In 2025, incorporations in the Virgin Islands surged to their highest levels in four years, new figures show.
A total of 31,134 new companies were registered in the territory last year, representing a nearly 14 percent leap over the 27,362 registered in 2024.
The 2024 numbers were themselves up by nearly 23 percent over 2023, when the tally fell to a quarter-century low of 22,317 — 45 fewer than the previous trough recorded in 2020.
The new numbers were included in the Financial Services Commission’s statistical bulletin for the final three months of last year, which showed 8,778 companies created in quarter four, up from 8,348 in the previous quarter and 1,549 over the same period in 2024.
The numbers represent good news for the incorporations sector following a long-term decline from its peak in 2007, when 77,022 companies were formed.
Total numbers
But despite the surge, the total number of companies registered in the territory — a figure that includes new incorporations but subtracts strike-offs and other removals — dropped slightly to 356,256 at the end of December.
The number at the end of 2024 was 356,675 — more than 25 percent short of the year-end peak of 481,002 in December 2011.
Diversifying
The finance sector has also been trying to widen its business base beyond incorporations in recent years by expanding into other areas such as limited partnerships and trademarks.
The final quarter of 2025 saw a leap in LPs, with 120 being created, up from 86 in the previous three months but down from the 142 formed in the corresponding period of 2024.
However, trademarks posted a strong performance in the quarter with 90 applications registered compared to 77 in the preceding quarter and 60 in Q4 of 2024.
Since the enactment of the Trade Marks Act in September 2015, a total of 2,987 new applications to register a trademark have been filed.
Recent years have seen 270 trademark applications registered in 2021; 345 in 2022; 278 in 2023; 313 in 2024 and 319 in 2025, the FSC figures show.
The commission’s numbers also showed a total of 266 matters before the Licensing and Supervisory Committee in the last three months of 2025.
The LSC grants approvals and authorisations for specified initial licensing and ongoing applications under financial services legislation.