The Ministry is led by the Minister for Financial Services, Economic Development and Digital Transformation, and he is supported by his abled Permanent Secretary, and his Heads of Departments and Statutory Bodies.
 

Our Vision
The Ministry’s vision is to position the Virgin Islands as a globally recognised financial hub, while driving sustainable economic growth through innovation, regulation and digital transformation.

Our Mission
The Ministry’s mission is to foster a prosperous and resilient economy through a competitive financial services sector, a productive labour market, a thriving business environment, and accelerated digital transformation.
 

Our Commitment To You
The Ministry of Financial Services, Economic Development and Digital Transformation is committed to:

• Assisting you in a prompt, efficient and fair manner
• Providing you with courteous and professional service
• Preserving your privacy and confidentiality
• Responding to your enquiries on the status of applications in a timely manner
• Providing explanations for application denials
• Improving service delivery by monitoring and measuring our service standards
• Improving the public’s perception of the Ministry and its departments
• Administering our programmes fairly
   

Our Core Values

• Developing and implementing legislation and policies related to commerce, labour and immigration that support a thriving economy
• Supporting the implementation of legislation and policies related to financial services
• Promoting occupational health and safety
• Providing excellent, professional, courteous and fair customer service to our clients
• Being responsive and proactive to our clients’ needs
• Processing applications in an efficient manner
• Providing timely responses to enquiries

DEPARTMENTS

• Department of Trade, Investment Promotion & Consumer Affairs
• Department of Immigration
• Department of Labour and Workforce Development

STATUTORY BODIES

• Financial Services Commission
• Scientific Committee
• BVI Finance
• National Bank of the Virgin Islands
• Labour Arbitration Tribunal

SUBJECTS

• Banking (includes National Bank of the Virgin Islands)
• Companies
• Consumer Affairs
• Economic Planning
• E-Government
• Financial Services
• Human Resource
• Planning
• Insurance
• Investment Promotion
• Labour & Workforce
• Development
• Liquor License
• Science and Technology (including digital transformation)
• Trade and Business (including licenses)
• Trust
• Weights and Measures
• Industrial Development (including Incentives)
• Registration Apprenticeship Training Employment Development (RATED)
• Programme
• Cooperatives

As a public sector organisation, we will work to ensure the services we offer to our clients are indicative of a respected, trusted and efficient Public Service with people at the centre of all we do. The Public Service organisational customer service standards and behaviours guide our interactions and delivery.
 

The customer service behaviours are the activities that directly affect the service quality and guide the daily interactions of public officers. Our customer service standards outline what our customers should expect during an interaction including, but not limited to, timeliness, accuracy, effectiveness and safety. Our clients can hold us accountable to these standards when conducting business with any government department.

OUR COMMITMENT TO SERVING YOU

1. If you telephone us, we will:

• answer your call within three (3) rings;
• identify the Ministry and provide our name;
• greet you pleasantly;
• make every effort to address your enquiry or transfer you to the appropriate person who will do so.

2. If you visit us, we will:

• greet you promptly upon entering our office;
• advise you as to when you can expect to receive assistance in the event our officers are busy assisting other customers;
• serve you within five (5) minutes of arrival if you have an appointment.

3. If you write or email us, we will:

• respond within ten (10) business days of receipt, and respond to all oral requests within three (3) business days of contact;
• endeavour to respond within the timeframe but, in the event we are unable to
  you can expect us to:
  
  a. contact you by phone;
  b. acknowledge receipt of your communication in writing, at which time we will advise you as to when you can expect a reply; 
   
• endeavour to respond to all your requests for information but, in the event we are unable to respond, we will refer you to the appropriate individual, department or agency.

OUR SERVICES

Work Permit Exemption: This service allows persons to apply for approval to be exempted from the work permit process, for a period of time, based on three exemption categories.

Work Permit Waiver: This service allows persons to apply for approval to waive the work permit process for an individual who is visiting the territory to work for a short period of time

Importation of Trailers, Trucks, and Heavy Equipment (including mobile vans): This service allows persons to apply for permission to import heavy equipment, including mobile
vans, into the territory.

Grant of Hotel Aid: This service allows properties to become eligible for hotel aid. Hotel Aid is governed by the Hotel Aid Ordinance (Cap 290) and the Hotel Aid (Amendment) Act, 2005.

Grant of Pioneer Status: This service allows businesses to apply for pioneer status, which is an incentive programme designed to reduce certain development costs for legitimate entrepreneurs who are leading innovative ventures. Pioneer Status is governed by the Pioneer Services and Enterprises Act (CAP 297).

Labour Disputes: This service aims to bring resolution to labour disputes, upon failure of resolution by the Department of Labour and Workforce Development, and prior to the matter being transmitted to the Labour Arbitration Tribunal.

Micro Small Medium Enterprises (MSME) Grant Programme: This service aims to empower local businesses to overcome financial barriers and support growth initiatives by providing financial assistance to business owners. This programme seeks to stimulate economic development and strengthen the Virgin Islands’ business landscape.

RATED Programme: This service allows for temporary, short-term employment to unemployed Virgin Islanders and Belongers.

