Unite BVI has officially launched the 2024 KickStart BVI Small Business Loan Programme, an initiative aimed at bolstering the British Virgin Islands’ economic growth by supporting local entrepreneurs with financial aid and resources. This year’s programme continues its commitment to fostering social impact businesses that contribute positively to the community or environment. The KickStart BVI… Continue reading Unite BVI Launches 2024 KickStart BVI Small Business Loan Programme
Category: Business
Farewell from Quito’s Gazebo and Luxury Inn: A New Chapter Begins After 43 Years
Quito’s Gazebo and Luxury Inn, is transitioning to new ownership after 43 remarkable years. The venue, renowned for its vibrant atmosphere and pivotal role in the local music scene, is embarking on a new chapter. The announcement, made through a heartfelt post on their Facebook page, expressed gratitude for the support and memories shared over… Continue reading Farewell from Quito’s Gazebo and Luxury Inn: A New Chapter Begins After 43 Years
CIBC Caribbean Hosts 2nd Annual Mortgage Workshop in Tortola
CIBC Caribbean hosted its second annual “Let’s Get You Home” mortgage workshop on 26 June, providing invaluable insights into the property purchasing and construction process in the British Virgin Islands. The event, held after hours at the bank in Road Town, brought together industry professionals and eager homebuyers. Representatives from various sectors, including architects, surveyors,… Continue reading CIBC Caribbean Hosts 2nd Annual Mortgage Workshop in Tortola
Minimum Wage to Increase to $8.50 Per Hour Starting November 2024
Deputy Premier and Minister for Financial Services, Labour, and Trade, Honourable Lorna Smith, OBE, confirmed that the Territory’s minimum wage minimum wage will rise to $8.50 per hour effective 30 November 2024.. Honourable Smith explained that this wage adjustment is a key component of a broader, multi-faceted economic strategy. “This decision reflects our commitment to… Continue reading Minimum Wage to Increase to $8.50 Per Hour Starting November 2024
BVI Deputy Premier Unveils MSME Grant Programme and Business Banking Expo Initiative
Deputy Premier and Minister for Financial Services, Labour and Trade, Lorna G. Smith, OBE, revealed plans for a Micro, Small, and Medium Enterprises (MSME) Grant Programme during a press conference held on April 4. Against the backdrop of discussions encompassing minimum wage, labour management systems, business development programmes and financial services diversification, Deputy Premier Smith… Continue reading BVI Deputy Premier Unveils MSME Grant Programme and Business Banking Expo Initiative
Republic Bank Introduces Exclusive Vertical Mastercard Black Credit Card
Republic Bank unveiled its latest offering, the prestigious vertical Mastercard Black credit card, solidifying its commitment to exceptional financial services. The announcement, made in partnership with Mastercard, marks a significant milestone for the pan-regional bank and sets a new standard for premium credit card experiences. The Mastercard Black credit card represents the pinnacle of Republic… Continue reading Republic Bank Introduces Exclusive Vertical Mastercard Black Credit Card
Work Permit Exemptions for Short-Term Service Providers Expanded
The government has announced simplified work permit requirements for specific categories of individuals providing short-term services in the Territory. This initiative, in alignment with the Labour Code, grants exemptions to certain individuals, eliminating the need for extensive processing of work permit applications or waivers. Honourable Lorna G. Smith, OBE, Minister for Financial Services, Labour, and… Continue reading Work Permit Exemptions for Short-Term Service Providers Expanded
Delay in Deployment of Payment Module for BVI Fars Portal Raises Inquiries
The International Tax Authority (ITA) has faced a surge in inquiries regarding payment procedures through the BVI Fars portal. While the original plan was to launch the payment component in January 2024, unforeseen circumstances have led to a delay in its deployment. As a result, the ITA urges users to continue fulfilling their filing obligations… Continue reading Delay in Deployment of Payment Module for BVI Fars Portal Raises Inquiries
BVI Sees Record Tourism Numbers in January
In January, the British Virgin Islands experienced a remarkable surge in tourism, welcoming 143,780 passengers compared to 96,613 in January 2023. This significant increase has been attributed to the growing appeal of the British Virgin Islands as a premier cruise destination. Today, the BVI Ports Authority (BVIPA) convened a meeting with local cruise stakeholders to… Continue reading BVI Sees Record Tourism Numbers in January
BVI Financial Sector Shines with 2023’s Complex Cross-Border Transactions
Throughout 2023, the British Virgin Islands (BVI) financial services sector through a series of intricate cross-border transactions, showcased its strength and depth of expertise on the global stage. Amidst the year’s challenges, BVI firms were at the forefront of numerous high-value, sophisticated transactions spanning IPOs, acquisitions, restructurings, and more. Furthermore, the BVI solidified its position… Continue reading BVI Financial Sector Shines with 2023’s Complex Cross-Border Transactions