Gov’t attracting investors by offering residency
As the government continues to find innovative ways to keep economic activity flowing in the British Virgin Islands, Premier Andrew Fahie has announced plans to develop an Invest-and-Stay programme.
The Premier said the programme will attract potential investors from all over the globe.
He said the initiative is one that will positively impact the territory through a number of policies which will be designed to ensure that locals directly benefit from the opportunities provided.
“Your government is well aware that COVID-19 has created a lot of uncertainty about how global tourism will perform in the upcoming year. We know that many of our local tourism stakeholders are also trying to imagine how tourism will work under the New Regular in 2021. Your government has ensured that adequate measures will be implemented to address this concern,” Fahie stated.
“We are also working out the details for an Invest-and-Stay programme to attract persons who would like to invest in specific areas of our economy. They would be allowed to live in the BVI but they will not be afforded the benefits that go with Belongership. However, they will be mandated to employ an agreed number of persons in the BVI based on the size of their investment,” he explained.
BVI In-Stay Programme
Premier Fahie also spoke on the BVI In-Stay programme, which was previously announced by the Immigration & Labour Minister Vincent Wheatley during a recent radio broadcast.
Wheatley at the time of the announcement had only stated that the government was assessing other countries who had implemented similar programme to find the best suitable model for the territory.
However, Premier Fahie gave some more insight into the initiative, explaining how it will benefit the BVI’s economy once implemented.
He said: “Your government is developing the terms and conditions for a BVI In-Stay programme, which will allow persons to come to the BVI and stay for an extended period. The main target group are persons who are able to do remote working for jobs in their home countries.”
“So, these individuals will not be competing in the local job market, but at the same time they would be renting accommodations, patronising our businesses, enjoying what the BVI tourist experience has to offer and contributing to economic activity,” he added.
Premier Fahie also said he is confident the local business community will recognise how they must adapt their marketing strategies during this COVID-19 era to ensure they benefit from such initiatives once they have been implemented.
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This man needs to stop adopting everything SK does and start thinking.
This is not an adoption from Sk. Please look up sustainable development, it’s happening allover over. Mandated by the United nations in this so called New Normal, Global citizen programs, looked that also. Every country has to adopt or left behind……
So tell me Foy what is the benefit for the investor or person working abroad. You want them to bring their money, spend it here, eat here, rent here, pay pay pay. What is the benefit to the investor. Oh he can stay till you decide to throw him out? Your schemes are never well thought out and never work. You want to attract people to live and work abroad there needs to be a benefit. Last, how are people going to work remotely with the worst internet service in the Caribbean. Foy get the internet fixed instead of sitting on the toilet after your big lunch thinking of ways to take peoples money.
THIS MAN IS FALLING OFF THE CLIFF . THE UK HAVE TO STOP HIM BEFORE HE CARRY ALL OF US WITH HIM WHEN WE ARE FAST ASLEEP. HE REFUSE HELP THE PLACE IS OUT OF CONTROL. THEY WERE TALKING ABOUT THE NDP HE IS WORST HE IS LIKE YOU PUT THE RAT TO GUARD CORN.
Nobody right in them mind want residency here after how other nationals being treated. I decline.
@ Ronal et al….So why are u in the Virgin Islands again?
Guys you see,he is trying to follow the same thing like the other islands.citizen by investment program.selling our passports to foreign investors.guys these are the things that I am talking about.he is following every foot step of the other caribbean islands.that’s is one of the reasons they are tryiny to push for independence.we need to get serious about this government.their main goal is independence.next step,we will have to open up our borders to caricom nationals call free travel movement.we need to watch this government at every glance it make.
This government is the most corrupted government of all.
Ppl use y’all sense the bvi is not the place to invest
These ppl chase away a lot of investors because of there selfishness
A lot of investors gone to St Thomas, St Maarten, St Kitts, Antigua, Barbados etc
The bvi government only want investors here for there money and the treat you like you are nobody
And if an investor doing better business than them the kill you it happen in the past and it is still happening
After hurricane Irma ppl starting to see how wicked these ppl are
Remember Allen Stanford in Antigua? It didn’t end very well for him nor the image of Antigua. Investors for Residency schemes usually attract many who are dubious. Not saying all of them are but there are many crooks out there waiting to prey on our naive and money hungry Caribbean governments. Most times we don’t do enough digging into the background of these people all we see is the money they offering. By the time government realise what’s going on they already skip town and we are left holding the bag.
We can come up with other ways to attract investment. Let’s put our educated elite to work…let them help you Fahie to come up with ideas if you have none
Stanford did nothing different to what regular banks are doing, that was a pure witch hunt! The man had way more than enough assets to settle what was been called up.
So why did he end up in jail then? Do your research and come again.
What are you talking about and others agree with you ? Stanford one of the most corrupt individuals . Go research and come back . Yes banks do some unscrupulous things but at least there is some regulation.
Remember Allen Stanford in Antigua? It didn’t end very well for him nor the image of Antigua. Investors for Residency schemes usually attract many who are dubious. Not saying all of them are but there are many crooks out there waiting to prey on our naive and money hungry Caribbean governments. Most times we don’t do enough digging into the background of these people all we see is the money they offering. By the time government realise what’s going on they already skip town and we are left holding the bag.
We can come up with other ways to attract investment. Let’s put our educated elite to work…let them help you Fahie to come up with ideas if you have none
So let me get this straight. The BVI that makes it so difficult for people who have lived here for ever to become belongers is now the same BVI that has residency up for sale? Well sah. I think I have heard it all. The Premier has gone off the deep end.
When people say diversify the economy, it is not meant to sell out the country to the highest bidder.
All must not be well in natures little secret.
I gather someone heard St.Kitts was handing out citizenship like hot cakes if applicants can cough up some good cash in the name of investing and they decided to be copycats.
