"The light that comes from wisdom never goes out"
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 …
Continue reading “Financial services adapt to ‘social distancing’”
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 …
Continue reading “Banks roll out flexible payments, safety measures”
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 …
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 …
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 …
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 …
Continue reading “Answers on Tortola Pier Park customs duty raise questions”
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 …
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 …
Continue reading “New, reopening restaurants show off at fundraiser”
The Virgin Islands is one of 16 countries and territories newly whitelisted by the European Union on Tuesday, with the reveal of the EU’s revised “white list” of “non-cooperative tax …
A few months ago, David Penn found a stranger in front of his house looking for the law firm Mourant Ozannes. Although Mr. Penn informed him he had arrived at …
Thirty Virgin Islanders have jobs because a new gas station and car wash is taking part in government’s “1,000 Jobs in 1,000 Days” programme, officials said this week. Owner Allison …
Continue reading “Plaza partners with government job effort”
Coronavirus has not arrived on Virgin Islands shores, but it may already be having an effect on one of the territory’s flagship industries. Hong Kong branches of VI financial services …
Continue reading “Coronavirus affects VI financial services”
The “Business Solutions Forum” on financial services last week was closed to the media, but BVI Finance said in a subsequent press release that the approximately 80 attendees discussed “infrastructure, …
Incorporation numbers managed a slight recovery in the third quarter of 2019, with the Financial Services Commission reporting a 9.58 percent increase over Q2’s dismal performance, which saw the lowest …
Amid further pressure from the European Union to demonstrate that companies registered here have “economic substance,” the Virgin Islands is introducing a new regulatory regime for private equity and other …
Continue reading “New class of funds targeted by economic substance law”
Government held the second of its Business Solutions Forums on Tuesday — though any ideas arising from the forums have yet to be revealed to the public. Tuesday’s forum, held …
Continue reading “Solutions Forum held for financial services”
As of November the International Tax Authority had been able to fill only 13 of the 35 positions it announced as vacant last year, despite tax information requests continuing to …
Continue reading “International Tax Authority still understaffed, director says”
Premier Andrew Fahie last week responded to the French blacklisting of the Virgin Islands, calling it a “misunderstanding” involving a delay in responding to French requests for tax information that …
Visitors to Tortola’s East End have a new lodging option with the reopening late last year of Wyndham Lambert Beach Resort, a project in the works even before Hurricane Irma …
Continue reading “Lambert resort back after more than 3 years”
Rosewood Little Dix Bay, the 55-year-old Virgin Gorda resort founded by legendary philanthropist Laurance Rockefeller, reopened last week after a four-year closure exacerbated by damage from Hurricane Irma. The 500-acre …
Continue reading “Rosewood Little Dix Bay reopens on Virgin Gorda”
Government has signed an agreement with Airbnb allowing the online booking agent to submit hotel accommodation tax directly to the government, according to a press release issued last Thursday. On …
A recent report from Berlin-based non-governmental organisation Transparency International explores how businesses and institutions in the United Kingdom help corrupt individuals and regimes launder money, and it draws a “clear …
France plans to add the Virgin Islands to a blacklist along with the Seychelles, Anguilla and the Bahamas because they are “not cooperative enough in terms of financial transparency,” French …
Continue reading “France may blacklist Virgin Islands, others”
Scotiabank announced earlier this month that it has reached an agreement for the sale of 100 percent of the shares of its Virgin Islands branch to Trinidad-based Republic Financial Holdings …
Last week, as the Virgin Islands celebrated the 35th anniversary of the International Business Company Act, 1984, three H. Lavity Stoutt Community College debaters outlined why the act was so …
