In an increasingly competitive and changing market, the British Virgin Islands ("BVI") continues to attract offshore finance and commerce and maintains its status as the leading offshore corporate domicile.
As of April, 2001 over 436,000 International Business Companies have been incorporated in the Territory, approximately 60,000 of which were incorporated in the previous year. Following the success of the Mutual Funds Amendment Act, the BVI is now considered a premier offshore jurisdiction for Mutual Funds with 1,930 Mutual Funds recognised or registered in the BVI. The BVI has also witnessed tremendous growth in the offshore insurance sector and now has 234 licensed Insurance Companies, comprising 150 Captive Insurance Companies, 54 Credit Life Companies and 30 Domestic Insurance Companies. In addition the Territory has 14 licensed Banks and 73 licensed Trust and Management companies.
