Since 2023, the Office of the Deputy Governor, working with the Governor’s Group and Constitutionally Established Departments, has advanced a series of governance reform initiatives aimed at increasing transparency and accountability throughout the Public Service.
These initiatives include the Public Service Management Act, 2024; the Service Commissions (Amendment) Act, 2024; the Register of Interests (Amendment) Act, 2024; the Audit (Amendment) Act, 2022; the Police (Amendment) Regulations, 2024; the updated Criminal Procedure Rules; and the Emergency Disaster Management Fund Policy.
At the centre of this work is the Public Service Management Act, 2024, which came into force on 1 January 2025. The Act modernises the way the Public Service is managed, bringing together long-standing rules on discipline and performance management into a single legal framework. It also formally establishes systems of accountability by requiring senior public officers, including heads of department and deputy secretaries, to declare their interests with the Registrar of Interests. In addition, the Act provides for the establishment of the Virgin Islands Public Service Learning Institute, which now supports the continued professional development of public officers.
Permanent Secretary in the Office of the Deputy Governor, Mrs. Sharleen DaBreo-Lettsome, MBE, said the work forms part of a coordinated approach to strengthening the systems of governance in the Public Service, with a particular focus on expanding the avenues for transparency and accountability.
Mrs. DaBreo-Lettsome said, “Our legislative and policy work over the last few years has been deliberately focused on building systems that can sustain the ongoing growth of the Public Service. In particular, we have sought to put in place frameworks that give the public greater confidence in how decisions are made and how public resources are managed, while streamlining the operations of the wider Public Service. We are grateful to all of the officers and partners who have contributed to this work, and we remain committed to building on it.”
Ahead of the Public Service Management Act coming into force, more than 400 public officers attended a detailed presentation on its provisions and on their role in ensuring a smooth transition. The Office of the Deputy Governor has continued to engage officers across the Public Service, ensuring that every level of the Public Service understands and meets the standards set out within the Act.
The Office of the Deputy Governor also recognised the contributions of more than 2,600 public officers who have supported the wider governance reform effort. Since the process began, officers have helped to introduce new legislation and policies and to raise the standard of operations, in keeping with the need for greater transparency, accountability and efficiency.
For members of the public, these reforms mean clearer rules on how public officers conduct themselves, stronger safeguards around conflicts of interest, and greater confidence that public resources are being managed responsibly.
The Ministry of Financial Services, Economic Development and Digital Transformation has made progress on several governance reforms aimed at improving accountability and supporting the responsible management of public institutions in The Virgin Islands.
The reforms follow recommendations from the Commission of Inquiry (COI) and form part of the Government’s wider Governance Reform Transition Plan. The plan aims to improve the policies and systems that guide how government institutions operate and ensure that they serve the best interests of the Territory. During 2026, the Ministry advanced several initiatives focused on improving the management and oversight of organisations under its responsibility.
In April, BVI Finance completed updates to its governing documents following a review of its management arrangements. Similarly, the National Bank of the Virgin Islands amended its governing documents in August. These updates reflect an ongoing commitment to sound governance, accountability and responsible management across both organisations.
Governance reform also extends to the delivery of services and the rights of persons accessing them. The Immigration and Passport (Amendment) Act, 2024, Immigration and Passport (Amendment) Act, 2025 and Immigration and Passport (Amendment) Regulations, 2025 introduced provisions for clearer assessment criteria for Residence and Belonger Status applications and an independent appeals process for immigration decisions. These changes are intended to support more consistent decision-making, improve transparency and provide persons with a formal means of challenging certain immigration decisions. Between May and June 2026, the Department of Immigration also conducted a public awareness campaign to explain changes to immigration procedures and help residents better understand the updated legislation.
Work continues on other reforms, including the National Employment Policy and proposed amendments to legislation relating to investment and statutory board governance. These initiatives remain at various stages of review and will undergo the necessary consultation and approval processes.
