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Business

March 21, 2022

One Mart continues expansion

One Mart owner Mark Vanterpool thinks Virgin Islands residents should have more local places to shop. And by that, he means they shouldn’t have to go more than a few …

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by CLAIRE SHEFCHIK
March 21, 2022

Work starts on public company register

A year and a half after Premier Andrew Fahie promised to work with the United Kingdom toward establishing a public register of beneficial ownership by 2023, he has announced that …

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by CLAIRE SHEFCHIK
March 17, 2022

Territory added to EU ‘grey list’

The Virgin Islands has been added to the European Union’s “grey list” along with nine other jurisdictions in the Caribbean and elsewhere, the EU Council announced after its meeting on …

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by CLAIRE SHEFCHIK
March 17, 2022

VI on board with ‘dizzying’ Russia sanctions

As Virgin Islands firms scramble to implement sanctions against Russian financial institutions and individuals in the wake of the Ukraine invasion, BVI Finance CEO Elise Donovan is clapping back at …

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by CLAIRE SHEFCHIK
March 10, 2022

BVITB request for more funds rebuffed

The head of the BVI Tourist Board told legislators last year that the agency needed $15 million to do its job in 2022, when tourism is expected to recover by …

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by CLAIRE SHEFCHIK
March 9, 2022

FSC recognises digital exchange

The Financial Services Commission has announced that an Asian exchange focusing on digital securities has been admitted to the territory’s list of recognised exchanges. It’s the latest move in an …

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by CLAIRE SHEFCHIK
February 28, 2022

A day charter boat with history

As the Anne Bonny drifts past the cruise pier, an ethereal female voice pours out of the speakers: “Villainous, infamous, Anne Bonny…”. Next to the massive, gleaming cruise ships moored …

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by CLAIRE SHEFCHIK
February 28, 2022

Report: Virgin Islands to be grey listed

Government is monitoring reports that the Virgin Islands will be added to the European Union’s grey list of “non-cooperative tax jurisdictions” along with Bermuda, Israel, Russia and others, Premier Andrew …

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by CLAIRE SHEFCHIK
February 21, 2022

Online work permit system on hold

The online work permit system at the Department of Labour and Workforce Development has gone offline indefinitely, according to a government bulletin released on Monday. The announcement came amid an …

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by CLAIRE SHEFCHIK
February 21, 2022

CDB: Service economies to grow 4.8% in 2022

The Caribbean Development Bank is projecting gross domestic product growth of 9.1 percent across its 19 borrowing member countries in 2022, accelerating the regional economic recovery that started last year. …

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by CLAIRE SHEFCHIK
February 14, 2022

Overnight arrivals dropped in 2021

New tourism numbers are in for 2021: About 50,000 overnight guests arrived on Virgin Islands shores in all of 2020. The fall is dramatic when compared to previous years. Before …

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by CLAIRE SHEFCHIK
February 14, 2022

CDB: Paraquita grid could be regional model

A planned solar P/V microgrid project in Paraquita Bay could serve as a model for similar renewable energy products throughout the Caribbean, according to Daniel Best, the Caribbean Development Bank’s …

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by CLAIRE SHEFCHIK
February 12, 2022

ITA to be fully staffed soon, director says

The International Tax Authority will finally be fully staffed when another six employees join the ballooning department to help it handle the tax information requests that have flooded in since …

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by CLAIRE SHEFCHIK
February 10, 2022

Charter ‘communication gap’ criticised

There is a “communication gap” between the Virgin Islands Shipping Registry, Her Majesty’s Customs and the public, according to Natural Resources, Labour and Immigration Minister Vincent Wheatley. During the Standing …

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by CLAIRE SHEFCHIK
January 31, 2022

Incorporation gains explained in SFC

Last year was a “fantastic year” for Virgin Islands financial services, according to Simon Filmer, a BVI Finance board member and managing director of Vistra. Speaking to the Standing Finance …

Continue reading “Incorporation gains explained in SFC”

by CLAIRE SHEFCHIK
January 31, 2022

Trade boss: NDP biz loan programme flopped

Despite considerable interest from entrepreneurs, government has no plans to enact another low-interest loan programme for small businesses after the previous programme collapsed following Hurricane Irma, according to Karia Christopher, …

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by CLAIRE SHEFCHIK
January 25, 2022

VI electricity costs near region’s average

Recent studies of global broadband and mobile data pricing from United Kingdom-based telecommunications provider Cable.co.uk haven’t turned out well for the Virgin Islands, which has consistently shown to have some …

Continue reading “VI electricity costs near region’s average”

by CLAIRE SHEFCHIK
January 24, 2022

VI lags region in tourism recovery

Even as the Virgin Islands tourism industry experiences a rebound following the height of the Covid-19 pandemic, numbers released last month reveal that the territory underperformed the Caribbean as a …

Continue reading “VI lags region in tourism recovery”

by CLAIRE SHEFCHIK
January 17, 2022

Online system now limited to new work permits

The much-touted online work permit system has gone partially offline again after launching less than six months ago, acting Labour Commissioner Michelle McLean said last month. Effective Dec. 15, the …

Continue reading “Online system now limited to new work permits”

by CLAIRE SHEFCHIK
January 17, 2022

19 firms apply to build microgrid

Despite technical glitches during a public opening ceremony on Friday, the BVI Electricity Corporation received 19 applications for pre-qualification for a proposed Caribbean Development Bank funded microgrid project in Paraquita …

Continue reading “19 firms apply to build microgrid”

by CLAIRE SHEFCHIK
January 17, 2022

Q3 incorporations up again

Incorporations soared in the third quarter of 2021, continuing a turnaround that began early last year. More new companies formed in the Virgin Islands in Q3 than in any quarter …

Continue reading “Q3 incorporations up again”

by CLAIRE SHEFCHIK
January 12, 2022

TRC plans to change licensing rules

A requirement to administer telecommunications businesses locally — as well as the removal of provisions for obsolete technologies like payphones — may be part of revised licensing requirements as the …

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by CLAIRE SHEFCHIK
January 12, 2022

Crowley cuts back, but VI safe for now

The maritime shipping giant Crowley has pulled out of parts of the Leeward Islands, but it will continue to serve the Virgin Islands, a company spokesman told the Beacon this …

Continue reading “Crowley cuts back, but VI safe for now”

by CLAIRE SHEFCHIK
December 14, 2021

Survey to assess workforce needs

Tourism is once again in full swing in the Virgin Islands, but staffing remains a key concern for businesses struggling to get back on their feet after the pandemic shutdowns, …

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by CLAIRE SHEFCHIK
Survey to assess workforce need
December 13, 2021

Cyber attacks ‘becoming more sophisticated’

Every business is vulnerable to cybersecurity threats regardless of its size, and Virgin Islands businesses should assess their risks and invest in appropriate preventive measures, two VI executives said during …

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by Dana Kampa

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