The British Virgin Islands government is set to announce on Monday, September  30, the removal of visa restrictions for citizens of Guyana, according to a source close to the Premier’s Office.

This change will enable travellers from the resource-rich South American nation to visit the British overseas territory without the need for a visa.

Discussions regarding this new development took place during a 2023 trade mission to Guyana led by Deputy Premier and Minister for Financial Services, Labour, and Trade, Lorna Smith.

“I’ve had discussions with the Premier. In fact, I’ve asked him very directly about the visa situation because Guyanese do require a visa to visit the BVI. He has authorised me to say that we are considering lifting that requirement, and I expect that to happen very soon,” Smith remarked last year, while noting the BVI’s commitment to establishing stronger economic ties with Guyana.

The decision follows a two-year period since the United Kingdom lifted visa entry requirements for Guyanese nationals.

Guyana’s burgeoning economy, largely driven by its substantial oil reserves, has attracted global interest from countries eager to engage with the only English-speaking country in South America.

Notably, on September 27, it was announced that Guyana and the United Arab Emirates (UAE) had signed a Memorandum of Understanding (MoU) to establish a mutual visa-free travel agreement during the 79th Session of the United Nations General Assembly in the United States.

With a population of just over 700,000, Guyana has emerged as the world’s fastest-growing economy following a major oil discovery in 2015 by ExxonMobil.

The International Monetary Fund (IMF) reported a staggering GDP growth rate of 62.3% in 2022, marking the highest real GDP growth globally for that year.

By early 2024, the country had ramped up its crude oil production to 645,000 barrels per day.

The former British colony’s recoverable oil and natural gas resources are estimated at over eleven billion oil-equivalent barrels, with further explorations ongoing in its offshore waters.

Since then, ExxonMobil, alongside partners Hess and the China National Offshore Oil Corporation (CNOOC), has identified more than thirty additional offshore discoveries in the Stabroek block.

As of September 2024, the BVI has a population of 39,534, according to United Nations estimates. Among this diverse population, Guyanese nationals make up approximately 7.2%.

Guyanese individuals have a long history of migrating to the BVI, contributing to various sectors such as education, tourism, media, and healthcare.