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Some $13.99M generated in economy with yachts relocating to VI- Premier Wheatley

-said more than 90 yachts relocated to VI ahead of 2025/2026 tourist season
According to reports, more than 90 charter yachts relocated to the Virgin Islanda ahead of the 2025/26 tourist season. Photo: VINO
Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) gives the State of the Territory Address at Noel Lloyd Positive Action Movement Park on June 9, 2026. Photo: VINO
Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) gives the State of the Territory Address at Noel Lloyd Positive Action Movement Park on June 9, 2026. Photo: VINO
ROAD TOWN, Tortola, VI- The Virgin Islands is beginning to experience the benefits of yachts relocating to the Virgin Islands from the US Virgin Islands since the hiking of charter yacht fees on foreign based vessels.

Speaking at the State of the Territory Address at Noel Lloyd Positive Action Movement Park on June 9, 2026, Premier Dr the Hon Natalio D. Wheatley (R7) said more than 90 charter vessels relocated to the Virgin Islands ahead of the 2025/2026 cruising season.

According to the Premier, the vessels relocating generated "an estimated $13.99 million in direct seasonal economic activity for marinas, provisioning companies, cleaning services, restaurants and local businesses."

New fees 

The new fee structure came into effect following an amendment to the Commercial Recreational Vessels Licensing Act.

For unrestricted foreign vessels under 115 feet, the annual licensing fee rose from $800 to $24,000.

Additionally, USVI-based vessels traveling to the VI are now limited to about 7 visits per season, with stays generally capped at 4 days and 3 nights per entry.

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