White Bay Beach, located on the small island of Jost Van Dyke in the British Virgin Islands, was recently featured in a travel article on MSN.com, highlighting its reputation as one of the Caribbean’s top destinations.

The article describes the beach’s white sands, clear turquoise waters, and the lively beach bars along its shore. Accessible mainly by boat, White Bay is a popular stop for yachters and day-trippers. Many visitors anchor offshore and swim to the beach to enjoy its attractions.

Among the well-known spots mentioned is the Soggy Dollar Bar, famous for creating the Painkiller cocktail, a mix of dark rum, coconut cream, and tropical juices topped with nutmeg. Other featured locations include Hendo’s Hideout, known for its Caribbean cuisine, and Coco Loco, praised for its fish tacos.

White Bay also offers activities such as snorkeling, paddleboarding, and kayaking. The coral reef just offshore is home to diverse marine life, making it a draw for water enthusiasts. Visitors looking for relaxation can also experience the Ocean Spa, which provides massages in a floating hut on the bay.

Accommodations near White Bay range from private villas to larger estates, many with ocean views. The Hideout, featuring seven villas with private plunge pools, and White Bay Villas, offering various lodging options with access to the White Bay Beach Club, were also highlighted.

The MSN.com feature showcases White Bay Beach’s combination of natural beauty and vibrant culture, reinforcing its status as a must-visit destination in the Virgin Islands.

Photo: www.scmp.com

The British Virgin Islands (BVI), a long-standing jurisdiction for company incorporations, particularly among firms from Hong Kong and mainland China, is considering the feasibility of implementing a global minimum tax rate. The government has enlisted consulting firm KPMG to assess the impact of such a move, with findings expected next month, Premier and Finance Minister Natalio Wheatley confirmed.

The global minimum tax, set at 15 per cent, applies to multinational corporations generating at least €750 million (US$788 million) in annual revenue over two of the previous four years. Under international tax agreements, jurisdictions failing to impose the requisite tax rate may see other countries applying top-up levies on corporations operating within their borders. More than 130 jurisdictions, including the BVI and Hong Kong, have endorsed the initiative.

“Once we receive KPMG’s analysis, we will be in a position to determine whether adopting the global minimum tax is a viable course of action for the Virgin Islands,” Wheatley said.

The Premier arrived in Hong Kong on 16 February as part of an Asia-Pacific tour aimed at reinforcing the territory’s engagement with key financial markets. His itinerary included stops in Macau and Shenzhen, where he met with business leaders, industry representatives, and BVI students pursuing higher education in the region.

The BVI, a British Overseas Territory, has long been a preferred destination for company registrations due to its tax-neutral status, offering no corporate or capital gains taxes. The territory remains a major player in global finance, with approximately 375,000 active companies incorporated within its jurisdiction. Nearly 44 per cent of these are linked to Hong Kong, Macau, and mainland China, according to official figures.

The UK-based advocacy group Tax Justice Network ranked the BVI as the world’s leading tax haven as of October 2024. The group reported that nearly 2.9 per cent of multinational corporate financial activity in 2024 either originated from or flowed through the BVI.

Despite growing international scrutiny and competition, particularly from Hong Kong, Wheatley expressed confidence in the BVI’s enduring appeal to global investors. Hong Kong recently introduced regulatory reforms aimed at simplifying the redomiciliation of overseas companies, positioning itself as an alternative jurisdiction for incorporation. However, Wheatley emphasised the BVI’s well-established legal framework, experienced financial services sector, and streamlined incorporation processes.

“In the British Virgin Islands, a company can be registered within 24 hours while maintaining full compliance with international regulatory standards,” he said. “There is no need to shift from a jurisdiction that continues to meet business needs effectively.”

Meanwhile, the UK government has recommended expanding access to beneficial ownership information in the BVI beyond law enforcement agencies to parties with “legitimate purposes.” The BVI government is conducting consultations to define what constitutes a legitimate purpose, with a decision expected by June.

“We value our longstanding relationships with stakeholders in mainland China, Hong Kong, and Macau and will continue fostering an environment that supports business growth while adhering to international obligations,” Wheatley said.

The territory remains focused on balancing its economic interests with evolving global financial standards.

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UNAIDS Executive Director Winnie Byanyima warns that the recent U.S. decision to halt foreign aid could lead to a sixfold increase in new HIV infections by 2029, potentially resulting in millions of deaths and the emergence of more resistant strains of the virus.

The U.S. administration’s 90-day suspension of foreign assistance, initiated by President Donald Trump as part of an “America First” policy, has disrupted numerous global health initiatives. This pause affects programs funded by the President’s Emergency Plan for AIDS Relief (PEPFAR), a cornerstone in the global fight against HIV/AIDS.

Byanyima stressed the gravity of the situation, stating that without U.S. support, projections indicate a significant surge in HIV cases and related fatalities. She urged the U.S. government to reconsider its stance, highlighting the potential global health crisis that could ensue.

The aid freeze has already led to the closure of several organisations reliant on PEPFAR funding, particularly in Africa. The United Nations AIDS program reported that many such entities have ceased operations due to the funding halt and a lack of clarity regarding exemptions.

In response to the suspension, advocacy groups have taken legal action against the administration. Public Citizen, a liberal-leaning organization, filed a lawsuit challenging the legality of the aid freeze, arguing that it endangers lives worldwide. The lawsuit represents organisations severely impacted by the funding halt, including those providing healthcare and humanitarian assistance.

The U.S. State Department, led by Secretary of State Marco Rubio, has defended the pause, asserting that it is necessary to review foreign aid spending in alignment with the administration’s policies. However, critics warn that this move could damage the U.S.’s reliability as a global partner and potentially push aid-receiving countries towards rivals like China.

The situation remains fluid, with global health experts and humanitarian organisations closely monitoring the developments. The potential resurgence of HIV/AIDS underscores the critical importance of sustained international support and the far-reaching consequences of policy decisions on global health initiatives.