Through these efforts, the Ministry is working towards clearer procedures and greater accountability in the management of public institutions. The reforms are intended to strengthen public confidence and ensure that government decisions are guided by established rules and procedures.
The Ministry of Financial Services, Economic Development and Digital Transformation will continue to work with its departments, statutory bodies and other government agencies to advance governance reforms in the best interests of the people of The Virgin Islands.
Premier Honourable Dr. Natalio D. Wheatley has called for constitutional advancement of The Virgin Islands in his address to the United Nations Special Political and Decolonisation Committee (Fourth Committee) at the 81st Session of the U.N. General Assembly held at U.N. Headquarters in New York.
In his address to the Committee, Premier Wheatley outlined the Government’s core proposals advanced by the Constitution Negotiating Team during constitutional negotiations held with the United Kingdom. Some proposals include the Premier chairing Cabinet and the Public Service being led by the elected Government. The practices happen in Overseas Territories such as Bermuda and Gibraltar.
The Premier also shared on his productive meetings with the new U.K.O.T. Minister Uma Kumaran and thanked the C-24, U.N. Fourth Committee, C.A.R.I.C.O.M., O.E.C.S., A.C.S., and the Caribbean Territories for their steadfast support of The Virgin Islands as the Territorn seeks political advancement under a new constitution.
Premier Wheatley said, “Updating the U.N. Fourth Committee on the progress of decolonisation and constitutional advancement is an important obligation of The Virgin Islands. My government takes this responsibility very seriously. As required, the international community is now aware of The Virgin Islands’ proposals for constitutional negotiations with the U.K. to advance self-government and decolonisation.”
During his visit to the U.N., the Premier also held meetings with Chair of the U.N. Special Committee on Decolonisation Her Excellency Ambassador Menissa Rambally who also serves as Saint Lucia’s Permanent Representative to the U.N.; and Dean of the CARICOM Permanent Representatives to the U.N., His Excellency Ambassador Dr. Walton Webson.
The Committee will adopt the annual U.N. resolution on The Virgin Islands following the deliberations of member states. The U.N. Fourth Committee is currently taking place within the 81st Session of the General Assembly.
Members of the Virgin Islands Constitutional Negotiating Committee outside the Foreign, Commonwealth & Development Office in London on 23 September 2026, during the second round of negotiations with the United Kingdom to modernise the Virgin Islands Constitution Order, 2007.
From left: Deputy Premier Honourable Julian Fraser, RA; Leader of the Opposition Honourable Marlon A. Penn; Mrs. Lisa Penn-Lettsome; Premier Honourable Dr. Natalio D. Wheatley; Minister Honourable Sharie de Castro; Minister Honourable Kye Rymer; Mrs. Maya Barry; Honourable Ronnie W. Skelton; Honourable Mr. Justice Gerard Farara, KC; Attorney General Honourable Dawn Smith; Sir Jeffrey Jowell, KC; and Mr. Benito Wheatley
The Government of The Virgin Islands has strengthened its engagement in Westminster in the United Kingdom with the reconstitution of the All-Party Parliamentary Group on the British Virgin Islands (BVI APPG).
An APPG is an informal group of parliamentarians who share an interest in a particular country, territory or issue. Although APPGs do not make laws or take government decisions, their members can raise awareness, ask questions, convene discussions and help ensure that the Territory’s perspectives are heard across Parliament and Whitehall.
The reconstituted Group brings together members of the House of Commons and the House of Lords from across the political spectrum. The elected officers are:
Chair: Dr Al Pinkerton MP, Liberal Democrat
Vice-Chair: Carolyn Harris MP, Labour
Vice-Chair: Jack Rankin MP, Conservative
Vice-Chair: Lord Brady of Altrincham, Conservative
The attendance of parliamentarians from the Labour, Conservative, Liberal Democrat and Reform UK parties demonstrates the breadth of cross-party interest in The Virgin Islands and provides a strong foundation for the Group’s work.
