Tuesday, 2 February, 2016

The Offshore Industry In 2020: The BVI and the rise of super jurisdictions

For the sixth year running, the BVI has been ranked the most important jurisdiction in OIL’s Offshore 2020 market research. Since the study began in 2010, stakeholders rank the BVI as the most important jurisdiction today, but expect Hong Kong and Singapore to become the most important jurisdictions within the next five years (with the BVI and the Cayman Islands ranked third and fourth respectively). 

This reflects industry sentiment that by 2020, business will move towards midshore jurisdictions, which have traditional offshore benefits as well as onshore credibility. However, it is clear that the BVI and the Cayman Islands will continue to be fundamental to the offshore industry. 

Despite increasing competition from midshore to super jurisdictions, quality traditional offshore jurisdictions still have a significant hold in the industry and this will continue to be the case through to 2020. 

OIL believes that the offshore industry serves as the plumbing of integrated modern global economies and that by 2020, the offshore industry will be a leaner, more resilient and more confident member of the global economy. 

The article “The Offshore Industry In 2020: The BVI and the rise of super jurisdiction” was featured in the Business BVI January 2016 edition. Click here for the full article.

BVI and super jurisdictions