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Written by
CLAIRE SHEFCHIK

January 17, 2023

Shipping Registry still aims to be statutory body

The Virgin Islands Shipping Registry still plans to transform into a statutory body, but it has not yet done so, VISR Director John Samuel told the House of Assembly in …

Continue reading “Shipping Registry still aims to be statutory body”

by CLAIRE SHEFCHIK
December 16, 2022

Virgin Gorda resort offers int’l copter flights

Oil Nut Bay announced recently that it has begun offering its guests direct helicopter service to St. Thomas and San Juan after its heliport became “the first in the British …

Continue reading “Virgin Gorda resort offers int’l copter flights”

by CLAIRE SHEFCHIK
November 24, 2022

BVIF-funded report touts financial industry

As part of ongoing efforts to market the territory’s financial industry, BVI Finance has commissioned a new report that touts the sector’s contributions and explores how it may adapt to …

Continue reading “BVIF-funded report touts financial industry”

by CLAIRE SHEFCHIK
November 24, 2022

VI and USVI reach new deal for boats

A new agreement between this territory and the United States Virgin Islands will allow charter boats to travel more freely between the two archipelagos, according to Premier Dr. Natalio “Sowande” …

Continue reading “VI and USVI reach new deal for boats”

by CLAIRE SHEFCHIK
November 24, 2022

EU court deals blow to public registers

The European Union Court of Justice issued a ruling this week that could throw a wrench in the United Kingdom’s longstanding plan to force the Virgin Islands and other overseas …

Continue reading “EU court deals blow to public registers”

by CLAIRE SHEFCHIK
November 16, 2022

Arbitrators aim for balance amid sanctions

With more than $400 million of assets in the Virgin Islands frozen in the wake of sanctions related to the Russian invasion of Ukraine, even many unsanctioned Russians are finding …

Continue reading “Arbitrators aim for balance amid sanctions”

by CLAIRE SHEFCHIK
November 16, 2022

Investment Club marks 30

Former Bermuda Premier Sir John Swan urged the Virgin Islands to “guard against selling off its dreams in the quest for quick capital” as he addressed the 30th anniversary dinner …

Continue reading “Investment Club marks 30”

by CLAIRE SHEFCHIK
November 8, 2022

Rymer promises Market Square next year

When government officials broke ground on the Market Square revitalisation in October 2020, they said the project would be completed in about nine months. That didn’t happen, but completion is …

Continue reading “Rymer promises Market Square next year”

by CLAIRE SHEFCHIK
November 7, 2022

$600k microgrid to be tendered soon

Tender documents are being developed for release to seven companies that pre-qualified to bid on the Paraquita Bay solar microgrid project announced last year, Deputy Premier Kye Rymer said last …

Continue reading “$600k microgrid to be tendered soon”

by CLAIRE SHEFCHIK
November 4, 2022

Gov’t still pushing for runway expansion

Airlift to the Virgin Islands may eventually get easier and more affordable with the addition of direct flights to the mainland United States if Deputy Premier Kye Rymer’s recent conversations …

Continue reading “Gov’t still pushing for runway expansion”

by CLAIRE SHEFCHIK
October 27, 2022

VI’s vice chairmanship of UN committee ends

This month, the Virgin Islands completed its vice chairmanship of the Caribbean Development Cooperation Committee, a subsidiary body of the United Nations Economic Commission for Latin America and the Caribbean. …

Continue reading “VI’s vice chairmanship of UN committee ends”

by CLAIRE SHEFCHIK
October 24, 2022

Bill is another step toward deposit insurance

An amendment before the House of Assembly would bring the territory one step closer to setting up a long-promised system of deposit insurance in the territory. The amendment to the …

Continue reading “Bill is another step toward deposit insurance”

by CLAIRE SHEFCHIK
October 21, 2022

Gov’t Programme Hands over 18th Home

More than five years after Hurricane Irma, another resident has received a brand-new home to replace the one she and her family lost in the 2017 storms, government announced. Thanks …