Premier and Minister of Finance, Honourable Dr. Natalio D. Wheatley, said, “The APPG has been reconstituted to promote and support the interests and aspirations of the people of The Virgin Islands; to provide an informed, cross-party forum for parliamentary engagement; to strengthen relations between both governments; and to advance constructive dialogue on self-determination, constitutional development, good governance, security, financial services, sustainable economic development and climate resilience.”
Premier Wheatley emphasised the importance of the APPG in supporting the Territory’s priorities across Parliament and Whitehall.
He said: “Its reconstitution comes at a significant point in the UK-Virgin Islands relationship, as the Territory advances constitutional reform, strengthens its institutions and continues to advocate for a modern partnership founded on mutual respect and the right of the people of The Virgin Islands to self-determination.”
Representative of The Virgin Islands in the United Kingdom and European Union, Ms Tracy Bradshaw, welcomed the reconstitution of the Group: “Decisions and debates in Westminster can have profound consequences for the people of The Virgin Islands. It is therefore essential that parliamentarians understand our Territory, not only the challenges we face, but also our progress, our contribution to the United Kingdom and the aspirations of our people.”
The previous BVI APPG, chaired by James Sunderland MP, provided an important forum for parliamentary engagement during a particularly consequential period for the Territory following the 2022 Commission of Inquiry. The reconstituted Group will build on that foundation while pursuing a forward-looking programme responsive to the Territory’s present priorities and long-term aspirations.
The BVI London Office will support the Group as its public enquiry point and facilitate engagement with the Government and people of The Virgin Islands. The required registration process is being finalised in accordance with the Rules on All-Party Parliamentary Groups.
The Government of the Virgin Islands is actively engaged in formal constitutional negotiations with the United Kingdom to modernise The Virgin Islands Constitution Order, 2007. Premier and Minister of Finance Honourable Natalio D. Wheatley will be addressing the nation on Tuesday, September 22, on “Negotiating a new Virgin Islands Constitution.”
he Premiers of Anguilla, Bermuda, The Virgin Islands, the Cayman Islands, Montserrat and the Deputy Premier of the Turks and Caicos Islands met in Hamilton, Bermuda, from 8th to 10th of September 2026 as the 2026 Overseas Territories Caribbean Caucus.
The Caucus was hosted by the Government of Bermuda under the chairmanship of the Premier of Bermuda, The Hon. E. David Burt JP MP, and was held in the Bermuda Cabinet Office. The Caucus provides an opportunity to discuss the matters which the Territories hold in common, to exchange experience and to agree positions of relevance to the region. It was reaffirmed that ‘we are the strongest when acting together’.
Leaders reaffirmed the right of self-determination of the peoples of the Territories, and the obligations owed to them under Chapter XI of the Charter of the United Nations, including the obligation to develop self-government and to exchange ideas to uphold this principle. The Leaders took note of the approach taken by the UK Prime Minister towards the rebalancing of power and the shifting of decision-making into more domestic levels.
A RENEWED WHITE PAPER AND COMPACTS
Leaders reaffirmed their long-standing position that a new White Paper is required to replace the existing 2012 White Paper, as affirmed by the House of Lords Constitution Committee. Leaders seek from the United Kingdom a statement of policy towards the Overseas Territories which is transparent, comprehensive and public, including clarity on the nature of the relationship, together with how it is expected to evolve in accordance with the UN Charter.
Leaders recognise that the Territories differ in size, population, economic circumstance and constitutional ambition, and that a White Paper should provide a framework capable of accommodating such differences rather than adopting a single undifferentiated approach. Individual compacts for those territories that choose to adopt them, should flow from such a framework and not stand in place of it. Moreover, both the White Paper and compacts should be developed in full consultation with the Territories, reflecting the consensual nature of the relationship between each individual territory and the United Kingdom that is based on mutual respect.
