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
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 …
April 5, 2019
Insurance premiums spiked after Irma
A soft insurance market in the Virgin Islands and a surge in payouts from reinsurers has led to rising insurance premiums in the territory, according to Kishma Baronville, general manager …
March 23, 2019
More contracts awarded under CDB loan
During the month of February, several more contracts were signed and awarded under the $65 million Caribbean Development Bank rehabilitation and reconstruction loan. Now, nine of 18 consultancy contracts have …
March 18, 2019
Disciplinary tribunal now in place for lawyers
More than three years after the House of Assembly passed legislation to revamp the rules for attorneys in the Virgin Islands, the territory is finally getting a disciplinary tribunal to …
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March 16, 2019
VI avoids EU blacklist, but remains on ‘grey list’
On Tuesday, the European Union added 10 more jurisdictions to its expanding blacklist, tripling the number of jurisdictions already listed. The Virgin Islands was not one of them. In an …
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February 21, 2019
Virgin Islands launch new BEPS measure
In December, the Virgin Islands implemented a new Base Erosion and Profit Shifting (BEPS) measure, according to Government Information Services. The Organisation for Economic Co-operation and Development created a BEPS …
February 21, 2019
New liquor licence rules take step towards becoming law
Before dissolving the House of Assembly last month, lawmakers introduced the Liquor Licences Act, 2018, which if passed would grant liquor vendors longer licensing periods but also institute higher rates. …
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February 21, 2019
Caribbean Development Bank looks ahead
The Caribbean Development Bank projected two percent overall economic growth across its 19 regional borrowing member countries this year, as well as 2.2 percent growth specifically in the Virgin Islands, …
February 21, 2019
Lambert schedules reopening for November 1
It’s been a long time since Lambert Bay has been crowded with tourists, but that could change soon. The beach’s resort underwent a significant facelift in 2016 and 2017, closing …
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January 25, 2019
BVI Airways ‘failed to deliver a return,’ Premier says
After years of first denying problems and then deflecting the blame for them, Premier Dr. Orlando Smith acknowledged last week that government’s $7.2 million injection into BVI Airways was a …
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January 25, 2019
BVI Finance-commissioned report touts benefits of offshore
International finance centres like the Virgin Islands facilitated $1.6 trillion of financing to developing countries between 2007 and 2014, according to a recent report by Dr. Judith Tyson, a research …
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January 17, 2019
Dutch blacklist was a surprise, Premier says
As the Virgin Islands awaits a decision from European Union officials regarding the territory’s potential inclusion on an international anti-tax-avoidance blacklist, one country on that continent has already decided to …
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January 11, 2019
Questions surround ‘economic substance’ legislation
The Virgin Islands’ new “economic substance” law took effect on New Year’s Day, but financial services stakeholders remain uncertain about its specific requirements and what impact those rules will have …
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December 28, 2018
Government hopes to rebuild Palm Grove Shopping Centre
The government will soon invite proposals for rebuilding the Palm Grove Shopping Centre, which was demolished in August after being gutted by Hurricane Irma, according to Premier Dr. Orlando Smith. …
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