Five days after financial regulators’ surprise announcement that they are winding down the Bank of Asia (BVI) Limited, Premier Natalio “Sowande” Wheatley dropped another bombshell on Tuesday in the House …
June 6, 2025
September 19, 2024
Financial services reforms continue
The House of Assembly suspended its usual rules on Monday to introduce and pass two financial services bills designed to avoid international sanction by bringing the territory in line with …
June 21, 2024
Smith expects trade boost after mission to East Asia
A “significant” boost to the territory’s economy will follow in the wake of a major trade mission to the Asia-Pacific region, Deputy Premier Lorna Smith has predicted. As well as …
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May 6, 2024
Call made for civil asset forfeiture law
A straightforward revamp of Virgin Islands business law would help combat financial crime and boost the territory’s reputation while potentially putting tens of millions of dollars in the government’s coffers, …
May 3, 2024
Piggy bank contest inspires young savers
Superheroes were used to inspire Virgin Islands youths to become “super savers” as five financial institutions backed a piggy bank design competition this week at the BVI Financial Services Commission …
April 8, 2024
Q3 incorporations tick up slightly
More companies were incorporated in the territory in the third quarter of 2023 than in the previous three months, a bright spot for a financial services sector that has grappled …
October 6, 2023
Q2 incorporations hit 23-year low
Company incorporations dropped sharply in the second quarter of this year, continuing a downward trend that could see 2023 set a two-decade record by underperforming successive 20-year lows in 2019 …
September 12, 2023
Financial Services Commission claims its website was cloned
The Financial Services Commission’s website has been cloned at a similar internet address, and the agency said it is working to decommission the fake. The purpose of the fraudulent site …
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May 4, 2022
NOTICES (May 5, 2022)
APPLICATION FOR LIQUOR LICENSE We, Carolin Romney-Peters and Ezra L. Peters now residing at West End, Tortola, do hereby give notice that it is our intention to apply to the …
March 9, 2022
FSC recognises digital exchange
The Financial Services Commission has announced that an Asian exchange focusing on digital securities has been admitted to the territory’s list of recognised exchanges. It’s the latest move in an …
August 16, 2021
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 …
June 2, 2021
New incorporations hit 21-year low in 2020
With just 22,362 new companies formed, 2020 hit a 21-year low for new incorporations, despite a fourth quarter that performed slightly better than the year before, according to numbers recently …
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May 15, 2021
FATF review set to get under way in July 2022
The Caribbean Financial Action Task Force’s long-delayed onsite visit to the the Virgin Islands is scheduled for July 2022, and Financial Services Commission officials said a flurry of activity is …
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May 3, 2021
HOA updates financial laws, others
The House of Assembly passed seven bills on April 22, most of which updated existing legislation focused on financial matters including fee waivers, trusteeships and inheritance rules. While presenting the …
March 31, 2020
Financial services adapt to ‘social distancing’
For financial services firms now compelled to conduct most or all of their business virtually due to the global coronavirus pandemic, the Virgin Islands is an ideal place to do …
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February 19, 2020
February 6, 2020
Q3 incorporation bump offers faint hope
Incorporation numbers managed a slight recovery in the third quarter of 2019, with the Financial Services Commission reporting a 9.58 percent increase over Q2’s dismal performance, which saw the lowest …
December 17, 2018
Vistra study: VI second-most important global financial jurisdiction
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 …
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November 29, 2018
FSC gives women financial advice
This article originally appeared in the Beacon’s print edition on Nov. 22. At a “Money Matters” discussion last Thursday, almost any topic relating to women and finance was fair game. …
July 26, 2018
Scotiabank customers criticise bank’s abrupt wave of account closures
A handful of Scotiabank (BVI) Limited customers were forced to scramble for alternative banking options after the Canada-based bank launched a wave of sudden account closures at the end of …
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