Politics

BVI confident it has met OECD requirements

Published

3 years ago

February 10, 2023

Editor

BVI Financial Services Commission headquarters in Road Town, Tortola

By MERRICK ANDREWS
Online News Editor

In light of the new legislative changes that came into effect on Jan. 1, 2023 relating to its financial services sector , the British Virgin Islands (BVI) government has requested a supplementary review be granted by the Organisation for Economic Co-operation and Development (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes that will more accurately reflect the BVI’s status.

“Following a supplementary review, the BVI is confident, that it has complied with the requirements that would get approval for a ‘largely compliant’ rating to be reinstated,” Premier and Minister of Finance, Premier Natalio Wheatley, told the House of Assembly sitting on Friday.

Starting off his presentation in the House, Premier Wheatley said the BVI has demonstrated its continued commitment to complying with evolving international standards on transparency and the fight against financial crime, with a set of new legislative changes that came into force on January 1, 2023.

He said these legislative updates, including amendments to the BVI Business Companies (Amendment) Act 2022, and BVI Business (Amendment) Regulations 2022, meet requirements set out by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes as part of its Peer Review Process.

He went on to explain that the OECD Peer Review assesses compliance with the international standard on transparency and exchange of information on request (EOIR) in addition to assessment of a jurisdiction’s legal and regulatory framework.

The OECD Peer Review on the BVI was launched in in December 2021 and covered a historic review spanning as far back as 2016 and ending in 2020 during the heart of the Covid-19 pandemic, Wheatley said.

He said having maintained a “largely compliant” rating since 2015, the BVI was moved to a “partially compliant” rating in November 2022 as the historic analysis focused on the review period and could not take into consideration important legislative developments in 2022 that would ensure the effective and efficient exchange of information.

He explained: “The OECD Peer Review rating is one of the criteria that determines the “EU List of Non-cooperative Jurisdictions for Tax Purposes” (EU List). The BVI is currently included on the EU’s state of play document known as “Annex II”, which includes jurisdictions that have committed to implementing reforms. Its purpose is to recognise ongoing constructive work in the field of taxation, and to encourage the positive approach taken by cooperative jurisdictions to implement tax good governance principles.

“The BVI has a long track record of adhering to international standards as set by the Organisation for Economic Co-operation and Development (OECD), EU and other recognised global standard-setting bodies.

“Therefore, Madam Speaker, we are hopeful that the legislative amendments that are now in force will mean the BVI is granted a supplementary review by the OECD Global Forum and will soon be reinstated to a ‘largely compliant rating’.

“In closing Madam Speaker, the BVI will remain a world-class international financial center committed to high international standards on transparency and regulation offering a premier business-friendly jurisdiction for international investment and trade and capital flows. I thank you, Madam Speaker,” Wheatley concluded.

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Floor Crossing Shifts BVI Opposition Dynamics: What Mather’s Move Means for the Opposition

Published

2 months ago

December 23, 2025

Editor

Honourable Stacy Mather’s decision to cross the floor and join the Government has raised pressing questions about the leadership and unity of the Virgin Islands’ Opposition, with the Territory approaching its next election cycle.

The Virgin Islands Constitution Order 2007 requires that the Leader of the Opposition be appointed by the Governor based on the recommendation of the majority of opposition members in the House of Assembly. This constitutional framework presupposes a clear majority consensus within the Opposition bloc.

However, the recent political realignments have left the Opposition divided evenly into two camps: one comprising District Representative Honourable Myron V. Walwyn and District Two Representative Honourable Melvin “Mitch” Turnbull, and the other consisting of National Democratic Party (NDP) members Ronnie W. Skelton and Marlon Penn. This split raises the critical question of who currently commands the confidence of the majority of opposition members.

This deadlock presents a potential challenge to Walwyn’s position as Leader of the Opposition. Should the NDP faction, led by Skelton and Penn, consolidate support, they could seek to unseat Walwyn. Furthermore, the Constitution grants the Governor discretion to appoint a Leader of the Opposition if no clear majority or recommendation emerges, making political maneuvering and public perception pivotal factors in the leadership’s future.

A Narrowed Opposition: From Informal Alliance to a Split Minority

Prior to Mather’s crossing, the Opposition consisted of an informal parliamentary grouping of three members—Walwyn, Turnbull, and Mather—alongside the NDP’s Skelton and Penn. This alliance held enough numbers to enable Walwyn to assume the Opposition leadership, replacing Skelton.

With Mather’s move to the Government benches, this parliamentary alliance is reduced to Walwyn and Turnbull, while the NDP counts Skelton and Penn among its members, leaving the Opposition evenly divided.

Mather’s Move: Political Strategy and Its Ripple Effects

Framed by Mather as a pragmatic step to expedite government efforts on workforce development and community empowerment, his crossing grants him greater access to resources and influence over key programmes such as RATED.