CONSTITUTIONAL MODERNISATION
Leaders record that the principal obstacle to successful constitutional engagement with the UK is frequently not the substance of what is sought but the absence of any defined process by which to seek it. Territories have spent extended periods negotiating the process itself without addressing matters of substance. Leaders call upon His Majesty’s Government to publish a clear, codified process for constitutional reform, setting out the parties, stages, criteria, policies and principles that pertain to the development and sustainment of this fundamental platform on which the individual relationships between the respective territories and the UK are built.
Leaders agreed the general principle of equilibrium, namely that a constitutional advancement agreed with one Territory should not be denied to another and should be offered to the others rather than withheld pending separate negotiation. Where a provision has been accepted by the United Kingdom in one constitution, no Territory should be required to negotiate it afresh.
PARLIAMENTARY ENGAGEMENT
Leaders acknowledge and thank the Speaker of the House the Rt Hon Sir Lindsay Hoyle MP, for his unwavering support and dedication towards the Overseas Territories and supporting our Parliamentary relationships. Leaders agreed that positions advanced within the JMC require support beyond Government to Government relationships. Leaders agreed the revival of a collective All-Party Parliamentary Group (APPG) for the Overseas Territories, alongside the APPGs maintained by London Offices of Territory Governments.
PARTICIPATION IN INTERNATIONAL AND REGIONAL ORGANISATIONS
Leaders affirmed that participation in regional and international bodies is not a matter of status but of practical necessity, bearing directly upon shipping, trade, disaster resilience, health cooperation and access to climate finance, amongst other issues. The non-sovereign status of the Territories should not be a barrier to regional integration and international level engagements to represent the national identity of any territory, each of which are separate and distinct.
Territories who wish to pursue greater external affairs relationships with regional and international bodies encourage the United Kingdom to acknowledge and respect their distinct identity based on our history, culture, and economic standing.
PENSIONS
Leaders returned to the long-standing question of the annual uprating of the United Kingdom State Pension, which is not extended to residents of most Territories. Leaders record the plain anomaly that pensioners resident in a number of independent countries receive uprating while British Overseas Territories Citizens resident in their own Territories, who have contributed on the same basis, do not. This raises the question of equality and impacts the lives and life chances of countless British Nationals in the Territories.
HEALTH AND SOCIAL CARE
Leaders welcomed the extension of overseas medical arrangements to Territories previously without allocations within the NHS Quota System and confirmed that unused allocations may be shared between Territories where need arises. 3 Leaders record difficulties in accessing the NHS Quota System and seek from His Majesty’s Government support for Chief Medical Officers for the Territories wishing to access such system.
Leaders further committed to supporting one another in the development of their health systems, including through the establishment of regional centres of excellence.
ENVIRONMENT AND CLIMATE CHANGE
Leaders reaffirmed the exposure of the Territories to the effects of climate change and their own commitment to environmental stewardship. Leaders recalled the commitment given at the last JMC concerning a climate finance facility for the Territories and note that it remains outstanding. Leaders noted that a Territory climate change trust fund is now established in a particular Territory that may provide a route through which funding could be received and distributed.
Leaders committed to work across Territories within the region to share frameworks and develop mechanisms to access climate financing to mitigate the threat of climate change with the intention of the Territories remaining the owners and custodians of our environments. As such we seek an approach that supports our pursuit of self-sufficiency in the stewardship of our environments.
FINANCIAL SERVICES
Leaders affirmed the standing of the Territories as well-regulated international financial centres which meet, and in a number of respects exceed, the standards set by the international bodies responsible for them. We are willing partners in the maintenance of international standards and ask that the relationship be conducted accordingly.
