The Virgin Islands fell 12 spots to a ranking of 72nd out of 111 jurisdictions included in the Global Financial Centres Index 28, the latest edition of an index released …
October 19, 2020
October 19, 2020
BVITB funds tourism training
“Imagination is a factory that builds legends,” said newly confirmed H. Lavity Stoutt Community College President Dr. Richard Georges, quoting his favourite rapper, Jay Electronica, on Friday. “You have to …
October 14, 2020
BVI Finance responds to FinCEN leaks
Due to the territory’s Beneficial Ownership Secure Search system, the Virgin Islands is better prepared than most other jurisdictions to respond to the types of suspicious activity reports leaked in …
October 14, 2020
Chamber releases protocols government rejected
Rebuffed by government, a task force from the BVI Chamber of Commerce and Hotel Association released last week a comprehensive set of guidelines in an effort to help business owners …
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September 25, 2020
Premier softens position on public registers
Premier Andrew Fahie appears to have softened his government’s stance on the United Kingdom’s push for the overseas territories to enact public registers of beneficial owner- ship by 2023. For …
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September 18, 2020
1,039 businesses qualify for grants
Government announced Monday that 1,039 businesses will receive funds under the $6.5 million Small Business Sector Grant Programme, and 10 others will benefit from a $40,000 United Nations Development Programme …
September 5, 2020
Pinching pennies amid pandemic
In March, just as Covid-19 hit the Caribbean, Peter George, CEO of the Trinidad-based restaurant group Trent Limited, closed his portfolio of eateries before the government made him. “You could …
August 28, 2020
Panel warns about Ponzi schemes in VI
The economic hardships created by the Covid-19 crisis have prompted some desperate residents to put their money in illegal Ponzi and pyramid schemes that can promise as much as a …
August 28, 2020
Gov’t ignored 5 letters, BVICCHA says
Since the BVI Chamber of Commerce and Hotel Association’s Business Task Force first met on March 19, the group has sent the government five letters with situation reports and recommendations …
August 21, 2020
Grants may not be as big as businesses request
Although she reiterated last week that “99.9 percent” of businesses that apply would qualify for the government’s recently launched $6.5 million grants programme, Junior Minister for Trade and Economic Development …
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August 14, 2020
Caribbean Airlines faces challenge to VI expansion
In recent months, Virgin Islands leaders have said that new flights proposed by the Trinidad-based Caribbean Airlines likely would help ease the territory’s air access woes as regional airline LIAT …
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August 3, 2020
Businesses can now apply for grants
According to Karia Christopher, director of the Department of Trade, Investment Promotion and Consumer Affairs, “99 percent of businesses that apply will qualify” for the government’s $6.5 million Small Business …
August 3, 2020
Discovering your own backyard
With borders tightly restricted due to the Covid-19 pandemic, now is a perfect time for a “staycation,” according to tourism-based businesses that have been promoting a variety of packages to …
July 24, 2020
UK singles out VI over company registers
The United Kingdom government singled out the Virgin Islands last week as the sole holdout among the inhabited UK overseas territories and Crown dependencies that has not committed to introducing …
July 22, 2020
$194k contract awarded for Great Mountain road
Government continued its recent series of infrastructure projects last Thursday, with Autland Heavy Equipment Company Limited awarded a contract for $194,065.08 from the Recovery and Development Agency for the first …
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July 22, 2020
Banks look beyond moratoriums
Last week, Republic Bank Managing Director Michelle Palmer-Keizer spoke to one of her customers, a small-business owner who had received a six-month moratorium on her bank loan. “She said, ‘I’m …
July 14, 2020
LIAT’s future still up in the air
As leaders of LIAT shareholder states struggle over the future of the beleaguered airline, BVI Airports Authority Chairman Bevis Sylvester has announced how the territory might fill the gap if …
July 14, 2020
Planning for hurricane season
As businesses ramp up preparations for the height of hurricane season, they need a plan, according to Kristi Creque, disaster management officer for the BVI Red Cross. This season, she …
July 8, 2020
Experts weigh in on EU, Covid-19
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, …
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 …
