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Topic: British Virgin Islands
The outgoing governor of the British Virgin Islands has established a commission of inquiry in response to allegations of widespread political corruption, misuse of public funds and intimidation in the islands.
A record 2.35 tonne haul of cocaine worth more than $250 million has been discovered in the British Virgin Islands after a covert operation that led to the arrest of one local police officer, the islands’ police force said.
EY has donated $200,000 to Hurricane Dorian relief efforts in the Bahamas. Leadership of the EY region of the Bahamas, Bermuda, British Virgin Islands and Cayman Islands will donate $100,000, with EY Americas matching that figure, to the Bahamas National Emergency Management Authority (NEMA).
The Tax Justice Network has placed the British Virgin Islands, Bermuda and Cayman at the top of a list that the tax campaigners call “the 10 most corrosive tax havens in the world”.
The former opposition Virgin Islands Party won eight of the 13 legislative seats in the British Virgin Islands during Monday’s elections, unseating a National Democratic Party that had controlled government there since 2011.
Gross domestic product grew by 1.8 percent in 2018, and is expected to grow another 2 percent this year, according to recently released statistics from the Caribbean Development Bank.
The British Virgin Islands’ parliament dissolved on Wednesday, and elections there are scheduled for Feb. 25.
The Netherlands has compiled a new list of 21 low-tax jurisdictions, including the Cayman Islands, to fight tax evasion, according to the Dutch ministry of finance.
The extent to which Cayman’s recent tourism boom has come at the expense of its hurricane-hit neighbors is spelled out in a new regional hospitality market report.
British Overseas Territories that suffer serious economic decline after a natural disaster could qualify for official development assistance under new international aid rules.
Offshore law firm Carey Olsen has appointed Bernadette Carey to head its trusts and private wealth practice across the British Virgin Islands and Cayman.
The United Kingdom is prepared to flout international aid guidelines and change its own legislation in order to use its foreign aid budget to assist hurricane-hit territories in the Caribbean, according to reports in the U.K.
If a proper course is set, the BVI can emerge as a truly modern society whose per capita income is high, infrastructure world-class and resilient, economy diversified, environment preserved, communities flourishing and people empowered.
Last week, the British Virgin Islands held a grand opening for the Bank of Asia, an institution that offers banking services to the territory’s roughly 200,000 BVI-registered businesses with ties to Asia.
Barry Rassin of the Rotary Club of East Nassau in New Providence, Bahamas, became the president of the Rotary International, this month.
Voices of discontent over British rule are growing louder across the U.K.’s overseas territories in the wake of the controversial decision to mandate public beneficial ownership registries.
More than 1,000 British Virgin Islands residents took to the streets to protest the United Kingdom on Thursday, the same day Queen Elizabeth II gave royal assent to legislation that forces British Overseas Territories to implement public company registers by December 2020.
A series of legal battles spanning nearly 30 years and at least four jurisdictions, including the Cayman Islands, continues to have ramifications for the parties involved.
After an external audit by BSI Group (The British Standards Institution) the Deloitte offices in the Cayman Islands, Bahamas, Barbados, Bermuda, British Virgin Islands and Trinidad and Tobago are now certified as ISO 27001 compliant organizations.
While Cayman and its elected leaders slept during the early morning hours of May 1, a cabal of British politicians gathered with the explicit intent of doing great harm to these Cayman Islands – the very islands which, through tradition and law, they are entrusted to protect.
Irma’s damage proving to be worse than Ivan’s
Cayman’s company formations sector grew in 2017, with the number of new incorporations and total companies on the registry having increased at the year’s end over 2016.
The total number of active companies in the seven major offshore jurisdictions declined in 2017 for the first time in 25 years, according to research conducted by corporate service provider Vistra.
Financial services workers who were evacuated from the British Virgin Islands after last September’s hurricanes should return there by the end of March, BVI Governor Gus Jaspert said last week during his Speech from the Throne.
The Cayman Islands Red Cross has raised US$329,000 to help Caribbean jurisdictions hurt by last September’s hurricanes, with half the funds coming from one anonymous donor, the organization announced last week.
The U.K. government is facing a cross-party backlash for its failure to intervene as Bermuda became the first territory in the world to “repeal“ gay marriage rights.
Rules governing international aid targets that prevented the U.K. from spending its foreign development aid budget on hurricane-hit territories in the Caribbean are being reviewed.
The final six Royal Cayman Islands Police Service officers who assisted with security efforts in the British Virgin Islands post Hurricane Irma are set to come home next week.
