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BVI Government Updates Business In Wake Of Irma

by Mike Godfrey, Lowtax.net, Washington
19 September, 2017

The British Virgin Islands Premier, Orlando Smith, has provided an update to territory businesses on the service issues facing the territory in the wake of Hurricane Irma.

He said restoring electricity to areas cut-off by Irma is ongoing, while security and policing in the territory has been bolstered by 500 military personnel on the ground.

Port Purcell is now open to receive regular business, and bank managers and insurance companies have all reopened their doors and are actively servicing private and business clients.

Normal immigration and labor clearing processes are in place, though with some adjustments, and the responsible departments of government are functioning again. Smith said businesses who need essential and highly skilled individuals to get them up and running will benefit from a relaxed clearance process.

To coordinate the rebuilding process, he has appointed Keria Christopher, Director of the Department of Trade, Investment, and Promotions, to liase between business and government.

The British Virgin Islands Financial Services Commission, which regulates the territory's financial services industry, has also provided an operational update in the wake of Hurricane Irma.

The Commission said transaction processing for regulatory matters has resumed, as have meetings of the licensing and supervisory committee, but all scheduled compliance inspections are suspended until December 31, 2017. The Commission said its temporary operating hours until further notice are 9:30am to 2:00pm daily.

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