The United Kingdom should be ready to affirm the good standing of the Territories publicly and in international fora. Leaders addressed the arrangements for registers of beneficial ownership and for legitimate interest access now in place or in development across the Territories. It is encouraged that the same treatment is applied to the Crown Dependencies. Leaders agreed that the Territories will assist one another in mutual evaluations, including by making technical expertise available between them, and welcomed the offers of assistance exchanged during the Caucus.
TRADE AND ECONOMIC PARTNERSHIPS
Leaders expressed their interest in the territorial extension of United Kingdom free trade agreements and ask His Majesty’s Government to publish a clear and actionable pathway by which a Territory wishing to seek such extension may do so. It was agreed to give practical effect to collective action, including through joint bloc trade missions.
COST OF LIVING
Leaders shared the challenge of the rising cost of living and identified its principal drivers as the cost and reliability of shipping, the structure of freight and insurance arrangements, and the cost of energy. 4 Leaders noted work under way to establish a direct shipping route between the United Kingdom and the Territories and agreed that representatives of the shipping industry should be invited to the JMC so that the proposition may be explored with Leaders directly. Leaders agreed to share strategies and best practice, including measures to improve price transparency and revised arrangements for freight and insurance, and to continue that exchange between meetings.
ARTIFICIAL INTELLIGENCE AND CYBER SECURITY
Leaders agreed that cyber security is properly understood as a matter of national security. Territories have placed the function within their national security frameworks, have issued policy governing the use of artificial intelligence within the public service, and are developing national policy more broadly.
Leaders noted that Territories have already sustained cyber attacks of significance. Leaders agreed that, because cyber security extends to national security and defence, responsibility in this field engages the United Kingdom directly. Leaders therefore urge His Majesty’s Government to extend to the Territories capacity building, preparedness support and access to defensive tools commensurate with the threat, and to do so in a manner which recognises that the size of the Territories is a source of vulnerability rather than a reason for lower priority.
CONCLUSION
Leaders agreed that the positions recorded in this Statement will be advanced collectively and are committed to continue cross-regional collaboration in the areas relevant to their Territories. Leaders agreed to convene the next Caribbean Caucus in the Cayman Islands.
Premier Honourable Dr. Natalio D. Wheatley will lead a delegation to London, England from September 21 to 26 for constitutional negotiations. Formal negotiations will happen from September 23 to 25.
The Premier is accompanied by Deputy Premier, Honorable Julian Fraser; Minister for Communication and Works, Honourable Kye Rymer; and Minister for Education, Youth, Affairs and Sports, Honourable Sharie deCastro.
With the Premier absent from the territory for duty travel, the government has announced a number of acting appointments.
Honourable Vincent Wheatley will serve as Premier, Minister of Finance, Minister of Tourism, Culture, and Sustainable Development, and Minister for Financial Services, Economic Development, and Digital Transformation, from September 21 to 24. Honourable Sharie deCastro will carry out those same duties from September 25 to 26.
Premier Wheatley is expected to return to the Territory on September 26 .
Additionally, during the week commencing September 24 the following Junior Ministers have been appointed to act:
· Honourable Stacy Mather, MBE will serve as Minister responsible for Environment, Natural Resources and Climate Change from September 21 to 26 ;
· Honourable Luce Hodge-Smith will serve as Minister responsible for Education, Youth Affairs and Sports from September 21 to 24.
About:
The Government of The Virgin Islands is committed to promoting good governance and the sustainable development of the Territory with a view to ensuring a well-informed, prosperous, cohesive and stable society. The Premier’s Office serves as the focal point for coordinating cross-sectoral policies and programmes and promoting the sustainable development of The Virgin Islands.
A Virgin Islands government delegation led by Premier and Minister of Finance, Honourable Dr. Natalio D. Wheatley has concluded a landmark four-city programme to India encompassing New Delhi, GIFT City, Mumbai and Bengaluru.
Amid a rapidly evolving global environment, the Mission formed part of a wider economic strategy focused on diversifying and developing new partnerships, while positioning the BVI to support India’s continued growth by helping facilitate international investment into its economy.
