When government officials broke ground on the Market Square revitalisation in October 2020, they said the project would be completed in about nine months. That didn’t happen, but completion is …
$600k microgrid to be tendered soon
Tender documents are being developed for release to seven companies that pre-qualified to bid on the Paraquita Bay solar microgrid project announced last year, Deputy Premier Kye Rymer said last …
Bill is another step toward deposit insurance
An amendment before the House of Assembly would bring the territory one step closer to setting up a long-promised system of deposit insurance in the territory. The amendment to the …
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Why celebrities need help with finances
Celebrity finances are frequently in the news, for reasons from bankruptcy to tax trouble to messy divorces to squabbles over estates. Lawyer, businessman and author Martin Litwak, founding partner of …
Bill includes framework for deposit insurance
An amendment currently before the House of Assembly seeks to give the Financial Services Commission more tools to handle banking crises and would set a long-awaited framework to bring into …
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Incorporations fall hard in Q2
Incorporations toppled in the second quarter, suggesting that 2022 won’t reach the heights of 2021, according to the latest quarterly report from the Financial Services Commission. Q2 2022 saw just …
BVIEC to get $240k grant from EU
The BVI Electricity Corporation has been awarded €245,481 (about $241,000) from the European Union to improve its ability to keep the power on during pandemics and other “extreme and recurrent” …
Financial Services Commission approves digital asset exchange
Global digital asset service provider Huobi announced that it has secured approval from the Financial Services Commission to operate an exchange for cryptocurrencies and other virtual assets under its subsidiary …
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Tourism, tech on agenda at Inter Virgin Islands Council
The first formal meeting since 2020 between the governments of this territory and the United States Virgin Islands resulted into boost the tourism and marine industries and improve wireless technology. …
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Region warned to cut airfare taxes
Even as travel bounces back post-pandemic, Caribbean destinations risk pricing themselves out of the market if they don’t find a way to lower taxes and fees on airline tickets and …
Crypto collapse ‘a chance to take stock’
The recent collapse of Virgin Islands-registered cryptocurrency hedge fund Three Arrows Capital proved to be one of the most dramatic local impacts of the massive sell-off that has been called …
Under fire, finance industry pushes back
The Virgin Islands financial services industry generated $196 million in revenue for the territory last year, up from $189.75 million the previous year, and kept the economy largely afloat during …
Global HR society launches Virgin Islands chapter
A global human resources association now has a new presence in the territory. The Virgin Islands chapter of the Society of Human Resource Management installed its inaugural executive board during …
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Acts strengthen tax regulator
Two laws the House of Assembly passed in May will strengthen the powers of the International Tax Authority to inspect financial institutions and to interview people associated with Virgin Islands-registered …
MarineMax targets superyachts
With a new acquisition, a yacht retailer and charter company with a base in the Virgin Islands is expanding its offerings into the luxury megayacht space. The Clearwater, Florida-based MarineMax …
Lawyers explain benefits of a will
More than 90 percent of the attendees at an Aug. 19 forum about estate planning admitted they didn’t have an active will in place. But when asked at the end …
Vendors give Festival mixed reviews
Around sunset on Sunday, July 31, in the Bernard “Yampie” Nibbs Festiville, bartender Dr. Garvin Dougan was learning how to make a new cocktail. He hadn’t heard of the combination …
HOA agrees to cut remittance tax
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. …
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 …
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 …
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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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 …
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 …
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. …
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 …