A Tax Information Exchange Agreement is the legal instrument that provides the framework for the exchange of information upon request only between two Governments. Each TIEA signed between the Government of the Virgin Islands and the Government of a partner jurisdiction, shall be brought into force in accordance with the provisions of the Mutual Legal Assistance Tax Matters Act, 2003 as amended, by issuing an Order made by the Minister of Finance. All TIEAs negotiated by the Government of the Virgin Islands, outlines a strict criteria to ensure that fishing expeditions are not carried out. Any information sought under the TIEA must be directly relevant to the tax affairs of a given taxpayer, in the requesting jurisdiction.
An Apostille is the legalisation of public documents. It is a certificate issued by competent authority of the State (such as Deputy Governor), which certifies the authenticity of the signature, the capacity in which the person signing the document has acted and, where appropriate, the identity of the seal or stamp which it bears.
Automatic exchange of information is the systematic and periodic transmission of “bulk” taxpayer information by the source country to the residence country (i.e. where the taxpayer is resident for tax purposes). The information generally exchanged on an automatic basis relates to financial information. However, automatic exchange of information can also be used to transmit other types of useful information such as change of residence.
Presently the Government of the British Virgin Islands has an obligation to exchange information automatically under the following Agreements:
- The European Union Council Directive 2003/48/EC (brought into force in 2005)
- The Convention on Mutual Administrative Assistance in Tax Matters (extended to the Government of the British Virgin Islands by the Government of the United Kingdom and brought into force as of March, 2014)
- The Agreement between the Government of the British Virgin Islands and the Government of the United Kingdom of Great Britain and Northern Ireland to improve International Tax Compliance – UK FATCA (signed in November, 2013)
- The Agreement between the Government of the British Virgin Islands and the Government of the United States to improve Tax Compliance and to implement the Foreign Account Tax Compliance Act – US FATCA (signed in June, 2014)
In accordance with each Agreement, all eligible Financial Institutions or paying agents would be required to submit the relevant information to the Government of the Virgin Islands on an annual basis and in turn the Government of the Virgin Islands would exchange the information with the specific partner jurisdiction.
Business Continuity is more than just "disaster recovery"b it is about prevention of loss, and preparing of loss, and preparing or disruptive incidents that may cripple an organization's functionality which may lead to the temporary or permanent business closure. A Business Continuity Management Survey conducted in 2013 in association with the British standards Institution (BSI) indicated that the average cost to manage in UK organizations that were asffected by the snow of early 2013 was approximately US $80,000. The most common effects of this disruption were staff being unable to report to work due to travel difficulties or closures in school/ childcare, and business meeting cancelled. A Business Continuity Plan can help can help when faced with these kinds of distruption. Business Sector Plan templates are available on the Department's website at www.bviddm.com
The Department of Disaster Management offers training in Business Continuity and Recovery Planning to local business. The H.Lavity Stoutt Community College also offers annual training in Business Continuity Management.
Community Service is where you put your values into action to make a difference where the need is greatest. Simply put, community service is unpaid work intended to help people in a particular area.
Development means that carrying out of building, engineering, mining or any other earth moving operations in, on, over or under our land. The making of material change in the use of a building or other land, the subdivision of land and the display of advertisements on any part of a building or land.
The Hazard Vulnerability Assessment Report primarily assesses the "susceptibility" of an area to a hazard. When sufficient information is available on the intensity and likelihood of such an event occurring, an indication of the level of "risk" is provided and recommendations are documented to guide angle of ut and to help reduce level of risk as much as poissible. The information provided in the hazard Vulnerability Assessment Report is as inclusive as possible enabling individuals to Validate their own assesment.
This report contains high level assessments of hazards relating to some natural or man-made events that man-made events that may affect this property. The report is based on geological mapping and scientific models. The report does not replace a site investigation or an emegineering report. The purpose of the hazard report is to provide a better understanding of the hazrads that may affect a property.
HVAs can be requested by Planning Authority, the Town and Country Planning Department or individual. Applicants can collect a form from the DDM office in MacNamara or download the Application Form from DDM's website (http://bviddm.com/document-center/HVA%20Form.pdf)
The cost for private development is US$75.00 and $250.00 for commercial development. The report will be completed within four (4 weeks) of submittal to the DDM. If further time is needed due to insufficient information or other defined reasons, the applicant will be contacted. For further information, please contact the Senior Technical Planning Manager at (284) 468-4200.
Hotel Aid refers to the benefits derived from a piece of incentive legislation for the hotel accommodations sector known as the Hotel Aid Ordinance (Cap 290) which enables qualified applicants to obtain a licence permitting them to import eligible items for the construction, equipping, extension or renovation of a hotel property, free of import duties.