Continue reading “Gov’t Programme Hands over 18th Home”

by CLAIRE SHEFCHIK
October 21, 2022

Friendship Day to return on Saturday

A celebration marking the 50th anniversary of British Virgin Islands-United States VI Friendship Day will be held at 10 a.m. on Saturday at the Cyril B. Romney Tortola Pier Park …

Continue reading “Friendship Day to return on Saturday”

by CLAIRE SHEFCHIK
October 17, 2022

Why celebrities need help with finances

Celebrity finances are frequently in the news, for reasons from bankruptcy to tax trouble to messy divorces to squabbles over estates. Lawyer, businessman and author Martin Litwak, founding partner of …

Continue reading “Why celebrities need help with finances”

by CLAIRE SHEFCHIK
October 17, 2022

Bill includes framework for deposit insurance

An amendment currently before the House of Assembly seeks to give the Financial Services Commission more tools to handle banking crises and would set a long-awaited framework to bring into …

Continue reading “Bill includes framework for deposit insurance”

by CLAIRE SHEFCHIK
October 10, 2022

Incorporations fall hard in Q2

Incorporations toppled in the second quarter, suggesting that 2022 won’t reach the heights of 2021, according to the latest quarterly report from the Financial Services Commission. Q2 2022 saw just …

Continue reading “Incorporations fall hard in Q2”

by CLAIRE SHEFCHIK
October 6, 2022

BVIEC to get $240k grant from EU

The BVI Electricity Corporation has been awarded €245,481 (about $241,000) from the European Union to improve its ability to keep the power on during pandemics and other “extreme and recurrent” …

Continue reading “BVIEC to get $240k grant from EU”

by CLAIRE SHEFCHIK
October 4, 2022

Financial Services Commission approves digital asset exchange

Global digital asset service provider Huobi announced that it has secured approval from the Financial Services Com￾mission to operate an exchange for cryptocurrencies and other virtual assets under its subsidiary …

Continue reading “Financial Services Commission approves digital asset exchange”

by CLAIRE SHEFCHIK
October 4, 2022

Tourism, tech on agenda at Inter Virgin Islands Council

The first formal meeting since 2020 between the governments of this territory and the United States Virgin Islands resulted into boost the tourism and marine industries and improve wireless technology. …

Continue reading “Tourism, tech on agenda at Inter Virgin Islands Council”

by CLAIRE SHEFCHIK
September 28, 2022

Region warned to cut airfare taxes

Even as travel bounces back post-pandemic, Caribbean destinations risk pricing themselves out of the market if they don’t find a way to lower taxes and fees on airline tickets and …

Continue reading “Region warned to cut airfare taxes”

by CLAIRE SHEFCHIK
September 28, 2022

Barbados PM denounces ‘biased’ de-risking

Barbados Prime Minister Mia Mottley urged the United States House of Representatives Financial Services Committee earlier this month to discourage US banks from ending correspondent banking relationships with the Caribbean. …

Continue reading “Barbados PM denounces ‘biased’ de-risking”

by CLAIRE SHEFCHIK
September 20, 2022

Crypto collapse ‘a chance to take stock’

The recent collapse of Virgin Islands-registered cryptocurrency hedge fund Three Arrows Capital proved to be one of the most dramatic local impacts of the massive sell-off that has been called …

Continue reading “Crypto collapse ‘a chance to take stock’”

by CLAIRE SHEFCHIK
September 14, 2022

Under fire, finance industry pushes back

The Virgin Islands financial services industry generated $196 million in revenue for the territory last year, up from $189.75 million the previous year, and kept the economy largely afloat during …

Continue reading “Under fire, finance industry pushes back”

by CLAIRE SHEFCHIK
September 7, 2022

Acts strengthen tax regulator

Two laws the House of Assembly passed in May will strengthen the powers of the International Tax Authority to inspect financial institutions and to interview people associated with Virgin Islands-registered …

Continue reading “Acts strengthen tax regulator”

by CLAIRE SHEFCHIK

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