www.bvifsc.vg/.