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Welcome to the Q2 edition of our quarterly BVI Corporate Review for 2026, covering recent developments in the British Virgin Islands and continued robust activity in the jurisdiction.
In this period, Conyers’ BVI corporate legal team advised on a range of significant transactions and continued to support clients amid record-breaking growth.
Market Developments
The British Virgin Islands recorded its strongest first quarter for new company incorporations since 2022, according to recent data published by BVI Finance and the Financial Services Commission. A total of 7,671 new companies were incorporated in Q1 2026, representing an increase of approximately 10% compared to the same period in 2025 and continuing a broader upward trend in activity.
This performance marks one of the strongest quarterly results in recent years and underscores continued global confidence in the BVI as a leading international finance centre. As at 31 March 2026, the total number of active companies on the register stood at 362,165, demonstrating the jurisdiction’s scale and resilience.
The sustained growth in incorporations reflects ongoing demand from international businesses, investors and advisers for BVI structures to facilitate cross-border investment and transactions. The figures highlight the jurisdiction’s enduring appeal and its ability to support complex global activity.
Alongside company formations, the investment funds sector remains a key pillar of the BVI’s offering, with 2,242 registered funds at the end of Q1 2026.
Headline Transactions
Among deal highlights this quarter, Conyers advised the shareholders of Serra Verde Group, a Brazil-based rare earths producer, on entering a definitive agreement to be acquired by USA Rare Earth in a transaction valued at approximately US$2.8 billion, making it the largest rare earths M&A deal to date in Latin America. Notably, the acquisition will be implemented by way of BVI statutory merger.
The firm also acted as BVI legal counsel to Fortescue, a global metals and energy company, in connection with the BVI aspects of its public acquisition of Alta Copper Corp., a Canadian mining company, a deal valued at approximately US$100 million. Partner Anton Goldstein and Associate Jack Irwin of Conyers’ BVI office advised on the Fortescue transaction.
Spotlight: BVI Real Estate Finance
Conyers’ BVI team has deep experience and capabilities in the area of real estate finance. Please reference our BVI Real Estate Finance Brochure for a practical overview of the team’s work in the sector. Conyers has been involved in a number of high-profile real estate transactions, including:
- Elephant & Castle Shopping Centre
- 20 Canada Square, Canary Wharf
- Battersea Power Station
- 30 St Mary Axe (The Gherkin)
- Camden Market
Incorporation Statistics
To provide a snapshot of market activity, we include the latest available incorporation and funds statistics. New BVI company formations in Q1 2026 totalled 7,671, an increase of approximately 10% compared to Q1 2025 (6,971). As of 31 March 2026, the total number of active BVI business companies on the register were 362,165. Meanwhile, the BVI’s investment funds sector continues to be substantial, with 2,242 registered investment funds at Q1 2026’s end. These figures help contextualise the continued strength and dynamism of the BVI corporate sector as we move into the second half of 2026.
Source: BVI FSC Statistical Bulletin Q1 2026
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