Appleby reports on offshore recovery

The number of new offshore companies registered in the first half of 2013 increased in most jurisdictions when compared with the second half of 2012. There were 38,416 new incorporations in the first six months of this year and the overall number of active companies listed on offshore registers has stabilised, according to Appleby’s On the Register report.

Within most offshore locations, the total number of companies listed on the local register has increased since the end of 2012. The number of new incorporations across the whole offshore region has fallen slightly compared with the previous six-month period, but as the number of firms ceasing to trade has also dropped this has allowed most registries to continue to grow. Many are approaching, or have even surpassed, their pre-recession peaks.

Appleby attributed the slight fall to a seasonal dip in the British Virgin Islands, which continues to dominate new company registrations, incorporating more than six times the number of new companies than the next closest jurisdiction in the first half of this year.

Mauritius showed the biggest increase in new company incorporations, with nine per cent more added than in the second half of 2012, and it was followed by Bermuda with eight per cent.

This material was sourced from the Appleby website.

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