Incorporations increase in Crown Dependencies with Jersey up 7%

Monday 18 August 2014

New company registrations increased in most offshore jurisdictions in the second half of 2013, according to Appleby.

In total, there were 44,615 new offshore company incorporations in the second half of 2013, and the total number of active companies rose to 671,000, according to the firm’s On the Register report, which provides insight and data on company incorporations in offshore financial centres and is focused primarily on the second half of 2013.

All three Crown Dependencies increased their incorporation activity in the second half of the year with new incorporations making up 8-9% of their local registers.

Partner and Global Head of Fiduciary & Administration Services Farah Ballands said: “As the global economy follows a path to recovery, offshore company registration data reveals that levels of new company registrations are up in most jurisdictions during the second half of 2013, with increases of between 5% and 10%.”

Jersey added 2,517 new companies to the register in 2013, including 1,302 in the second six months of the year, an increase of 7% over the first six months. Jersey’s register has remained incredibly stable, hovering around 32,500 for the last three years, the report found.

However, the Isle of Man and Guernsey revealed the largest increases in new company incorporations across offshore jurisdictions at 10% and 9%, respectively, when compared to the previous six months.