Some of the world’s top asset-recovery lawyers were among more than 100 people from about 30 countries who gathered at Scrub Island Resort last week for a global anti-fraud conference …
April 25, 2024
April 22, 2024
2023 incorporations hit 25-year low
The number of new companies incorporated in the Virgin Islands in 2023 slumped to its lowest level for 25 years, new figures show. The tally for the final quarter of …
April 19, 2024
Smith hits back after Labour MP’s ‘dirty money’ claims
Deputy Premier Lorna Smith pushed back this week after the Virgin Islands and other overseas territories were accused of deliberately defying the British parliament’s attempts to crack down on “dirty …
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April 16, 2024
‘No great rush’ on Global Minimum Tax
The Virgin Islands expects the next United Kingdom government to respect its decision on whether to sign up for the Global Minimum Tax initiative, Deputy Premier Lorna Smith said April …
April 15, 2024
All labour processes to go online
The government’s first online work-permit system shut down in February 2022 after barely six months in operation. Now, officials are trying again. Work-permit processing and private-sector job applications will be …
April 15, 2024
Smith: Money-crime report not ‘damning’
The Virgin Islands is not facing a crisis in combating financial crime despite a recent report by international watchdogs which some experts viewed as scathing, Deputy Premier Lorna Smith said …
April 12, 2024
Minimum wage boost is ‘likely,’ Smith says
The $6-per-hour minimum wage is “likely” to increase after the findings of a committee reviewing the matter are presented to government by the end of the month, according to Deputy …
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March 18, 2024
Money-laundering review rates VI below rivals
Compared with at least two overseas territories that operate rival financial industries, the Virgin Islands still has a “mountain to climb” when it comes to proving its effectiveness in combating …
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March 13, 2024
A new UK gov’t could press VI to adopt global tax
Pressure could be brought down on the Virgin Islands to bring in the 15 percent Global Minimum Tax on multinational giants if there is a change of United Kingdom government …
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March 11, 2024
Virgin Islands urged to up vigilance against terrorism financing
The Virgin Islands should take tougher action to mimimise the threat of terrorist financing, according to a recent review of its systems to prevent financial crime. The mutual evaluation report …
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March 1, 2024
National Emergency Operations Centre delays blamed on Ukraine war and Covid
The construction of the new National Emergency Operations Centre in McNamara was delayed by issues associated with the Covid-19 pandemic and Russia’s invasion of Ukraine, but the project should be …
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February 29, 2024
Money laundering report brings threat of ‘grey list’
A major international report released Monday raises serious concerns about the territory’s ability to deal with money laundering and other financial crime, leading one expert to warn that “red lights” …
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February 26, 2024
Call made for unemployment benefits
Unemployment benefits are needed in the Virgin Islands because people are “suffering,” the opposition has warned. Deputy Speaker Stacy Mather sounded the alarm while questioning Health and Social Development Minister …
February 23, 2024
Sex-crime law promised this year
A new law slated to pass this year will help protect children from sexual predators by implementing measures including a sex-offender register, according to Health and Social Development Minister Vincent …
February 12, 2024
Peter Island blames Covid for rebuild delays
The Covid-19 pandemic was to blame for the four-year delay in reopening Peter Island Resort, operators told the Beacon. The upmarket tourist property has been shuttered since sustaining heavy damage …
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February 10, 2024
House of Assembly re-forms Commission of Inquiry committee
Following harsh criticism from United Kingdom officials over delayed Commission of Inquiry reforms, the House of Assembly has renewed a committee tasked with overseeing legislative initiatives recommended by the COI. …
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February 2, 2024
Ex-minister says United Kingdom fell ‘short’ on overseas territories
LONDON — Britain has “fallen short” in the way it deals with the Virgin Islands and other overseas territories, former United Kingdom OT Minister Lord Zac Goldsmith has warned. In …
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January 30, 2024
As global tax launches, impact here unclear
A worldwide tax crackdown aimed largely at giant multinationals is taking effect, but the financial impact on the Virgin Islands remains unclear, experts have said. Advocates of the Global Minimum …
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January 26, 2024
Peter Island Resort to reopen this year
After a protracted rebuild following the hurricanes of 2017, the landmark Peter Island Resort will reopen in time for the next tourism season, operators announced last week. The upmarket holiday …
January 18, 2024
OECS blasts governor’s request for new powers
The Organisation of Eastern Caribbean States and several British overseas territories have strongly condemned Governor John Rankin’s request to the United Kingdom government for extra powers that he claimed are …
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