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 …
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 …
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 …
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, …
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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Cruise shippers get BVI Now app update
The BVI Ports Authority and the BVI Now app are partnering on a major 2022 update to the app in an effort to solve that problem, according to the app’s …
Financial Services Week about regulation, ‘gatekeepers’
In the financial services industry, regulation is often considered a burden. But during this year’s Financial Services Week, the industry chose to look at it differently, according to BVI Finance …
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Financial firms urged to consider biodiversity
Banks, investment funds and insurers could boost their own bottom line by making green decisions that help close an estimated $800 billion per year “biodiversity funding gap” that has been …
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As tourism returns, staff shortage a concern
After one of the roughest years for tourism in recent memory, hotels, yachts and villas are beginning to fill up again at last, but stakeholders fear that staff shortage and …
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‘He runs a tight ship’: Robert Mathavious saluted
In its early days, the Virgin Islands financial services industry was “the Wild West,” according to Michael Riegels, a founder of Harneys and one of the five practitioners who laid …
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Young entrepreneurs to sell at pier park
Two formerly empty kiosks at the Cyril B. Romney Tortola Pier Park will be busy for the rest of the year with young entrepreneurs selling drinks — lemonade for the …
Waterfront Park’ coming to Port Purcell
Many people like the smell of bread baking, but JOMA Properties CEO Colin O’Neal prefers the smell of “freshly poured concrete,” he said. And Mr. O’Neal is looking forward to …
Prices spike as VI feels supply chain pinch
Complaints about skyrocketing prices and a scarcity of some goods have been popping up on local social media, and Virgin Islands stakeholders with knowledge of the shipping industry said these …
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Saba Rock opens doors
Saba Rock Resort has been through more than a few storms since the 1960s, when scuba diver and treasure hunter Herbert “Bert” Kilbride used it as his laid-back North Sound …
ICIJ: Pandora fallout could continue for years
After the release of global news coverage about some 12 million documents revealing the offshore assets of about 300 politicians and 35 current and former heads of state facilitated through …
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Despite dismal numbers, Tourist Board hopeful
Tourism numbers for the first half of 2021 are in, and although 26,601 visitors from January to July is a relatively dismal showing, the BVI Tourist Board is optimistic that …
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‘Pandora Papers’ data leak involves mostly VI firms
More than two thirds of the companies named in a massive new offshore data leak analysed by the International Consortium of Investigative Journalists were incorporated through the Virgin Islands, the …
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Digital currency comes to Caribbean
This year, the Caribbean struggled with economic turmoil due to the ongoing pandemic, a major volcanic eruption in St. Vincent, and an earthquake in Haiti. But amid the upheaval, the …
China reins in US-listed companies
In a move that could impact the use of Virgin Islands structures, China’s government recently issued new guidelines aimed at increasing the supervision of some of the largest Chinese companies …
Apolitical boards called key to sustainable tourism
At a time when the Virgin Islands government is under fire for abruptly dissolving its own Climate Change Trust Fund board and failing to replace it, a Caribbean tourism pioneer …
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Report: EU banks reap billions from VI, others
A new report from the European Union Tax Observatory suggests that European banks are reaping about 14 percent of their total profits — about 20 billion euros a year — …
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Autland signs its seventh RDA contract
Autland Heavy Equipment, a Virgin Islands firm, has been awarded its seventh contract from the Recovery and Development Agency by beating out eight other local bidders to win a $1,799,499.68 …
Labour minister grilled on work permits
On Monday in the House of Assembly, opposition member Julian Fraser took aim at the recent Ministry of Natural Resources, Labour and Immigration policy of requiring holders of work permits …
OECD tax exec to speak at VI conference
Robert Mathavious, a pioneering leader in the Virgin Islands financial services industry who retired at the end of last year, will get a weeklong tribute in November during a conference …
HOA approves deputy speaker’s contracts
In an emergency virtual meeting on July 29, the House of Assembly voted to retroactively exempt Deputy Speaker Neville Smith from vacating his seat after his company Caribbean Security Limited …