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Caribbean IFCs: facing headwinds

Countering negative perceptions

The British Virgin Islands (BVI) is widely recognised as one of the world’s leading IFCs for incorporation of companies. As of 2019, around 400,000 companies reportedly had global assets of around US$1.5 trillion. By way of comparison, the numbers incorporated in the UK, Hong Kong, and the US state of Delaware are around 3.9 million, 1.3 million, and 1.2 million respectively. The numbers of companies being incorporated in the BVI has been falling over recent years – and especially in the wake of the making public of massive amounts of previously confidential information in the Panama Papers episode of April 2016.

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