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Financial Institutions to Prepare for Common Reporting Standards 2.0 Requirements
The Virgin Islands will implement the OECD’s updated Common Reporting Standard (CRS 2.0) effective 1st January 2026, requiring Financial Institutions to collect new data throughout 2026 and submit it to the International Tax Authority by May 2027. Key changes include expanded definitions to cover digital products, crypto-assets, and Central Bank Digital Currencies (CBDCs), enhanced due diligence procedures, and clarified reporting requirements. These updates align with the Mutual Legal Assistance (Tax Matters) Act, Revised Edition 2020. The Virgin Islands has also committed to adopting the Crypto-Asset Reporting Framework (CARF) by 2028.
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VI Government Seeks Competitive Security Company
26th March 2026 VI Government Seeks Competitive Security Company The Government of the Virgin Islands is seeking professional service from a qualified and reputable security company to Supply Security Services for the Transportation of Government Funds from various revenue collection sites on Tortola, Virgin Gorda, Anegeda, and Jost Van Dyke for a period of two (2) years.
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BVI Introduces Revised Sanctions Guidelines to Strengthen Compliance and Enforcement
The British Virgin Islands has introduced revised Financial Sanctions Guidelines, effective from December 31, 2024. These guidelines provide comprehensive instructions for individuals, businesses, and financial institutions to comply with international sanctions. Key updates include asset freezing obligations, reporting requirements, and revisions to licensing procedures. The Virgin Islands Sanctions Unit oversees compliance and inquiries. A virtual session will be held to further guide stakeholders, and the updated guidelines are available on the FSC and FIA websites.
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VI Youth Shines at OECS Agriculture Meeting in Costa Rica
Two young Virgin Islands farmers, Marley Donovan of Aukie’s Farm and student Basheera Maduro, represented the Territory at the OECS Council of Ministers for Agriculture meeting in Costa Rica from May 26 to 30. Accompanied by Honourable Dr. Karl Dawson, the farmers participated in workshops and farm tours focused on climate resilience, modern techniques, and market strategies. They highlighted the value of regenerative agriculture and technology in farming. The meeting addressed key challenges facing young farmers and proposed solutions such as mentorship, agro-processing development, and access to funding. The Virgin Islands Government reaffirmed its commitment to supporting youth in agriculture and welcomed the establishment of the OECS Agriculture Forum for Youth.
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Official Statement by Honourable Sharie B. de Castro Minister for Education, Youth Affairs and Sports on the 75th Anniversary of the Legislature of the Virgin Islands
Mr. Speaker, Honourable Members, Honourable guests in the gallery, people of these Virgin Islands, good morning. Every time I walk into this House, I feel the weight of history. And today, as we commemorate the 75th anniversary of our Legislature, that weight feels especially profound. I think of my forefather, Captain Carlton deCastro — one of the first men to sit in this chamber when the Legislative Council was restored in 1950. A sea captain by trade — steady at the helm, calloused hands gripping the wheel, eyes fixed on the horizon, steering through both calm and storm.
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Visible White Plume In Road Town Assessed
On 26th February, the Environmental Health Division, at the request of the Ministry of Communications and Works, assessed the visible white plume from the Norwegian Epic. Measurements for carbon dioxide, volatile organic compounds, particulate matter, and carbon monoxide were taken to ensure air quality was not compromised. All readings were within normal ranges, ensuring safety. The plume was identified as water vapor from the ship's Exhaust Gas Cleaning System (EGCS), which reduces sulfur oxide emissions to meet international standards. The ship's Environmental Officer cooperated fully, providing necessary documentation. It was recommended that the ship switch to low-sulfur fuel while at berth, and the officer agreed to consider this on future visits. The Ministry continues its commitment to maintaining reliable infrastructure and a healthy environment.
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Plans Announced for National Emancipation Festival Summit
The Government of the Virgin Islands, through the Ministry of Tourism, Culture, and Sustainable Development has announced plans to host a National Emancipation Festival Summit later this year. The summit will bring together stakeholders and the wider public to discuss the future of the Territory’s premier cultural celebration.
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Statement by the Minister of Communication and Works- Water as a National Critical Priority
Minister for Communications and Works, Hon. Kye M. Rymer, addressed the Virgin Islands’ ongoing water crisis, acknowledging residents' struggles and declaring water a national critical priority. He announced a $8 million allocation for urgent infrastructure repairs under a broader $100 million loan, with a strategic plan focusing on leak reduction, pressure management, reservoir upgrades, and modernisation. The government aims to improve water reliability, quality, and transparency while engaging local talent and international partners. A temporary water incentive plan is also in development to support affected households.
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2025-2056 School Year – Full STEAM Ahead: Future Focused, Student Centered Professional Day 2025 — “Change is the Currency” By Honourable Sharie de Castro Minister for Education, Youth Affairs and Sports
Three years ago, when we began this journey, I encouraged you to give more, to get change.
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17 Achievements in Infrastructure Outlined in 2025 Territorial Address
Premier and Minister of Finance Honourable Dr. Natalio Wheatley has reported significant progress across various sectors in 2024, highlighting achievements that support a stronger and more sustainable Virgin Islands. Delivering his 2025 Territorial Address under the theme “Planning, Priorities and Progress (2024) and Laying the Blocks of Success (2025) Building a Sustainable Nation,” Premier Wheatley cited road repairs, water and sewage upgrades, the launch of a payment portal, electrical infrastructure improvements, and legislative advancements, including steps toward expanding the Terrence B. Lettsome International Airport. He described 2024 as a year marked by resilience and innovation, with efforts aligning with the National Sustainable Development Plan’s six goals: Economy, Infrastructure, Health and Wellness, Education and Learning, Environment, and Good Governance & Leadership. The full address is available on the Government’s website and Facebook page, and residents are encouraged to participate in a public satisfaction survey.