However, the move simultaneously fractures the Opposition at a critical juncture, weakening its parliamentary presence and disrupting established alliances. The dissolution of the Progressive Virgin Islands Movement (PVIM) and Skelton’s return to the NDP further complicate the Opposition’s evolving identity.

With elections potentially slated for late 2026 or early 2027, the Opposition’s internal divisions may hamper its ability to organize and present a cohesive alternative to the Government. Leadership contests may arise not only for the Leader of the Opposition role but also within and between party groupings.

The Walwyn-Turnbull parliamentary alliance must consider whether to forge new partnerships or solidify their stance against a revitalized NDP. Conversely, the NDP faces the task of the integration of Skelton’s return while asserting itself as the principal opposition force.

Ultimately, the Opposition’s viability hinges on overcoming fragmentation, developing clear policy positions, and regaining public trust—all while navigating constitutional provisions that shape parliamentary leadership.

Honourable Stacy Mather’s floor crossing has caused significant shifts in the Opposition’s structure, testing the resilience of both informal alliances and formal parties. For the Opposition, these changes pose both a challenge and an opportunity: to redefine itself as an effective counterbalance or risk marginalization ahead of the next general election.

Local News

Stacy Mather Crosses the Floor to Join BVI Government, Citing National Interest

Published

2 months ago

December 22, 2025

Editor

– Stacy “Buddha” Mather, Territorial At-Large Representative says he remains independent, not affiliated with any established political party

Territorial At-Large Representative Honourable Stacy Mather has crossed the floor to join the Government of the Virgin Islands, marking a significant political shift within the House of Assembly.

Mather confirmed the move in remarks to JTV News, stating, “I am not a member of any established political party and have not joined the Virgin Islands Party.” He joins the Government as an independent, adding to a governing arrangement that now includes three members without party affiliation.

The Government is currently comprised of independent members Honourable Stacy Mather, Junior Minister Honourable Lorna G. Smith, OBE, and Deputy Premier Honourable Julian Fraser of Progressive United.

Mather’s decision follows the formation of an alliance between himself, Honourable Melvin “Mitch” Turnbull, and Honourable Myron V. Walwyn. That alliance resulted in Mather and Turnbull severing ties with the Progressive Virgin Islands Movement (PVIM), while Walwyn distanced himself from the National Democratic Party (NDP).

Although Honourables Mather, Melvin “Mitch” Turnbull and Walwyn formed an alliance in the House of Assembly, the group has not been constituted as an official political party. Members have emphasised that they are working together as a cohesive parliamentary team rather than under an established party banner or formal party structure. In fact, Myron Walwyn noted that the alliance was about strengthening opposition unity and not about immediately forming a new political party, underlining its focus on cooperation rather than party affiliation.

In a national address alongside Premier and Minister of Finance Dr. the Honourable Natalio D. Wheatley in breaking the news, Mather framed his decision as one grounded in service rather than partisanship. “I make this announcement today, not as a member of any political party or grouping, but as a member of this community, as a neighbour, as a guardian, as a servant to our shared home, and now also as a Member of the Government,” he said.

Emphasising continuity rather than change in his principles, Mather added, “Politics has its place, but my duty and responsibility to serve the people of the Virgin Islands comes first. Our country will always come first with me.”

He noted that after more than two years serving in His Majesty’s Loyal Opposition, he now intends to continue that same commitment from within the Government. “Crossing the floor is not a leap away from you; it is a step toward you,” Mather said. “It is a step to get more work done for the people of the Virgin Islands… a step to accelerate progress.”

Mather highlighted pressing national challenges including unemployment, the high cost of living, crime, and youth development, calling for an “all-hands-on-deck” approach. He pledged to place his experience in youth and community empowerment at the Government’s disposal.

Premier Wheatley welcomed Mather into the administration, describing the move as strengthening the Government’s capacity to deliver results. “I am extremely pleased to welcome Hon. Stacy Mather into the Government to strengthen our ability to deliver for the people of the Virgin Islands,” Wheatley said.

The Premier reflected on their shared history dating back to their school days and praised Mather’s long-standing leadership of the Youth Empowerment Project (YEP), calling it “the most successful youth development initiative in the history of the Virgin Islands.”

“Stacy has chosen patriotism over party and country above self,” Wheatley said. “The question is whether we will remain divided in a partisan fight to the finish or whether we will rise to the occasion and save a generation.”

Political Analysis: What Mather’s Move Means

Honourable Stacy Mather’s decision to cross the floor represents one of the most consequential political developments of the current House of Assembly. Unlike traditional floor crossings tied to formal party alignment, Mather’s move is framed explicitly around independence, governance capacity, and national urgency rather than partisan consolidation.

