The global Covid-19 crisis is slowing the ongoing implementation of “economic substance” rules that affect international financial centres, but this delay may result in a more considered strategy and rollout, …
July 8, 2020
June 24, 2020
Hospitality industry demands border info
With no confirmed date for the full reopening of the borders and no stated protocols in place for tourist arrivals in the midst of the Covid-19 crisis, the approximately 140 …
June 11, 2020
Pandemic could cause rise in fraud cases in VI
The economic fallout from the Covid-19 crisis has sent businesses across the globe reeling — and fraudulent businesses are no exception, Virgin Islands based asset recovery lawyer Martin Kenney said …
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June 7, 2020
Digicel: US bankruptcy filing won’t impact operations
A Digicel Group affiliate has filed for Chapter 15 recognition in a federal bankruptcy court in New York, but company officials described the move as an administrative proceeding that won’t …
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May 29, 2020
Caribbean islands prepare for tourism
When the doors of the Virgin Islands reopen to tourism, the territory’s leaders say, they intend to be ready. Some competing countries and territories in the region have announced plans …
May 26, 2020
How to communicate in a pandemic
Circumstances have changed dramatically for Virgin Islands businesses in recent weeks due to the coronavirus pandemic. Some may have gone from encouraging employees to work from home to shutting down …
May 26, 2020
New EU rules to combat money laundering
In response to outcry from several countries, the European Commission published a new anti-money-laundering action plan this month and added 12 more countries to its AML blacklist. The addition of …
May 22, 2020
Government crypto partner declares closure, then quickly retracts
LIFELabs, a United Kingdom-based cryptocurrency company that partnered with the Virgin Islands government last year with plans to develop a digital currency known as BVI~LIFE, said last week that it …
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May 21, 2020
Caribbean e-commerce gets a boost from Covid
The coronavirus lockdowns have highlighted the Caribbean’s struggles to implement e-commerce solutions, but they have also presented an opportunity for innovation, according to a Zoom panel made up of owners …
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May 18, 2020
In trying times, restaurants rally
The restaurant industry, which has been hit hard during the coronavirus pandemic, is struggling back to life as the economy reopens. But even as takeout and delivery becomes ubiquitous throughout …
May 12, 2020
Many charter boats calling it a season
With the borders still closed due to the Covid-19 pandemic, what remains of the Virgin Islands’ yachting season is looking like a wash for some charter companies and crew who …
May 6, 2020
Branson offers Necker as collateral
Sir Richard Branson wants a $500 million bailout for Virgin Atlantic from the United Kingdom government, and after the request drew criticism he offered up Necker Island as collateral. “Over …
May 1, 2020
Chamber offers ideas to help businesses
With much of the economy still shut down, how do employers pay laid-off work permit holders so they can survive and stay in the territory? Why can’t businesses that don’t …
April 17, 2020
Amid pandemic, tourism stalls
Nearly two and a half years after Hurricane Irma, tourism in the Virgin Islands was back. Hotel rooms were full, cruise cabins were packed, charter yachts were booked solid. Then …
April 13, 2020
Law helps financial services shift abroad in crisis
A law rushed through the House of Assembly last month and Gazetted last Thursday is designed to help the financial services industry continue to work remotely in exceptional circumstances, such …
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April 6, 2020
Businesses retool products to fight virus
For Linda Phillips of Doyle Sailmakers, the coronavirus pandemic has meant learning an entirely new skill. The company is now producing face masks to help health care workers and patients …
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April 2, 2020
Don’t overbuy, warn supermarkets
Supermarkets in the territory will be able to restock shelves during the ongoing lockdown and are not in danger of running out of essentials, according to supermarket personnel and a …
March 31, 2020
Financial services adapt to ‘social distancing’
For financial services firms now compelled to conduct most or all of their business virtually due to the global coronavirus pandemic, the Virgin Islands is an ideal place to do …
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March 26, 2020
Banks roll out flexible payments, safety measures
Virgin Islands banks are taking “proactive steps” to help customers struggling through the global coronavirus pandemic, according to a statement issued Friday by the seven-member BVI Bank Association. This might …
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March 19, 2020
Businesses learn how to cope with virus
Hand sanitiser may be scarce on Virgin Islands store shelves, but public health personnel have a message for business owners seeking to protect staff and customers from contacting the deadly …
March 13, 2020
Pier Park braces in case of virus
On Tuesday at the Cyril B. Romney Tortola Pier Park, the doors of shops and restaurants were flung wide open to the roughly 4,000 passengers aboard the Disney Fantasy moored …
March 9, 2020
Panel seeks to demystify bank loans
In these days of increased regulations and enhanced due diligence, applying for a bank loan can be dizzying. But five bankers were on hand to demystify the process for nearly …
March 9, 2020
Answers on Tortola Pier Park customs duty raise questions
Last week Premier Andrew Fahie provided some previously missing data on the amount of revenue the Customs Department collected from licensed duty-free merchants at the Cyril B. Romney Tortola Pier …
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March 3, 2020
Beer designed to be VI’s ‘own’
When Robin Periana and Mike Kyne began exploring the Virgin Islands, hoping to find a place to begin new chapters of their lives, it didn’t take long before a business …
February 27, 2020
New, reopening restaurants show off at fundraiser
With new ingredients, new facilities, new locations and new personnel, many of the businesses that showcased their wares at the annual Governor’s Gourmet Gathering on Friday agreed with Bitter End …
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