Gov’t to reintroduce law for charter vessels

Premier Dr. Natalio Wheatley has signalled that his government will soon reintroduce the updated Commercial Recreational Vessel Licensing Act, 1992 (CRVL) now that successful negotiations with the United States Virgin Islands (USVI) have been completed.

The bill—first introduced in January—seeks to revise the fees charged by the BVI to USVI-based charter vessels. However, following pushback and threats of reciprocal tariffs from the USVI, the bill was paused in the House of Assembly while both territories worked toward a mutually beneficial agreement for their interdependent charter industries.

On Tuesday, the BVI and USVI concluded those negotiations, settling on fee structures and operational measures that support both economies. In a statement, Premier Wheatley confirmed that the government is now prepared to finalize the amended legislation.

“The Government of the Virgin Islands will formally present the revised legislation—the Commercial Recreational Vessel Licensing Act, 1992 (CRVL)—the Amendment Bill received its first reading on Tuesday, 7th January. The bill’s second reading is on the order paper of the current active sitting in the House of Assembly,” the statement said.

During the March negotiations, the BVI had proposed new fees for foreign-based term charters, including an annual fee of $7,500 for up to seven entries, and $24,000 annually for unlimited entries. Day charter licenses were initially set at $12,500 per year, while water taxi licenses were proposed at $2,500 annually.

The revised CRVL Bill reflects the final agreement: $7,500 per year for up to seven entries; $2,100 per additional entry or $24,000 annually for unlimited entries. Fees for day charters have been reduced to $8,500 per year, while the rate for water taxis remains at $2,500.

Premier Wheatley described the updated bill as a significant move toward modernising the territory’s maritime industry and aligning operations across borders.