Politics
BVI confident it has met OECD requirements

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.
Local News
Premier Wheatley Congratulates Turks and Caicos Leader on Election Victory

Premier of the Virgin Islands, Hon. Dr. Natalio Wheatley, has extended his congratulations to Hon. Charles Washington Misick following his victory in the recent general elections in the Turks and Caicos Islands.
In a letter sent on Monday, Premier Wheatley acknowledged the strong mandate given to the Turks and Caicos leader by the people, describing it as a clear endorsement of his leadership. “The overwhelming support given to you by the people of the Turks and Caicos Islands is a testament to the confidence and trust placed in your leadership,” Wheatley wrote.
As Premier Misick begins his new term, Hon. Wheatley offered his best wishes for the successful implementation of national initiatives. “I wish you and your team a successful term in office as you work tirelessly to secure the political, social, and economic development of the Turks and Caicos Islands for the citizens,” he stated.
The BVI Premier, who currently serves as President of the United Kingdom Overseas Territories Association (UKOTA), also expressed appreciation for Hon. Misick’s support in securing that position. “Please allow me to also take this opportunity to thank you for your support in my bid for the Presidency of UKOTA and express collective congratulations on your win on behalf of all the Overseas Territories,” he said.
Emphasising the importance of regional cooperation, Hon. Wheatley reiterated his commitment to strengthening ties between the Virgin Islands and the Turks and Caicos Islands. “I look forward to your continued collaboration and support as we continue to work together as Overseas Territories leaders for the betterment of our people and to strengthen the ties between our respective Territories,” he added.
The Government of the Virgin Islands remains focused on fostering strong partnerships with the Turks and Caicos Islands and other Overseas Territories to advance shared interests and address the unique needs of their communities.
Local News
Henry Prince Appointed District Officer for Virgin Gorda

Henry Prince has been appointed District Officer for Virgin Gorda, effective February 3. In this role, he will coordinate government activities on the island, oversee the management of the Government Administration Building, and serve as the primary point of contact for official inquiries.
Prince brings over two decades of leadership and managerial experience, having previously served as Director of Facilities at H. Lavity Stoutt Community College and Operations Manager at the Bitter End Yacht Club. His academic credentials include a Bachelor of Science in Hospitality and Tourism Management, a Level 7 Diploma in Strategic Leadership from the Chartered Management Institute, and a Graduate Certificate in University Teaching and Leadership.
Prince expressed his appreciation for the opportunity to serve the Virgin Gorda community, stating, “The role represents the Public Service’s commitment to maintaining a standard of excellence across the Virgin Islands, and I am delighted at the opportunity to contribute to this progress. I look forward to working and engaging with colleagues and the community in this capacity.”
As District Officer, he will collaborate with Sister Islands Programme Coordinator Monel Nickie, as well as District Officers Carmen Blyden of Jost Van Dyke and Shirley Vanterpool Evans of Anegada.
Permanent Secretary in the Office of the Deputy Governor, Sharleen DaBreo-Lettsome, MBE, welcomed Prince’s appointment, emphasizing the significance of the District Officer role in ensuring government services are effectively delivered to Sister Islands residents. “Mr. Prince is a valuable addition to the Sister Islands Programme Unit, and I am confident that his skills and experience will allow him to succeed in this role,” she said.
The Government of the Virgin Islands continues its commitment to the effective administration of the Sister Islands through the Sister Islands Programme Unit.
Local News
Premier Denies Talks with Lorna Smith on Rejoining Government

Premier and Minister of Finance Dr. Natalio D. Wheatley has denied having discussions with former Deputy Premier Hon. Lorna G. Smith, OBE, about rejoining the Virgin Islands Party (VIP) government in the House of Assembly.
Speaking to JTV today, February 6, following a contract signing for the territory’s inaugural Solar Technology and Energy program, Hon. Wheatley addressed speculation following a report suggesting he had been in talks with Smith. “I want all of them to come over, all of them—but no, I have not engaged Hon. Smith in any discussion about coming over,” he stated. However, the premier acknowledged reaching out to her for assistance on financial services matters.
Smith, who was dismissed from the government on October 23, 2024, has also refuted claims that she has returned to the VIP government.
“It is not true. I continue to serve the people of this territory to the best of my ability as an independent member of the Opposition,” Smith asserted. Pressed on whether she had ongoing discussions with the premier about rejoining the government, she declined to elaborate, saying, “I have no further comment.”
Smith, who was appointed Deputy Premier and Minister of Financial Services, Labour, and Trade after the April 2023 general elections, was removed from office via an official letter from Premier Wheatley that morning.
“At approximately 8:00 a.m. this morning, I received a letter from the Hon. Premier stating he requested that His Excellency the Governor revoke my appointment,” Smith said in a statement at the time.
Her departure resulted in Third District Representative Julian Fraser’s appointment as Deputy Premier. Fraser, a former VIP member and chairman of the Progressives United party, has aligned himself with the ruling VIP government. Wheatley defended the leadership change as a necessary step for ensuring stability.
“This is a necessary change to the composition of the government that provides my administration with political stability and a wealth of knowledge and experience which will serve us well over the course of this House of Assembly,” Wheatley said at the time. “Political stability is critical at this time to ensure we finalize the completion of governance reforms and effectively address the recommendations of the mutual evaluation report.”
Smith, initially elected as a Territorial-At-Large representative under the National Democratic Party (NDP), broke ranks to help form the VIP-led administration before ultimately resigning from the NDP.
ADVERTISEMENT:
-
Crime/Police2 weeks ago
Police Arrest Three in BVI Firearms Crackdown; One Charged with Possession
-
Uncategorized2 weeks ago
One Injured as Masked Gunmen Open Fire near Greenland Football Field
-
Uncategorized6 days ago
BVI Man Fatally Shot in Anguilla; Police Investigate Homicide
-
Uncategorized2 weeks ago
Gunman Arrested in Fatal Shooting of BVI Native Over Parking Dispute
-
Crime/Police2 days ago
Tensions Flare as Parents Confront Elmore Stoutt High School Staff Over Contraband Crackdown
-
Uncategorized1 week ago
Intruder Breaks into One Mart East End, Police confirm
-
Crime/Police4 days ago
BVI Native Trevor Hughes’ Fiancée Badly Beaten in Deadly Bronx Parking Dispute
-
Uncategorized2 weeks ago
RVIPF Refutes Allegations of Physical Confrontation Between Acting Commissioner and ACP Trevillion