The Alliance of BVI Professional Services Businesses has announced that it will be making a US$100,000 joint donation to support humanitarian relief work in the British Virgin Islands.
On Dec. 5, 2017 – just three weeks hence – our sovereign, the United Kingdom, will vote on whether to accede to the calumny of the European Union and blacklist in financial markets several of its own territories, most notably the Cayman Islands, Bermuda, the Channel Islands and the British Virgin Islands.
Following a month spent helping restore basic services to the hurricane-ravaged British Virgin Islands, Danielle Coleman of Hazard Management Cayman Islands says full recovery is likely to take more than a year.
A third contingent of 16 Royal Cayman Islands Police Service officers left for the British Virgin Islands on Thursday after the second contingent returned to Cayman that morning, according to RCIPS Media Relations Officer Mikhail Campbell.
Dauria Wattley, a 12-year-old British Virgin Islands evacuee staying in Frank Sound and attending Triple C school in George Town, knows well the effects of a hurricane after seeing her hometown in British Virgin Islands battered first by Hurricane Irma and then by Hurricane Maria.
Fiduciary and administration services provider Estera has raised more than $10,000 to donate to colleagues in its British Virgin Islands office following the devastation of hurricanes Maria and Irma.
A fresh contingent of Royal Cayman Islands Police officers headed to the British Virgin Islands Monday morning, replacing the 16 officers who have been in the stricken eastern Caribbean territory for the past three weeks.
A continued foreign police and military presence will be maintained in the British Virgin Islands, including a contingent of Cayman Islands police officers, Cayman Islands Governor’s Office Chief of Staff Matthew Forbes told the Cayman Compass on his return from a two-week foreign office mission in the BVI.
Hurricane Maria smashed into Dominica with 160 mph winds, ripping the roof off even the prime minister's residence and causing what he called "mind-boggling" devastation Tuesday.
A delegation of the Royal Cayman Islands Police Service has been on the ground for five days in the British Virgin Islands, and on Thursday it went a long way toward re-establishing security on Tortola.
When Premier Alden McLaughlin first stepped on the ground of hurricane-ravaged Anguilla on Tuesday afternoon, he said he had a flashback to September 2004. “It brought back in a rush the images, smells and feelings of the aftermath of Ivan."
The devastating destruction caused by Hurricane Irma in parts of the Caribbean is expected to result in billions of dollars of insured losses, but the economic damage is likely to be much worse, analysts say.
With many essential services in the British Virgin Islands still out of commission in the wake of Hurricane Irma, numerous corporate services providers are pulling their employees out of the territory.
Still reeling from Hurricane Irma, residents in the U.S. Virgin Islands and British Virgin Islands were expecting the worst on Saturday in the midst of reports that the territories would also be hit by the Category 4 Hurricane Jose that night.
After Hurricane Irma flattened homes throughout the British Virgin Islands when it struck the territory on Wednesday, untold hundreds of residents have had to seek refuge in churches, schools and other public shelters.
When offshore financial centers receive criticism for being “tax havens,” they often counter by pointing to larger countries in Europe and elsewhere that practice many of the same policies decried by the international community.
Industry representatives in the British Virgin Islands are shouting it from the rooftops: BVI’s financial services sector is a boon to the global economy.
An economic impact report commissioned by BVI Finance has concluded that the British Virgin Islands brings a substantial net benefit to governments worldwide.
Two Caymanian entrepreneurs showcased their businesses at the Summer Sizzle Fashion and Lifestyle Weekend in the British Virgin Islands this month.
Ministers from the Cayman Islands and seven other overseas territories will meet in Turks and Caicos this week to address issues ahead of the Joint Ministerial Council meeting in London this fall.
More than 300 people have sued a British Virgin Islands funds trader, its associated entities and the Cayman Islands-based dms Bank & Trust Ltd., seeking the location and repayment of tens of millions of dollars they believed was going to be invested in foreign currency trades.
A police corruption probe in the British Virgin Islands is proceeding under new leadership following the departure of Royal Cayman Islands Police Commissioner David Baines.
A visit to Cayman last week by the British Virgin Islands health minister marks the final stage of an agreement to bring between 300 and 500 patients annually to Health City Cayman Islands.
A corruption investigation in the British Virgin Islands led by Royal Cayman Islands Police Commissioner David Baines put three BVI-based officers in court Tuesday.
More than 200 offshore companies, the majority registered in the Cayman Islands, completed their initial public offerings in 2015. The number of IPOs involving companies...