Got TIPS or BREAKING NEWS? Please call 1-284-442-8000 or Email ALL news to:newsvino@outlook.com; ads call 1-284-440-6666

News

August 14th, 2018
Re-balancing the VI economy in wake of 'Public Registers Decision'

By E. Benito Wheatley

There are very serious economic and financial implications for the Virgin Islands (VI), as a consequence of the United Kingdom's (UK) decision, to impose public registers of beneficial ownership (public registers) on the Overseas Territories (OTs).

May 7th, 2018
Taking away financial services a ‘human rights’ issue- Premier Smith

ROAD TOWN, Tortola, VI- “Here we are as a Territory, we had one of the most severe natural disasters in a hundred years in the Caribbean and the BVI took the brunt of it. We had three things; flooding, plus Hurricanes Irma and Maria, which, left the Territory devastated. I think it was against human rights provisions to be able to now go and say we are going to take away the other part of your economy.”

April 12th, 2016
Premier Smith yields to UK pressure on Beneficial Ownership Register

ROAD TOWN, Tortola, VI – With the Panama Papers scandal casting a negative light on the Virgin Islands and the UK continuing to put pressure on its overseas dependencies to open up access to Beneficial Ownership Information even while British PM David Cameron faces harsh criticisms and protests against his involvement and benefiting from the offshore industry, Premier and Minister of Finance Dr The Honourable D. Orlando Smith has yielded and signed Exchange Notes on Beneficial Ownership Information.

April 1st, 2015
Offshore companies against creation of 'central registry'

PASEA, Tortola, VI – Acting Permanent Secretary in the Office of the Premier Mr Brodrick Penn said that there are concerns among stakeholders in the financial services sector regarding cost and security implications of establishing a central registry of beneficial ownership information as is being requested by the UK Government.

March 28th, 2015
VI on US 'money laundering' list- Report

ROAD TOWN, Tortola, VI – The Virgin Islands features on the latest United States’ Department of State International Narcotic Control Strategy Report: Vol 2 – ‘Money Laundering and Financial Crimes’, which alleged that there are significant money laundering risks due to the exploitation of the territory’s financial services and lack of mandatory filing of ownership information.

Weather


Follow Us On