By joining the Government as an independent, Mather alters the political dynamic from a rigid government–opposition binary to a more fluid configuration rooted in issue-based cooperation. This shift weakens the optics of strict party opposition while strengthening the Government’s narrative of inclusivity and competence-driven governance.

Politically, the timing is critical. With the next general election constitutionally due by late 2026 or in the first quarter of 2027, the Government now enters a decisive pre-election window. This period is likely to define public perception around delivery, stability, and leadership effectiveness.

Mather’s move therefore provides the administration with both opportunity and risk: opportunity to demonstrate tangible results ahead of the polls and risk should expectations not be met within a compressed timeframe. For the opposition, the shift compresses its runway to distinguish itself and articulate an alternative vision before voters return to the ballot box.

Importantly, Mather’s credibility as the top vote-getter in the 2023 General Election lends democratic weight to the Government’s claim that this realignment reflects public sentiment rather than political expediency.

As the election window approaches, this realignment may well be remembered less for the act of crossing the floor and more for whether it translated into measurable gains for the people of the Virgin Islands.

Parliamentary Numbers and Government Stability

Mather’s decision has immediate implications for the balance of power in the House of Assembly.

With his inclusion, the Government strengthens its working majority while simultaneously expanding its independent bloc. The administration now includes three members operating outside formal party affiliation: Honourable Stacy Mather, Junior Minister Honourable Lorna G. Smith, OBE, and Deputy Premier Honourable Julian Fraser of Progressive United.

This configuration provides the Government with increased legislative flexibility and resilience, particularly on contentious or reform-oriented legislation. It also reduces the likelihood of gridlock by enabling consensus-building across traditional political lines.

From a governance perspective, the shift enhances stability at a time when the Territory faces mounting social and economic pressures. From a political standpoint, it introduces a new model—one where independence and collaboration coexist within executive authority.

Business

Hon. Lorna G. Smith, OBE, Recognised as Pioneer of VI’s Diplomacy

Published

4 months ago

October 23, 2025

Editor

Twelve Leaders Celebrated for Shaping the Virgin Islands’ International Relations Landscape

Honourable Lorna G. Smith, OBE, was celebrated for her trailblazing contributions to the Virgin Islands’ international relations and diplomacy during a gala ceremony held at Scrub Island Resort on Oct. 21. The event marked the official launch of Diplomatic Week 2025, hosted by the International Affairs Secretariat (IAS), under the theme “From Island Shores to Global Doors.”

Honourable Smith was presented with the Pioneer Award, the evening’s highest honour, in recognition of her pivotal role in establishing and advancing the Virgin Islands’ global presence during the formative years of its international engagement. From the early 1990s through 2008, she was instrumental in strengthening diplomatic ties, building relationships across London, Brussels, Hong Kong and beyond, and shaping the development of the Territory’s financial services sector.

Currently serving as Junior Minister for Financial Services, Economic Development and Digital Transformation, Honourable Smith expressed deep gratitude for the recognition, reflecting on her journey and those who encouraged her to pursue international relations.

“I am deeply humbled by this honour,” she said. “These are very challenging times for us. We are seeing a situation where might seems to be right, and we have to fight against that. Might cannot always be right. In terms of the future, the future for the Virgin Islands in diplomacy is bright.”

Honourable Smith also commended the efforts of the Virgin Islands’ Hong Kong and London Offices in preparing young diplomats for the future, while expressing hope that similar initiatives will expand within the Territory.

The gala also recognised eleven other past and present diplomatic leaders for their distinguished service to the Virgin Islands: Dr. Sandra Besson, Ms. Tracy Bradshaw, Ms. Najan Christopher, Ms. Dwynel Davies, Ms. Elise Donovan, Mr. Kedrick Malone, Ms. Sylvia Moses, Ms. Sherri Ortiz, Honourable Dawn Smith, Mrs. Hadassah Ward-Fraser, and Dr. Ricardo Wheatley.

Acting Director of the IAS, Ms. Dwynel Davies, noted that Diplomatic Week highlights the vital work of those who represent the Virgin Islands internationally.

“Diplomatic Week showcases and deepens our understanding of the vital work that goes into representing our Territory on the international stage,” she said. “International relations and diplomacy are essential tools to build meaningful partnerships, advocate for our unique needs, and share our perspectives with the world.”

Premier Honourable Dr. Natalio D. Wheatley also underscored the Territory’s growing voice on the global stage.

“As an international financial center with connections that span continents, it is essential that we continue to represent ourselves and our interests in the global arena—not through others, but with our own voice—as we continue to do now with greater confidence,” he said.

Diplomatic Week 2025 continues throughout the week with activities including the Caribbean UK Overseas Territories Caucus Meeting (Oct. 21–23), a panel discussion on “Our Place in the World: The Evolving Diplomacy of Overseas Territories” on Oct. 22, and school outreach sessions on Oct. 23–24.