Supported by Junior Minister for Financial Services and Economic Development Lorna G. Smith, OBE, the delegation of 12 included officials from BVI Finance, the Financial Services Commission and the Government’s Hong Kong Office. In addition, 18 private sector individuals joined the group, travelling to India at their own expense.
During the visit, the delegation undertook a series of high-level engagements aimed at strengthening ties with the Indian Government, including meetings with India’s Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, the Central Board of Direct Taxes and the International Financial Services Centres Authority (IFSCA), including its Executive Director for Capital Markets, Pradeep Ramakrishnan. The focus for all the meetings was to explore how the Virgin Islands’ experience in cross-border finance can support India’s continued economic growth and financial modernisation, including through BVI fund and corporate structures that can help facilitate international investment into their economy.
These objectives were reinforced at a BVI-GIFT City financial services roundtable and forum, where discussions with the Department for Promotion of Industry and Internal Trade and GIFT City leadership highlighted the potential role of BVI fund structures in facilitating foreign direct investment. The International Financial Services Centres Authority was also receptive to exploring a Memorandum of Understanding with the BVI Financial Services Commission, subject to the relevant approvals.
This is an important outcome which could provide a stronger foundation for regulatory cooperation and, in turn, enable closer commercial ties between the BVI and Indian financial-services communities. These discussions have already resulted in several members of the delegation being invited to participate in the highly prestigious Global Securities Markets Conference in 2027
Alongside these institutional engagements, the delegation held dedicated BVI Financial Services Roadshows in New Delhi, Mumbai and Bengaluru, bringing BVI firms directly together with Indian investors, fund managers, advisers and financial institutions. A particular focus was the BVI’s funds offering and the role BVI structures can play in facilitating investment into India, while creating new commercial opportunities for the Territory’s financial-services industry.
The engagements enabled participating firms to build relationships with prospective clients and referral partners, while gaining first-hand insight into the needs of the Indian market and where BVI products and expertise can add value.
In the months ahead, members of the delegation will look to build on these achievements and progress several specific opportunities secured during the trip, including an invitation for Indian counterparts to participate in FinTech on the Seas in 2027.
Reflecting on the visit, Honourable Dr. Natalio D. Wheatley said: “The mission to India showed the strength of the bond which exists between India and the Virgin Islands. We were honoured by the welcome we received and the senior level of engagement and interest in the Virgin Islands. I believe we have strengthened the partnership between India and the Virgin Islands and established a powerful platform from which the BVI can support India’s continued growth, including by helping facilitate international investment into its economy, while creating new opportunities for our own financial-services industry.”
Honourable Lorna Smith, OBE, said: “This mission gave our financial-services industry direct access to Indian investors, fund managers, advisers and financial institutions, while demonstrating the strength of the BVI’s funds offering. We see a clear opportunity for BVI structures to help facilitate international investment into India, while generating legitimate new business for our own industry. That is how this relationship can deliver growth for both economies.”
Notes for Editors
Industry Testimonial
One testimonial from a company who participated in the delegation was as follows:
Ms. Sabinah Clement, Interim Head of Global Incorporations, Vistra said: “The mission was exceptionally well organised and created valuable opportunities to engage directly with prospective clients, intermediaries and other key stakeholders in the Indian market. Importantly, a number of those conversations have already developed into enquiries and prospective instructions, demonstrating the tangible commercial value of face-to-face engagement in strategic growth markets. It was also a strong example of what can be achieved when Government and industry work together to promote the BVI internationally.”
Good morning to members of the media, representatives of our financial services industry, and to the people of the Virgin Islands who are watching and listening on social media and other platforms.
I am pleased to share with you some updates on the work that my Government has been doing to advance the interests of the Virgin Islands and our people. Today, we will be addressing two topics – the BVI-India Financial Service Trade Mission and an update on our negotiations with the United Kingdom (UK) Government towards a new and more modern Constitution for the Virgin Islands.