I wonder how my fellow BVIslanders feel about this? This cannot go down well with the populace who is generally against selling out the country.
The Premier frequently in the past railed against selling out the country, and now he is proposing doing the exact same thing. My goodness.
Hypocrites and parasites.
My sentiments exactly!!!
who is going to buy residence here, caucasian only. that’s what he is looking for.
Chinese.
Wouldn’t I need: 24/7 electricity, reliable high speed internet?
A bit late no? This coming from the man/party that labelled investors as INVADERS not so long ago on the campaign trail? If you think real solid investors have time with these rookies think again. When was the last time any solid reputable entity approached BVI to invest in anything?
The main advisor is from St Kitts so we will follow fashion for now
One minute the BVI is making life impossible for residents of 15 years plus.. the next minute once we have all left you are asking for investors to come to your Islands ?
To invest in what exactly? What advantages does BVI have for any business? We have finance but the rest of the world is killing that off, tourism but the BVI government is killing that off. We have lousy 3rd world internet, electricity , government services ( remember to carry your tax payments to RT and stand in line to be abused every month – on line payment ? – Er no ) . We have ridiculous home ownership rules for non belongers , you need cabinet approval to change a window or to sell your house after having paid massive and discriminatory stamp duty. And you can only live here for 6 months a year. Unreal.
There is a business in attracting retirees here to enjoy our sunshine and low personal taxation but fear and racism mean that is not going to be encouraged any time soon.
IM FROM TORTOLA. I DONT SEE WHAT THE BIG DEAL IS. I HAVE RESIDENCY IN TWO OTHER COUNTRIES. THE PEOPLE WELCOMED ME AS ONE OF THEIR OWN. WHY CANT YOU DO THAT?
ITS GONNA CREATE JOBS AND BETTER THE COUNTRY. PEOPLE TRAVEL ALL OVER THE WORLD AND GET RESIDENCY FOR DOING NOTHING. YOU TORTOLA PEOPLE ARE SICKENING.
YOU GUYS LIVE FOR TODAY AND DONT LIKE TO SEE CHANGE. SOME OF YOU WHO ARE BLOGGING NEVER EVEN LEFT THE COUNTRY. YET YOU ALWAYS HAVE THE MOST TO SAY.
WHICHEVER GOVERNMENT IS IN POWER, YOU GUYS WILL ALWAYS COMPLAIN.
THIS WILL HELP PROFIT THE COUNTRY. COUNTRIES HELP OTHER COUNTRIES ALL THE TIME. PEOPLE HELP PEOPLE. WHATS WRONG WITH SOMEONE GETTING RESIDENCY. YOU ALL REALLY THINK THE ISLAND BELONGS TO YOU.
ANDREW YOU DO WHAT YOU HAVE TO DO. YOU’RE DOING A GREAT JOB.
I DONT CARE WHAT NEGATIVE FEED BACK COMES AFTER THIS.
IGNORANT SET OF PEOPLE!!!
@view. U R NOT From the BVI. U WERE NOT EVEN BORN HERE.Your voice is vo iij celess and you are ignorant like tu ou accuse the people of the BVI. INGRATE U R.
Didnt Vincent expat h***r appear on Claude show to say he told his people to rethink this. he said he cant see how the BVi will benefit. Did the Premier not consult the Minister for the subject on this matter. If not then we can all expect to hear from the Minister of h**e soon on why those remote working expat people will need to pay through their nose to breathe BVI air.
The problem with this is the wrong people (those who put a little in and want to get a lot out are the ones who benefit from it) making under the table deals with Gov. members. don’t get me wrong; I think it’s a good thing but when used rite.
Be careful what you ask for. Yes, you would like some investment but at the end of the day you will be overrun by foreigners if not limited . Check Toronto, Canada .
I am not here any longer Norris and more leaving. The government want the tourist money but if the tourists want residency them will take their money. The people treat the non-nationals that live there like garbage. BVI is not any place to invest money. The people are not nice.. Many them oppressing nonnationals. Do not work for a local employer if anyone go there.
Maybe market this towards Epstein’s long list of friends? They loved the island living, just need to make sure there is plenty of fresh snapper available.
BVI love is a lie mate. Residency is not possible. The tourist agency must know it. I can’t say my Bvi experience was great. I’d rather they go back to the old brand. The bath over Virgin gorda is good but overrated. It won’t be a repeat trip for my crew. My best experience was leaving to Puerto Rico.
So you begging expats who won’t pay taxes, NHI or SS to come here…but you sending away the expats that are here and willing to find another job to pay tax, SS, NHI and your high house rent?? Really? You just bringing them to rent houses so your people could pay back the bank…that does not make any sense…why you don’t stop sending people home after they done pack up their lives to come and work here…why you don’t just let them get time to find another job and after 6 months if they don’t find a job let them go home. come on BVI
You Alturo Fahie, you’re big friend with that man from SKB. Well ,listen up here, if them doing it there, we sure as h**l don’t want it here. As for them Chinese, h**l to the 2nd degree NO!! Them ruling Jamaica, Trinidad, Dominica and where ever else. So, you don’t know that we in the BVI buying our own fish imported, frozen or canned from then. Them take up residency, manufacturing and production right on our North Drop outside Jost Van Dyke. Just because we cant patrol and control our boarders properly and efficiently. You already sold out our birth rights in that mass residency/ belongers massacre. When are you going to stop all this shiz. Do you ever consider the lively hood of YOUR GRAND CHILDREN??
To any potential investor being beguiled by the smoke and mirrors of the BVI… RUN AWAY!!!
As fast as you can.
It’s a mire of bureaucracy and delay. We even have a minister whose job is to increase red tape and paperwork.
FLEE!