Javier Smith, as a freelance boat captain, thought he could anticipate his guests’ every need. But it wasn’t until he visited Miami for a friend’s birthday party that he realised …
August 8, 2019
August 8, 2019
OECD: VI tax regime “not harmful”
The legal framework of the Virgin Islands, along with those of 11 other low- and no-tax jurisdictions, has been declared “not harmful” by the Organisation for Economic Cooperation and Development …
July 22, 2019
FSC to invite applications for fintech “sandbox”
“Digitalisation is our ticket,” Jennifer Potter-Questelles, deputy managing director of corporate services at the Financial Services Commission, said last week during the FSC’s annual Meet the Regulator forum. To help …
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July 18, 2019
Price control ‘not the focus’ of consumer protection bill
Price control is “not the focus” of the 99-page draft Consumer Protection Act, 2019, said Junior Trade Minister Sharie de Castro (R-at large), even though she acknowledged that price gouging …
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July 11, 2019
Q1 incorporations down 19% from Q4
The Virgin Islands incorporated 7,214 new companies in the first quarter of 2019, representing an approximately 19 percent dip from the previous quarter’s total of 8,916 incorporations and turning in …
July 9, 2019
Latin American transparency could provide opportunities
Over the past decade, Latin American families have become increasingly likely to declare their wealth to tax authorities in their home countries, according to Martin Litwak, founder of Untitled (formerly …
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July 4, 2019
BOSSS system praised by United Kingdom, United States
Both United Kingdom and United States law enforcement agencies have praised the overseas territories’ systems for exchanging beneficial ownership information, with UK Home Secretary Sajid Javid calling them “extremely useful” …
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July 3, 2019
German bank raids linked to VI-based company
Last month, German authorities announced that they had raided banks, offices and homes as part of a larger investigation into suspected tax evasion linked to a company set up in …
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July 3, 2019
Dependencies promise public registers
Facing increasing pressure from members of the United Kingdom Parliament, the Crown dependencies of Jersey, Guernsey and the Isle of Man jointly announced last week what they called “a series …
June 25, 2019
Regional tourism grew in Q1
The Caribbean recorded a 12 percent increase in tourist arrivals during the first quarter of 2019 spurred on by a 24 percent rise in arrivals from the United States, according …
June 25, 2019
RDA holds bidders’ conference for temporary housing
The Recovery and Development Agency last Thursday held a conference for bidders interested in repairing homes and erecting temporary housing structures on Tortola, Anegada and Jost Van Dyke. RDA Head …
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June 17, 2019
Willy T set to return to Norman Island
Starting in July, the Willy T floating bar and restaurant will be back where many visitors and residents feel it belongs — in its original location, anchored off The Bight …
June 17, 2019
Caribbean Development Bank pushes ‘digital transformation’
Caribbean Development Bank President Dr. William Warren Smith called for private-sector-led “digital transformation” to achieve a sustainable future in the region as it faces external threats from globalisation and natural …
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June 13, 2019
Hire BVI job fair a place to apply, learn
At 11 a.m. on Friday, Jonathan Hing was already ahead of the game. As around 50 of his fellow jobseekers wandered around, he had filled out an application from The …
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June 13, 2019
VI fires back after topping “tax haven” list
BVI Finance has clapped back after the Virgin Islands topped a list of the “most corrosive corporate tax havens” in the world published last week by the Tax Justice Network. …
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June 4, 2019
Financial services had best year since 2015
The territory’s financial services industry managed to weather a number of threats from abroad and finished 2018 stronger than the previous two years, as indicated by recently published fourth-quarter 2018 …
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May 31, 2019
Making a will won’t kill you, says FSC panel
When Judy Varlack-Pickering’s husband died, he didn’t have a will. Still, she thought everything would work out smoothly “because he was my husband.” She soon received a rude shock. “When …
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May 22, 2019
Vistra: VI retains importance in offshore world
As the financial services industry faces existential threats from multiple directions, a recent report found good news for the Virgin Islands: The territory is among a small number of offshore …
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May 15, 2019
Consumer protection to be introduced again
After years of promises, the territory might finally get consumer protection legislation. Last week Cabinet approved the Consumer Protection Act, 2019, paving the way for a first reading in the …
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May 15, 2019
Nearly 200 derelict vessels to be removed
Contractors including salvagers, marine surveyors, project managers, recyclers and others are putting on their thinking caps, trying to figure out the best way to dispose of some 200 derelict vessels …
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May 6, 2019
Future of LIAT remains uncertain
In multiple public statements and interviews in recent weeks, top LIAT officials provided contrasting outlooks on the future of the beleaguered airline, which is reportedly facing potential financial collapse. Earlier …
May 3, 2019
Draft Economic Substance Code “makes the job easier”
In gauging what did and didn’t go in to the hotly anticipated draft Economic Substance Code released last week by the International Tax Authority, some insiders say one need only …
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April 26, 2019
Draft Economic Substance Code released
As financial services professionals meet behind closed doors, trying to make sense of the newly released draft Economic Substance Code, Simon Gray, head of business development and marketing at BVI …
April 24, 2019
Charterers choose quiet with new electric yacht
When the wind dies down, sailboat charterers in the Virgin Islands often have to switch to diesel power. When they do, the calming sounds of the sea can be drowned …
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April 12, 2019
Banking to return to Virgin Gorda
Starting in August, for the first time in almost a year, Virgin Gorda residents will have access to full banking services, government announced last week. “Following a series of meetings …
