The Virgin Islands has been added to the European Union’s “grey list” along with nine other jurisdictions in the Caribbean and elsewhere, the EU Council announced after its meeting on …
VI on board with ‘dizzying’ Russia sanctions
As Virgin Islands firms scramble to implement sanctions against Russian financial institutions and individuals in the wake of the Ukraine invasion, BVI Finance CEO Elise Donovan is clapping back at …
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BVITB request for more funds rebuffed
The head of the BVI Tourist Board told legislators last year that the agency needed $15 million to do its job in 2022, when tourism is expected to recover by …
FSC recognises digital exchange
The Financial Services Commission has announced that an Asian exchange focusing on digital securities has been admitted to the territory’s list of recognised exchanges. It’s the latest move in an …
After inquiry, what’s next?
As Premier Andrew Fahie ushered the Integrity in Public Life Act through the House of Assembly in December, he insisted that no one had forced his government to bring forward …
A day charter boat with history
As the Anne Bonny drifts past the cruise pier, an ethereal female voice pours out of the speakers: “Villainous, infamous, Anne Bonny…”. Next to the massive, gleaming cruise ships moored …
Report: Virgin Islands to be grey listed
Government is monitoring reports that the Virgin Islands will be added to the European Union’s grey list of “non-cooperative tax jurisdictions” along with Bermuda, Israel, Russia and others, Premier Andrew …
Online work permit system on hold
The online work permit system at the Department of Labour and Workforce Development has gone offline indefinitely, according to a government bulletin released on Monday. The announcement came amid an …
CDB: Service economies to grow 4.8% in 2022
The Caribbean Development Bank is projecting gross domestic product growth of 9.1 percent across its 19 borrowing member countries in 2022, accelerating the regional economic recovery that started last year. …
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Overnight arrivals dropped in 2021
New tourism numbers are in for 2021: About 50,000 overnight guests arrived on Virgin Islands shores in all of 2020. The fall is dramatic when compared to previous years. Before …
CDB: Paraquita grid could be regional model
A planned solar P/V microgrid project in Paraquita Bay could serve as a model for similar renewable energy products throughout the Caribbean, according to Daniel Best, the Caribbean Development Bank’s …
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ITA to be fully staffed soon, director says
The International Tax Authority will finally be fully staffed when another six employees join the ballooning department to help it handle the tax information requests that have flooded in since …
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Charter ‘communication gap’ criticised
There is a “communication gap” between the Virgin Islands Shipping Registry, Her Majesty’s Customs and the public, according to Natural Resources, Labour and Immigration Minister Vincent Wheatley. During the Standing …
Incorporation gains explained in SFC
Last year was a “fantastic year” for Virgin Islands financial services, according to Simon Filmer, a BVI Finance board member and managing director of Vistra. Speaking to the Standing Finance …
Trade boss: NDP biz loan programme flopped
Despite considerable interest from entrepreneurs, government has no plans to enact another low-interest loan programme for small businesses after the previous programme collapsed following Hurricane Irma, according to Karia Christopher, …
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VI electricity costs near region’s average
Recent studies of global broadband and mobile data pricing from United Kingdom-based telecommunications provider Cable.co.uk haven’t turned out well for the Virgin Islands, which has consistently shown to have some …
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All VI laws to be posted online, AG says
Government is finalising an “accessibility of the laws” scheme that will consolidate Virgin Islands legislation on a website on an ongoing basis, Attorney General Dawn Smith said during the closed-door …
VI lags region in tourism recovery
Even as the Virgin Islands tourism industry experiences a rebound following the height of the Covid-19 pandemic, numbers released last month reveal that the territory underperformed the Caribbean as a …
2017 gov’t audits promised soon
The Office of the Auditor General has received and reviewed the Treasury Department’s financial statements for 2017 and hoped to have long-delayed audits for that year completed in 2021, Auditor …
Online system now limited to new work permits
The much-touted online work permit system has gone partially offline again after launching less than six months ago, acting Labour Commissioner Michelle McLean said last month. Effective Dec. 15, the …
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19 firms apply to build microgrid
Despite technical glitches during a public opening ceremony on Friday, the BVI Electricity Corporation received 19 applications for pre-qualification for a proposed Caribbean Development Bank funded microgrid project in Paraquita …
Q3 incorporations up again
Incorporations soared in the third quarter of 2021, continuing a turnaround that began early last year. More new companies formed in the Virgin Islands in Q3 than in any quarter …
TRC plans to change licensing rules
A requirement to administer telecommunications businesses locally — as well as the removal of provisions for obsolete technologies like payphones — may be part of revised licensing requirements as the …
Crowley cuts back, but VI safe for now
The maritime shipping giant Crowley has pulled out of parts of the Leeward Islands, but it will continue to serve the Virgin Islands, a company spokesman told the Beacon this …
HOA passes integrity act
A bill designed to strengthen governance in the territory passed through the House of Assembly unanimously on Wednesday, Dec. 22 with amendments. “No one has forced this government to bring …