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Business

March 4, 2021

Tourist Board gives virtual tours at Golden Roadshow

“Good morning, everyone. On behalf of BVI Golden Roadshow Airlines, it is my pleasure to welcome you aboard Flight 284 with nonstop first-class service from San Juan, Puerto Rico to …

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by CLAIRE SHEFCHIK
February 27, 2021

Trade Commission ‘launches’ with no members

A streamlined, business-friendly environment across all sectors of the economy will be the goal of the Virgin Islands Trade Commission, which was officially “launched” on Tuesday during a virtual ceremony …

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by CLAIRE SHEFCHIK
February 17, 2021

CIBC FirstCaribbean sale called off

The Canadian Imperial Bank of Commerce’s efforts to close a $797 million sale that would see it unload FirstCaribbean banks in the Virgin Islands and 15 other Caribbean locations was …

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by CLAIRE SHEFCHIK
February 15, 2021

Finance industry copes with inquiry fallout

The financial services industry that has helped keep the Virgin Islands economy afloat amid the global pandemic is rushing to distance itself from a new threat posed by the commission …

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by CLAIRE SHEFCHIK
February 8, 2021

Slight Q3 spike in incorporations offers hope

New company incorporations climbed by 32 percent to reach 6,254 in the third quarter of 2020 after three straight quarters of falling numbers, as the financial services industry proved a …

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by CLAIRE SHEFCHIK
FSC Q3 2020
February 5, 2021

Port fee hikes vex businesses

Fees for cargo, wharfage and other services will double and the cost of some licences will more than triple under a new fee hike announced last week by the BVI …

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by CLAIRE SHEFCHIK
February 3, 2021

VI threatened with EU blacklist again

The dawn of Brexit could find the Virgin Islands on the European Union blacklist of non-cooperative tax jurisdictions even though the territory passed economic substance legislation in 2018 specifically to …

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by CLAIRE SHEFCHIK
February 2, 2021

Attorney general’s residence to be repaired

A Virgin Islands construction firm has been tapped to perform more than $300,000 worth of repairs to the attorney general’s residence in McNamara, more than three years after the building …

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by CLAIRE SHEFCHIK
January 26, 2021

Caribbean tourism looks to diaspora

The Caribbean tourism economy continues to struggle, with the World Travel and Tourism Council estimating recently that the best-case scenario will see it take a hit of $27 billion and …

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by CLAIRE SHEFCHIK
January 26, 2021

VI court freezes assets in $6b case

A Virgin Islands court has frozen shares in two hotels belonging to Pakistan’s national airline in one of the highest-dollar cases ever mediated through the territory’s courts. The order may …

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by CLAIRE SHEFCHIK
January 20, 2021

The Moorings expands to St. Thomas

Even as the Virgin Islands charter industry struggles to regain the business it lost during the Covid-19 pandemic, it is poised to get some new competition from its neighbouring territory. …

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by CLAIRE SHEFCHIK
January 20, 2021

Report gives VI biz stimulus low marks

Out of 22 Caribbean countries and territories surveyed recently by the International Labour Organisation, the Virgin Islands offered the fewest types of Covid-19 stimulus to businesses — two out of …

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by CLAIRE SHEFCHIK
January 9, 2021

Survey details major Covid impacts

Twenty percent of about 50 businesses that responded to a November survey from the BVI Chamber of Commerce and Hotel Association reported an “extremely negative impact” from the Covid-19 pandemic …

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by CLAIRE SHEFCHIK
January 9, 2021

US companies required to disclose owners

The United States Congress followed the lead of the United Kingdom, the European Union and other countries last month in taking aim at anonymous companies used to enable tax abuse, …

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by CLAIRE SHEFCHIK
December 17, 2020

UK publishes draft order for public registers

The Virgin Islands government has “significant reservations” about a draft order in council on public registers of beneficial ownership, according to Premier Andrew Fahie. The draft, which was published on …

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by CLAIRE SHEFCHIK
December 17, 2020

BVIF praises paper on public registers

BVI Finance has praised a British think tank’s new paper about public registers of beneficial ownership, a topic which has put the Virgin Islands and other overseas territories at odds …

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by CLAIRE SHEFCHIK
December 17, 2020

Events highlight changing financial industry

This year’s Financial Services Week, which wrapped up on Friday, featured the theme “Top of the List: Celebrating Longevity, Ingenuity, Substance and Transparency,” and highlighted the contributions of an industry …

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by CLAIRE SHEFCHIK
December 17, 2020

Pier Park to get valet parking, for charity

Parking may soon get easier for holiday shoppers at the Cyril B. Romney Tortola Pier Park after the launch of a valet parking service as part of a partnership with …

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by CLAIRE SHEFCHIK
December 15, 2020

SPECIAL REPORT: Incorporations still falling after 20-year lows in 2019

Shortly before the Covid- 19 pandemic began to wreak havoc on the global economy, the Virgin Islands quietly reached its own troubling economic milestone: New company incorporations, long viewed as …

Continue reading “SPECIAL REPORT: Incorporations still falling after 20-year lows in 2019”

by CLAIRE SHEFCHIK
December 4, 2020

Like CCT, FLOW suing over levy

Like CCT and BVI Cable TV, FLOW has filed a lawsuit challenging the levy that the Telecommunications Regulatory Commission recently decided to start collecting for the first time since the …

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by CLAIRE SHEFCHIK
December 4, 2020

Regional tourism stats grim

Even as Caribbean countries including the Virgin Islands cautiously reopen their borders to tourists, new statistics from the Caribbean Tourism Organisation’s November report illustrate the havoc the Covid- 19 pandemic …

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by CLAIRE SHEFCHIK
December 3, 2020

Report blames VI for 3.81% of global tax loss

A recent report by the nonprofit Tax Justice Network alleged that the Virgin Islands is responsible for 3.81 percent of global tax losses amounting to $16.3 billion, a figure that …

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by CLAIRE SHEFCHIK
November 28, 2020

Resorts to start opening Tuesday

Some of the territory’s largest resorts announced last week that they plan to open their doors either on the same day or shortly after the territory as a whole does …

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by CLAIRE SHEFCHIK
November 21, 2020

CCT sues over telecom levy

CCT and BVI Cable TV are challenging the telecommunications levy that regulators recently decided to start collecting for the first time since the Telecommunications Act took effect in 2006. In …

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by CLAIRE SHEFCHIK
November 18, 2020

Furlough period extended until February

Amid demands from the business community, Natural Resources, Labour and Immigration Minister Vincent Wheatley has announced that the workforce furlough extension passed in the House of Assembly in June will …

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by CLAIRE SHEFCHIK

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