YOUR RIGHTS

As a customer, you have a right to:

• be dealt with promptly, professionally, fairly, and truthfully, in accordance with generally accepted service standards Public Service Management Code
• appeal a decision made with respect to any application to the Ministry responsible for Trade
• be given a reason for a denial with respect to any application from the Ministry responsible for Immigration, Labour or Trade.
   

YOU CAN HELP US SERVE YOU BETTER

As a customer, you can help us serve you better by:

• Completing applications fully
• Respecting and following our policies and established procedures;
• Addressing staff with courtesy
• Providing additional information when requested, accurately, thoroughly and in a timely manner
• Submitting queries and payment in a timely manner
• Abiding by any and all legal requirements and other obligations that customers are to meet in order to be eligible for services sought.
   

Tell us how we are doing
We value your feedback. It provides us with information that helps us to refine and improve our services. It is important to know what works well. By telling us when you have received excellent customer service and what we got right, it helps us to recognise the efforts of our people and to ensure we replicate best practice across the Ministry and its departments. We are committed to ensuring all complaints received are taken seriously and handled efficiently, fairly and confidentially. We will aim to resolve all complaints as soon as possible, however, depending upon the nature of the complaint, response times may vary. You will be provided with updates during the investigation of your complaint.
 

Submit your commendations and complaints through the Government’s centralised platform, Rate Us.

RESPONSIBILITIES OF OUR PROGRAMME UNITS

Scope of Programme Units within the Ministry of Financial Services, Economic Development and Digital Transformation
 

The scope of Financial Services includes:

• Regulating financial institutions
• Developing and implementing a financial services strategy
• Supporting the implementation of policies and legislation that govern the financial services industry
   

The scope of Immigration includes:

• Facilitating immigration relations between the visitors to our shores and residents
• Formulating Immigration policies and enforcing immigration laws
• Addressing immigration disputes
• Setting immigration quotas

The scope of Trade, Investment Promotion and Consumer Affairs includes:

• Ensuring compliance with trade regulations
• Addressing trade disputes
• Negotiating trade agreements and removing trade barriers
• Promoting exports and attracting foreign direct investments
• Administering the MSME grant programme
• Supporting domestic industries
   

The scope of Labour and Workforce Development includes:

• Enforcing labour laws
• Mediating labour disputes
• Overseeing labour market trends
• Developing the workforce through training opportunities and identification and remediation of skills gaps
• Processing work permits in compliance with the labour laws
• Implementing standards to protect workers' rights and ensure fair employment practices
• Promoting occupational health and safety
   

The scope of the Labour Arbitration Tribunal includes:

• Regulating its own procedures
• Hearing employment disputes and complaints and making orders or awards as it considers fair and just
• Acting in accordance with equity, good conscience and the substantial merits of each case
• Having regard to the principles and practices of good industrial relations
   

The scope of Digital Transformation includes:

• Developing and implementing a digital transformation strategy
• Digitally transforming public sector services
   

The scope of RATED includes:

• Providing temporary, short-term employment opportunities

We will regularly publish legislation relevant to our duties, or links to such legislation on the Government’s website and all social media accounts. This list of enacted legislation falls within the Ministry of Financial Services, Economic Development and Digital Transformation Portfolio. Please note, this is not an exhaustive list.
 

1. Arbitration Act
2. Bank and Trust Companies Act
3. British Virgin Islands Business Companies Act
4. Beneficial Ownership Secure Search Systems Act
5. Business Licensing Act
6. Caribbean Development Bank Ordinance
7. Company Management Act
8. Consumer Protection Act
9. Copyright Act
10. Dormant Accounts Act
11. Economic Substance (Companies and Limited Partnership) Act
12. Electronic Transactions Act
13. Electronic Transfer of Funds Act
14. Electronic Filing Act
15. Financial Services Commission Act
16. Financial Services Appeal Board Act
17. Financial Investigation Agency Act
18. Financing and Money Services Act
19. Immigration and Passport Act
20. Immigration and Passport Regulations
21. Insurance Act
22. International Business Companies Act
23. Insolvency Act
24. Limited Partnership Act
25. Liquor Licensing Act
26. Micro Business Companies Act
27. Miscellaneous Amendments (SIGTAS) Act
28. Mutual Funds Act
29. Mutual Legal Assistance (U.S.A.) Act
30. Mutual legal Assistance (Tax Matters) Act
31. Patents Act
32. Partnership Act
33. Private Security Industry Act
34. Proliferation Financing (Prohibition) Act
35. Securities and Investment Business Act
36. Third Parties (Rights Against Insurers) Act
37. Trade Marks Act
38. Trustee Ordinance
39. Trust Corporation (Probate and Administration Act)
40. Trustees Relief Act
41. Virgin Islands Deposit Insurance Act
42. Virgin Islands Investment Act
43. Virgin Islands Labour Code
44. Virgin Islands Special Trust Act
45. Virgin Islands Trade Commission Act
46. Virtual Assets Service Provides Act
47. Workmen’s Compensation Ordinance