Cabinet’s July 20 decision to reduce the remittance tax — often criticised for targeting the territory’s poorest residents — got the green light from the House of Assembly on Tuesday. …
August 12, 2022
August 1, 2022
Bill would amend companies act
An amendment to the BVI Business Companies Act that passed last Thursday in the House of Assembly includes several provisions designed to strengthen the territory’s compliance with international standards combating …
July 29, 2022
Christmas in July draws 400 boats
On Monday, Tomas Dardet and nearly 20 of his friends and family members toured The Baths in Virgin Gorda, climbing in and out of the rock pools and exploring the …
July 25, 2022
70 officials trained for coming evaluation
As the Virgin Islands continues to prepare for the Fourth Round Mutual Evaluation next year from the Caribbean Financial Action Task Force, more than 70 representatives from government agencies and …
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July 25, 2022
Peter Island mum on re-opening
One of the Virgin Islands’ flagship resorts is still rebuilding five years after Hurricane Irma, but the owners have been tightlipped about its progress. Although Peter Island Resort and Spa …
July 22, 2022
Myett’s loses appeal to laid-off workers
The Court of Appeal has dismissed an appeal by Myett’s Enterprises Limited against a dozen former employees who lost their jobs after Hurricane Irma severely damaged the hotel and restaurant …
July 22, 2022
Global tax deal hits hurdles
A deal for a global minimum tax rate that could impact the Virgin Islands’ financial services industry is facing roadblocks in the United States and Europe, according to news reports. …
July 15, 2022
Incorporations climb in Q1
Incorporations could be on track to top last year if first-quarter trends continue, according to the latest quarterly report from the Financial Services Commission. In 2021, new incorporations in the …
July 15, 2022
VI-registered crypto fund collapses
Three Arrows Capital — a Virgin Islands-registered, Singapore-based cryptocurrency hedge fund once worth more than $3 billion in assets — rocked the crypto world on Friday by filing for Chapter …
July 4, 2022
Premier defends biz licensing law
After business stakeholders raised concerns about several aspects of the Business Licensing Act passed two weeks ago in the House of Assembly, Premier Dr. Natalio “Sowande” Wheatley defended the bill …
July 4, 2022
Online tax system to launch next year
More than three years after the deputy head of the Inland Revenue Department called the agency’s computer system “outdated” and “unstable,” government is scheduled to introduce a new online tax …
June 25, 2022
HOA passes trade licence bill
A bill aimed at making the Virgin Islands business climate more competitive by updating and streamlining the licensing process passed with amendments in the House of Assembly last Thursday as …
June 25, 2022
Chamber expo promotes VI businesses
The sun blazed and tourism season was winding down, but the co-owners of Golden Journey Concierge Service were full of enthusiasm as they talked to potential customers at the Buy …
June 20, 2022
VI court issues world-first freeze in crypto case
A Virgin Islands-incorporated company recently convinced the Commercial Court to back a novel approach in trying to track down people involved in an alleged theft of digital currency and seek …
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June 17, 2022
SOL to replace Delta as BVIEC supplier
SOL will step in to provide No. 2 Diesel fuel and other services to the BVI Electricity Corporation through 2024, after the utility’s original contract with Delta Petroleum was terminated …
June 13, 2022
US hopes to seize VI-linked jets
A federal court in New York has authorised the United States government to seize two private jets collectively worth $410 million that are allegedly owned by a Russian oligarch and …
June 6, 2022
Fraser pushes for loan forgiveness
Despite government offering a variety of initiatives to help borrowers struggling financially due to the impacts of the Covid-19 pandemic, Premier Dr. Natalio “Sowande” Wheatley told the House of Assembly …
June 6, 2022
Pier park grants $1.6m in rent concessions
More than $1.6 million in rent concessions were granted to about 70 tenants at the Cyril B. Romney Tortola Pier Park between April 2020 and February 2021 to offset their …
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May 27, 2022
Tourism numbers continue to climb
Overnight tourist arrivals in the first two months of 2022 soared in comparison to the same period in 2021, with the 26,225 visitors representing the Virgin Islands’ slow climb to …
May 27, 2022
COI: Policy on gov’t rentals not always followed
Government leaders have not always followed 2018 guidelines for government rental property, and they have improperly excluded the Deputy Governor’s Office from the process in many instances, according to the …
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May 20, 2022
Rymer touts Seatrade despite Fahie arrest
Cruise ship passengers’ enthusiasm for visiting the Virgin Islands hasn’t been dampened by the arrest of the territory’s former premier last month in Miami while he was on a trip …
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May 20, 2022
VI freezes $40m-plus in Russian assets
Since Russia invaded Ukraine in February, the Virgin Islands has frozen more than $40 million in assets, according to the Governor’s Office, which serves as the competent authority for sanctions …
May 19, 2022
BVIEC: Delta can’t honour fuel contract
Delta Petroleum has notified the BVI Electricity Corporation that it cannot continue to source and supply the fuel required under the contract it signed with the utility in October, BVIEC …
May 19, 2022
Despite turmoil, House passes ITA bill
Even amid the turmoil caused by the forced resignation of then-Speaker of the House Julian Willock on May 3, the House of Assembly still had time to pass a financial …
May 6, 2022
Financial services copes with Fahie fallout
The Virgin Islands financial services industry rushed to distance itself from the Miami arrests last Thursday of Premier Andrew Fahie and BVI Ports Authority Managing Director Oleanvine Maynard — as …
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