With a new acquisition, a yacht retailer and charter company with a base in the Virgin Islands is expanding its offerings into the luxury megayacht space. The Clearwater, Florida-based MarineMax …
Money launderers targeting hotels
Money launderers have been targeting the Virgin Islands hospitality industry, the Financial Investigation Agency warned recently. The agency’s Financial Investigation Unit issued a press release last month advising hotels, resorts …
Vendors give Festival mixed reviews
Around sunset on Sunday, July 31, in the Bernard “Yampie” Nibbs Festiville, bartender Dr. Garvin Dougan was learning how to make a new cocktail. He hadn’t heard of the combination …
HOA agrees to cut remittance tax
Cabinet’s July 20 decision to reduce the remittance tax — often criticised for targeting the territory’s poorest residents — got the green light from the House of Assembly on Tuesday. …
Bill would amend companies act
An amendment to the BVI Business Companies Act that passed last Thursday in the House of Assembly includes several provisions designed to strengthen the territory’s compliance with international standards combating …
Christmas in July draws 400 boats
On Monday, Tomas Dardet and nearly 20 of his friends and family members toured The Baths in Virgin Gorda, climbing in and out of the rock pools and exploring the …
70 officials trained for coming evaluation
As the Virgin Islands continues to prepare for the Fourth Round Mutual Evaluation next year from the Caribbean Financial Action Task Force, more than 70 representatives from government agencies and …
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Peter Island mum on re-opening
One of the Virgin Islands’ flagship resorts is still rebuilding five years after Hurricane Irma, but the owners have been tightlipped about its progress. Although Peter Island Resort and Spa …
Myett’s loses appeal to laid-off workers
The Court of Appeal has dismissed an appeal by Myett’s Enterprises Limited against a dozen former employees who lost their jobs after Hurricane Irma severely damaged the hotel and restaurant …
Global tax deal hits hurdles
A deal for a global minimum tax rate that could impact the Virgin Islands’ financial services industry is facing roadblocks in the United States and Europe, according to news reports. …
Incorporations climb in Q1
Incorporations could be on track to top last year if first-quarter trends continue, according to the latest quarterly report from the Financial Services Commission. In 2021, new incorporations in the …
VI-registered crypto fund collapses
Three Arrows Capital — a Virgin Islands-registered, Singapore-based cryptocurrency hedge fund once worth more than $3 billion in assets — rocked the crypto world on Friday by filing for Chapter …
Guv withholding some COI docs
A bundle of more than 100 supporting documents submitted to the governor with the Commission of Inquiry report — including contracts, letters, emails, minutes, memoranda and numerous other types of …
Premier defends biz licensing law
After business stakeholders raised concerns about several aspects of the Business Licensing Act passed two weeks ago in the House of Assembly, Premier Dr. Natalio “Sowande” Wheatley defended the bill …
Online tax system to launch next year
More than three years after the deputy head of the Inland Revenue Department called the agency’s computer system “outdated” and “unstable,” government is scheduled to introduce a new online tax …
‘Unfettered discretion’ out the door for grants
Assistance grants that were formerly disbursed at elected officials’ discretion will now be administered by the Social Development Department after the Commission of Inquiry blasted the existing system for a …
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HOA passes trade licence bill
A bill aimed at making the Virgin Islands business climate more competitive by updating and streamlining the licensing process passed with amendments in the House of Assembly last Thursday as …
Chamber expo promotes VI businesses
The sun blazed and tourism season was winding down, but the co-owners of Golden Journey Concierge Service were full of enthusiasm as they talked to potential customers at the Buy …
Reform plan a first for OTs
Forty-eight of 49. That’s how many Commission of Inquiry recommendations the new National Unity Government has pledged to complete over the next two years under the proposal recently agreed with …
SOL to replace Delta as BVIEC supplier
SOL will step in to provide No. 2 Diesel fuel and other services to the BVI Electricity Corporation through 2024, after the utility’s original contract with Delta Petroleum was terminated …
US hopes to seize VI-linked jets
A federal court in New York has authorised the United States government to seize two private jets collectively worth $410 million that are allegedly owned by a Russian oligarch and …
No direct rule for now as UK accepts unity government’s proposal
The wait is over. Governor John Rankin and Premier Dr. Natalio “Sowande” Wheatley announced on Wednesday morning that the United Kingdom will not suspend parts of the Virgin Islands Constitution …
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Fraser pushes for loan forgiveness
Despite government offering a variety of initiatives to help borrowers struggling financially due to the impacts of the Covid-19 pandemic, Premier Dr. Natalio “Sowande” Wheatley told the House of Assembly …
Pier park grants $1.6m in rent concessions
More than $1.6 million in rent concessions were granted to about 70 tenants at the Cyril B. Romney Tortola Pier Park between April 2020 and February 2021 to offset their …
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Tourism numbers continue to climb
Overnight tourist arrivals in the first two months of 2022 soared in comparison to the same period in 2021, with the 26,225 visitors representing the Virgin Islands’ slow climb to …