The National Disaster Management Plan (NDMP) is a framework that promotes centralized coordination, control and effective collaboration in preparing for and providing immediate responses to the impact of Various hazards. The NDMP addresses the short and long term objectives of the National Emergency Organization (NEO), It is continuously strengthened and expand in its scope, content, memebership composition, administrative and policy guidelines, rescue, relief and recovery procedures, and in Regional and International relationships with similar organizations.
The NDMP has six (6) main parts.
- Base Plan (BP)
- Reponse Function Annexes (RF)
- Support Function Annexes (SF)
- Hazard Incident Annexes (HI)
- Specific Plans Annexes (SP)
- Mutual Aid Agreements Annexes (MA)
Simulation exercises are held frequeently to test the National Disaster Management Plan and the associated Annexes (MA)
Documents required are:
- A valid driver’s license from overseas.
- Passport to show that you are a tourist.
- Medical report for persons 70 years or older.
- You need to be a bona fied visitor to the territory.
Please note that only the Dept.of Motor Vehicle issues temporary driver’s license and not a Car Rental company.
- A Certificate of Survey confirming the change, with the fee for a new Certificate of Registry (Blue Book)
- Application to change the name, giving 3 names in order of priority
- Letter from the Mortgagee confirming ‘no objection’ to change of name.
- Fee to change the name and issue new Certificate of Registry.
If the owner intends to change the operation (use) of vessel, e.g. from "pleasure" to "commercial", a Certificate of Compliance issued under the rules of the respective Code of Practice, or other regulation must be submitted, with the fee for the new Certificate of Registry
- An original Certificate of Survey issued by one of the approved classification societies or organizations
- Payment of the fee for new Certificate of Registry (Blue Book)
- Application to register
- Declaration of Eligibility / Ownership
- Original Documents of Title/Ownership - Builder's Certificate/ Bills of Sale.
- Certificate of Survey and Tonnage Measurement issued by one of our Classification Societies. If the vessel is 24 metres or over in Load Line Length an International Tonnage Certificate (ITC69) is required
- Certificate of Incorporation (if a company is applying)
- Initial Registration fee: (Available on request, from Registry)
- If the ship is coming off a foreign register the deletion certificate which must also indicate the last owner of record.
- If ship coming off a Red Ensign Register the Closed Transcript and copy of original Certificate of Survey/Tonnage Certificate
- Any documents that are used to support an application and are in a foreign Language must be accompanied by a notarized translation into English language and it must be certified as correct by a notary public
- All applications must be accompanied with the appropriate fee. We can supply all the necessary forms at the Registry. When you apply to register your vessel, please provide a list of proposed names in order of preference. A list of fees and charges for registration are also available at the Registry.
- In the case of vessels whose beneficial owners do not reside in the BVI, a local Representative Person (RP) must be appointed. This appointee may be either a Body Corporate or an individual.
- Interior building works/ renovations.
- Infrastructure and utilities works by the Government.
- Agriculture and foretry activities.
- Gates, fences, walls or any other means of enclosure not exceeding four feet along the sea or a road and six feet in all other cases.
- Minor enlargements to existing dwelling houses (not exceeding one tenth of square footage of ground floor)
Pioneer Status refers to the status conferred on an individual or business when they have been declared a pioneer investor to engage in a pioneer enterprise or service by Cabinet under the Pioneer Services and Enterprises Ordinance (Cap 297).
The Pioneer Services and Enterprises Ordinance (Cap 297) was instituted to encourage investment in various sectors of enterprises and services to enhance the development of the Virgin Islands by providing tax and customs duty relief.
Pioneer status may be granted to pioneer investors to carry out a pioneer enterprise or service listed in the First Schedule to the Pioneer Services and Enterprises Ordinance allowing them to import into the Territory qualified materials free of customs duty for a period of up to ten years commencing on the date on which they have been declared to be a pioneer investor.
Pioneer investors can seek relief from Customs duties on articles being imported for the construction, alteration, reconstruction, extension or equipping of the pioneer works in relation to their pioneer service or enterprise. Duty will be applied to articles being imported if the Financial Secretary is of opinion that such articles are intended for the purpose of effecting repairs or replacing items in relation to the pioneer service or enterprise.
- Appointment of Authorized Officer
- Appointment of Representative Person
- Declaration of Eligibility
- Original Bill(s) of Sale
- Certificate of Incorporation (if company)
- Certificate of Good Standing (if the company more than one year old)
- Statutory fee (see list obtainable from Registry)