The issue of long lines at various banks in the territory has reached the Premier’s Office and he has expressed his intent to address the growing issue with the local Banking Association. Premier Dr. the Honourable Natalio Wheatley made the disclosure at a recent press conference in response to a query posed by the media. … Continued
The British Virgin Islands (BVI) International Tax Authority (ITA) Director met with the financial services industry to discuss new legislative updates and compliance with international standards for tax purposes. ITA Director LaToya James spoke at the BVI Finance Breakfast Forum on 21 July where she explained the ITA’s role and provided context on the recent … Continued
The British Virgin Islands Financial Services Commission (the “Commission”) is advising all industry practitioners that its new Authorisation and Supervision Division becomes fully operational effective Friday, 01 July 2022. The new structure transitions the Commission’s supervisory framework from product[1]based supervision to risk-based functional management, allowing the Commission to enhance oversight of regulated businesses and individuals … Continued
The British Virgin Islands Financial Services Commission (the “Commission”) has confirmed the appointment of Mr. Glenford Malone as Deputy Managing Director, Regulation with effect from 01 January 2022. The Deputy Managing Director, Regulation is the Commission’s chief regulatory officer responsible for implementing the Commission’s overall regulatory strategy. Mr. Malone has over twenty years of experience … Continued
BVI Finance launched a fact-based content series to showcase the full picture of the BVI’s Financial Services industry called, BVI360. BVI Finance CEO Elise Donovan stated that the purpose of the series comes at an appropriate time, given the ongoing conflict and increasing inflation across the world, where many leading economists are predicting a global … Continued
As the Virgin Islands’ economy bounces back from the pandemic recession over the past two years, the rise in the costs of goods and services has hit small- and medium-sized businesses severely as they continue to work hard to return to their normal operations. Interruptions in global logistics and supply chains have significantly impacted consumer … Continued
The Virgin Islands is said to be taking all requisite steps to ensure that it adheres to its international obligations as an Overseas Territory of the United Kingdom. The Territory is also complying with all sanctions issued by the United Kingdom that are extended to it by way of the relevant Overseas Territories Sanctions Orders … Continued
The British Virgin Islands Financial Services Commission (“the Commission”) announces the appointment of Mr. Shane Baptiste as the Commission’s new Asia Representative at BVI FSC (HK) Ltd., with effect from 01 July 2022. Mr. Baptiste replaces Mr. Burton Chalwell, who returns to the Commission after his tenure ends on 30 June 2022. As Asia Representative, … Continued
Republic Bank (BVI) Limited (RBVG) is advising its customers that its conversion from the Banking Systems of Bank of Nova Scotia (BNS) to Republic Financial Holdings Limited’s (RFHL) suite of technology platforms is set to take place on April 4, 2022. To facilitate this conversion, the Bank’s operations will experience some temporary changes, including the … Continued
In a recent Facebook post former Education Minister and businessman Myron Walwyn publically questioned as to when the BVI will relax travel entry requirements. Walwyn said, “The effects of the current conflict in Russia and the Ukraine on our tourism sector must be closely examined. We recently saw some light at the end of the … Continued
