Offshore Company Market recovery
Two Internet stories relating to the Appleby Reports Offshore Incorporation Activity posting on iNews Cayman Nov 13th 2012. See http://www.ieyenews.com/2012/11/appleby-reports-offshore-incorporation-activity-2/ and http://www.ieyenews.com/2012/11/appleby-reports-offshore-ma-activity-for-q3-2012/
| Signs of buoyancy in offshore sector |
| Don Burgess, BDA SunTUESDAY, NOV. 13: Signs point to the markets recovering from the low of 2009.
Appleby, a legal, fiduciary and administration services company, said the number of worldwide offshore companies being registered in the first half of 2012 was up nine per cent from the previous six months. The findings are part of the firm’s inaugural On the Register report, which provides insight and data on company incorporations in offshore financial centres. The report concludes that jurisdictions such as the British Virgin Islands, Cayman Islands and Mauritius likely will continue to remain attractive destinations for registering offshore businesses. Globally, offshore new company registrations are slowly returning to the levels that were seen before the global recession. However, the report, which looks primarily at data for the first six months of 2012, sounds a cautionary note that there is still some volatility in the marketplace. For example, the number of new offshore company incorporations in the first half of 2012 represented a decrease of 4 per cent on the same period a year earlier. The report takes a look at incorporations in the British Virgin Islands, Cayman Islands, Bermuda, the Crown Dependencies, Mauritius and Seychelles, and also provides insights into how activity in these jurisdictions compares to financial centres such as the UK and Hong Kong. Rory Gorman, managing director of Appleby Services (Bermuda) Ltd., said in a press release: “Offshore jurisdictions remain pretty optimistic that they have a strong value proposition and remain attractive destinations for registering businesses. “A number of the offshore jurisdictions are showing a clear positive direction, with year-on-year increases in registration activity since 2009.” While the number of new company registrations grew in the first half of 2012, with 41,556 new offshore incorporations, the report notes that the total number of active companies is actually down four per cent from 833,086 in December 2011 to 801,168 through June 2012. The jurisdiction that is dominating offshore new company registration activity by volume is the British Virgin Islands, which has consistently maintained a six-fold lead ahead of its nearest comparator, the Cayman Islands. The Cayman Islands is the fastest growth jurisdiction for new registrations, with a 13 per cent increase since the previous six months. The report said Bermuda remains an attractive place to incorporate with the number of new company incorporations maintaining a reassuringly steady flow over the last three years. The UK and Hong Kong as onshore comparators, are showing signs of continued recovery with both annual registrations and total active companies showing year on year improvement. And the projected figures for the UK are looking to be 200,000 more active companies at the end of the year compared to 12 months previously. |
For more on this story go to:
http://bermudasun.bm/main.asp?SectionID=72&SubSectionID=205&ArticleID=61696
The Low-Down On What’s Been Going On With Offshore Company Incorporations This Year
By Linette Lopez, businessinsider
Everyone and everything took a hit when the market crashed in 2008, that includes the folks who set up companies in places like the Cayman Islands, the British Virgin Islands and Seychelles.
So if we’re going to get a full picture of the global country, we’ve got to delve into that sometimes secretive world of off-shore incorporation.
Luckily, there are people who look into that sort of thing — Appleby Group, the world’s biggest provider of legal, fiduciary and administrative services to offshore companies. They just released a report called ‘On The Register’ about offshore company incorporation for the first half of 2012.
The big takeaway from this report is that there’s some volatility in this sector, but things are looking up. Incorporation activity for the first half of 2012 is up 9% compared to the last half of 2011 — 41,556 companies were started. Still, that’s down 4% from the first half of 2011.
A good first half of 2011 and a lackluster second half? See, offshore incorporators are just like us.
Here are few more interesting facts about where and how offshore companies are starting.
- The Cayman Islands continue to be the favored destination for offshore companies, showing an upward trend of 13% since 2H 2011. The Caymans are rebounding from the crisis better than any place else.
- The British Virgin Islands (BVI) come in 2nd, with an upward trend of 10% since 2H 2011. Despite their number 2 growth status though, in 1H 2012, BVI had the most incorporations, 33,065.
- The Seychelles, off the coast of Africa, is the upstart of the group, having seen a growth in activity of 20% since 2010.
- The projected figures for the UK are 200,000 new companies by the end of this year.
Now doesn’t that make you feel better about the global economy?
For more on this story go to: http://www.businessinsider.com/offshore-company-incorporations-in-2012-2012-11#ixzz2CDC9sNCO
