Gov’t grants White Bay developer hotel aid for the next 10 years
A local company will not be required to pay import duties on select construction items and other equipment for the next decade.
Cabinet granted the import waiver to White Bay Development Project Ltd.
The company was granted the waiver after applying for what is known as a Hotel Aid Licence.
Hotel Aid refers to the benefits derived from a piece of incentive legislation — the Hotel Aid Ordinance (Cap 290) — for the hotel accommodations sector.
It 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.
Cabinet endorsed that the portfolio minister grant White Bay Development a Hotel Aid Licence for 10 years, with effect from January 1, 2021.
The decision was made during its February 3 meeting and published in a post-Cabinet statement this month. Government did not provide any additional information on the developer and what exactly they plan to construct.
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This is ridiculous…. grant it for two years when they’re ready. But 10 years? At the same time you’re putting the fees up for everyone else….
Great news. We need to see some proper real estate development in the BVI to replace the income that is being lost from the financial services sector.
There has been fantastic development in the North Sound, and it has revitalised the economy there. Once Covid passes, VG will see huge employment opportunities for those that are prepared to train and work hard.
However, we need to see proper development (like that which has happened in VG) in the rest of the Territory, and not half done poor projects that nobody wants to buy or visit. The residential projects on the North shore of Tortola (towards the eastern end) have been very very disappointing. The new hotel in CGB, the rebuild at the Sugar Mill, and the revevelopment at Long Bay are much better. The eastern north shore developments comprise a few houses (which sell for less than the constructions costs) because the amateur ‘developers’ have not even completed the construction of the access roads never mind done some landscaping. Those developments look cheap and half done – it is perhaps no surprise that the land is not selling very fast.
No doubt there will be lots of naysayers about development in the BVI but they will also complain if there is no development (and even more so if they loose their cushy Government non-jobs).
They don’t need 10 years duty exemption…
The developer wants to build a resort / hotel on white bay like quioto did in cgb. Foeign owned through belonger front.
We continue to sell off our lands…
Who is the Developer of the hotel and how is he related to those in the government. Stop this p**s poor reporting and provide all info in your articles. BVI News is just like the government. Just send out a little info just to stir the pot.
And, exactly, what does White Bay Development propose in terms of construction. A five story monstrosity? Eco cabins on the beach? And, how will the septic be handled, since whatever they build will be close to the beach? Nothing like elevated coliform counts to scare away tourists and day trippers.
This is a total disgrace. The rich pays nothing and get richer. They build their hotel, pay cheap labour and pay nothing into the government coffers, then sell a glass of ice drizzle with coke for $10.00 and a room for $1,000.00 a night.
These companies will never extend the same leniency that government gave to them to anyone else, especially the local people.
Then Andrew want to carry up import tax on us. Hard enough for families trying to bring in little household necessities to get a break from the supermarket high prices. This kind of thing just ain’t right. Let them pay for something.
Gonna do to white bay what was done in cane? Need oversight on these projects.
Red carpet for outsiders and red tape for locals
The Hotel Aid Act only applies to belongers!
Don’t think that is accurate, but not certain – Oil Nut Bay has a very extensive and exclusive Hotel Aid and Development Agreement for starters!
No doubt Oil Nut Bay and this White Bay development all have their token “belongers” on board taking a nice fee to smooth things through with their governmental buddies and cousins…
The law is there for this to happen and the applicant did the right and legal thing to apply for it but the Government have 2 more years in power, they should have give it to the time they have in office, which is 2 yrs, if they get back in, they can look at it and renew it if they wish,, However, if a new government gets in, and have a different view on it they wont have to go through that steess of trying repeal or redo that agreement,.
Perhaps they can reduce the PPE duty for everyone. Currently its 15%, Hand sanitizer as alcohol based if 15%. Im sure the government are pleased that this high tax is propping up the coffers.
Its not a luxury item it should be Free of Duty.
I would like to see real figures of the true benefit that hotel aid brings to the BVI.
Job creation, employee tax contributions, nhi contributions, Social security contributions, taxis, boating, head tax, super markets, the whole benefit.
PEOPLE…. WHO IS THE LOCAL COMPANY? NO NAME MENTIONED! THE GOVERNMENT SELLING WE OUT AGAIN!! NEXT THING WE CANT WALK OR LAY DOWN UNDER THE COCONUT TREES ON THE BEACH. REMEMBER HOW THEM STOP US FROM FISHING ON A BEACH THEN SAY SHARKS ARE ENDANGERED SPECIES!!
Same owners as Top of The Baths ?
Same owners as Top of The Baths ?
Why fuss about this? This is great news. Every local hotel owner can now plan to develop their property and apply for the same treatment. If it is refused, the courts are there to level the playing field. Precedence has been established. Just force it to be applied
White Bay remains a relatively quiet, simple place. There needs to be a public hearing on any proposal where the investment exceeds $500,000 especially if there are special grants. Many of us wish for the return of the campground which has a lower impact on the ambiance of the Bay.
Has the plan been approved for its environmental impact? Is such a thing required?