Shipping registry to become statutory body, economic pillar
With hopes of turning the Virgin Islands Shipping Registry (VISR) into an economic pillar for the territory, Premier Andrew Fahie has announced plans to make VISR a government statutory body.
Fahie made the announcement at a press conference on Monday, March 8, stating that the Registry is modernising its service offerings.
One of the things VISR has planned is to start registering different classes of vessels; particularly the heavy-duty kind. The majority of VISR’s clientele are currently recreational vessels.
“There is economic diversity where vessels can register in the BVI through company registers … It is important that we continue to improve our product offerings/deliveries and expand the services we provide to our clients and to attract other categories of vessels such as larger vessels — tankers, bulk carriers, container ships, and one day perhaps even cruise ships,” said Fahie, who has portfolio responsibility for shipping.
“Vessels that have never come to the BVI can register here and perhaps we can structure our substance requirements to make it beneficial for shipping companies to have operational and management functions and offices in the BVI,” the Premier added.
He said this is one of the avenues government will continue to promote as a revenue stream.
Copyright 2023 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.
Stick to yachts VISR. Leave the large commercial ships to Singapore, Panama, Bahamas, Monrovia, etc.
They’re not particularly good at that either. It’s easier to flag a yacht Cayman to operate in the BVI than it is to flag it BVI.
Or the UK. Really easy to register on the small ships registry for $50 or close.
They have been trying this for years. They even went to the Monaco boat show. Zero results.
When will they understand,?: there is too much bureaucracy, too much attitude, too much paper shuffling and too much delay in BVI no matter what you try to do.
What do we have that better organized , well established operations don’t have?
Nothing is the answer .
So it’s really just another waste of taxpayers money.
Andrew living in dream land
He destroyed tourism industry
Another statutory body to con for skate money fron without a trace!
BVI has been trying to attract more ship registration for years and years now.
This is nothing new !
Looks like VIP are scraping the bottom of barrel now for ideas to look productive.
Same story came out what – 8 years ago?