"The light that comes from wisdom never goes out"
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 …
Continue reading “Financial services had best year since 2015”
APPLICATION FOR LIQUOR LICENSE I, Oil Nut Bay Resorts Limited residing at P.O Box 4657, Road Town, Tortola, Virgin Islands and doing business as Oil Nut Bay Resorts Limited, do …
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 …
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 …
Continue reading “Dutch blacklist was a surprise, Premier says”
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 …
Continue reading “Questions surround ‘economic substance’ legislation”
The United States Department of Justice has charged four people with crimes allegedly brought to light by the International Consortium of Investigative Journalism’s Panama Papers expose, according to a DOJ …
Continue reading “US DOJ charges four in ‘Panama Papers’ case”
The Virgin Islands ranked as the second-most-important financial jurisdiction in the world in a recent study published by Vistra, a corporate services provider. The research — titled the “Vistra 2020 …
Continue reading “Vistra study: VI second-most important global financial jurisdiction”
It is good news that the government has finally produced a draft law designed to keep the territory off the looming European Union blacklist, but with a deadline of Dec. …
Continue reading “EDITORIAL: With EU blacklist looming, VI has precious little time”
With less than a month to spare, Premier Dr. Orlando Smith on Tuesday announced Cabinet’s approval of a draft law designed to keep the Virgin Islands off a European Union …
Continue reading “As EU blacklist looms, House to fast-track law”
Government officials have devised what they believe is a solution to the looming European Union blacklist threat, according to Neil Smith, the executive director of government’s Office of International Business …
Continue reading “Government, European Union in talks over looming blacklist”
United Kingdom Chancellor Philip Hammond delivered the UK’s autumn budget to Parliament last week, touching on several points designed to further regulate offshore finance. One of the budget’s initiatives is …
Continue reading “United Kingdom to update ‘offshore compliance strategy’”
The government is paying a tax lawyer in London up to $400,000 to try to derive a legislative solution that will keep the territory off the European Union’s tax-avoidance blacklist …
Continue reading “Government hires UK lawyer in attempt to avoid EU blacklist”
Lord Tariq Ahmad, the United Kingdom minister for the Commonwealth and United Nations, wrote to the “Decision March” organisers last week to express his sympathy for their concerns about public …
Continue reading “United Kingdom responds to Decision March petition”
Shortly after Premier Dr. Orlando Smith returned from a visit to China this month, government lifted the visa requirement for nationals of that country. Chinese can now enter and remain …
Continue reading “Visa requirement lifted for Chinese tourists”
The Virgin Islands government is close to entering into an official relationship with China’s largest association for small and medium-sized enterprises “for the development of a trading platform,” according to …
Continue reading “Premier talks up finance industry across Asia”
The prices of some of the world’s most high-profile cryptocurrencies have dropped significantly in the past two weeks due in part to cooperation between a cryptocurrency trading platform and the …
Continue reading “Cryptocurrencies slump after VI trading platform requests tax info”
The United Kingdom bill that will force the overseas territories to implement public company registers became law when it received a royal assent on Wednesday afternoon. The amendment requires the …
Continue reading “Public registers bill receives royal assent”
This is the third story in a series on the public company registers amendment passed in the House of Commons on May 1. The first piece looked at the background behind …
Continue reading “Premier: No public register here until it’s a global standard”
Recently released Financial Services Commission statistics revealed that the last three months of 2017 saw a strong upward tick in the territory’s incorporation numbers despite the September devastation caused by …
Continue reading “Company numbers climb despite Irma, though industry future remains uncertain”
House of Assembly lawmakers unanimously passed the 2018 Appropriation Act on Friday, budgeting for a deficit for the first time in recent memory. The budget passed with amendments, and though …