Before we begin, I want to take a moment to extend condolences to the family of Mrs. Esmie Estene Turnbull-Stoutt who passed away on Tuesday, 15 September 2026 at the age of 101 years. Mrs. Turnbull-Stoutt was the mother of Permanent Secretary in the Premier’s Office Mrs. Carolyn Stoutt-Igwe and grandmother of our Deputy Governor Mr. David Archer. Last year, I had the pleasure and privilege to join with family and well-wishers to celebrate Mrs. Turnbull-Stoutt’s 100th birthday, and to reflect on her life and legacy at the time. She was a devoted home-maker with 12 children, 28 grandchildren, 44 great-grandchildren, 5 great great-grandchildren and a matriarch of the wider Turnbull, Rymer and Hodge families. She was a lifelong dedicated farmer, stalwart of the community and deeply devoted to her God. We pray that she enjoys eternal rest at the side of her Lord and Saviour.
We also take a moment to remember all others whom we have lost over the past recent weeks and months, and to pray for them as well.
BVI-India Financial Services Trade Mission
As most persons would know, last month, over the period August 24 to 31, 2026, I had the honour of leading a delegation alongside the Junior Minister for Financial Services, Economic Development and Digital Transformation, Honourable Lorna G. Smith, OBE, on our first Financial Services Trade Mission to India.
This morning, I would like to report to the Virgin Islands public on the mission and it fits within our wider economic strategy for the Virgin Islands.
Our government delegation of 12 persons included senior officials from BVI Finance, the Financial Services Commission and our Hong Kong office, alongside 18 private sector individuals representing different parts of the BVI financial-services sector who travelled to India at their own expense.
Before I go further, I want to place on record my sincere appreciation for the warmth of the welcome extended to our delegation throughout our time in India.
Across New Delhi, GIFT City in Gujarat, Mumbai and Bengaluru, we were met with generosity, openness and a genuine willingness to engage.
My Government and I are particularly grateful to the Ministers, senior officials, regulators, financial institutions, business leaders and professional partners who made time to meet with us and who engaged so seriously with the opportunities for closer cooperation between India and the Virgin Islands.
The level and quality of that engagement was significant. It demonstrated a genuine appetite on both sides to deepen those relationships and explore what we can achieve together.
Over the past four decades, the Virgin Islands has become one of the world’s leading international financial centres. That success only happened because we were willing to engage with the outside world and take active steps to position the BVI within the markets where growth was taking place.
Amid a rapidly evolving global environment, it stands to reason that we must therefore continue to nurture the relationships that have served the Virgin Islands well, while diversifying and developing new partnerships which can make our financial system ever more resilient and deliver results for all Virgin Islanders in the decades ahead.
As one of the world’s fastest-growing economies, India is an important part of that strategy.
In recent years, India’s capital markets have matured significantly as growing numbers of Indian companies seek to raise and deploy capital across industry, services, technology and the consumer economy. At the same time, India continues to modernise its financial system and attract greater levels of international investment to support that growth.
My Government and I recognised early-on that these trends presented a potentially historic opportunity – one which we had a responsibility to seize on behalf of all Virgin Islanders, while positioning the BVI to support India’s continued growth by helping facilitate international investment into its economy.
India has extraordinary energy, increasingly sophisticated financial markets, and a clear ambition to deepen investment and modernise its financial system.
The BVI has decades of experience facilitating legitimate cross-border investment, including through internationally recognised fund and corporate structures that can help channel international capital into growing economies.
That is why we organised this landmark mission across New Delhi, GIFT City, Mumbai and Bengaluru to deepen our ties with the Indian authorities and financial services community, strengthen trust between our jurisdictions and position the Virgin Islands as a long-term partner which can power India’s continued growth.
This carefully structured programme brought together the different expertise on both sides to build the relationships needed to support that ambition. It included engagements at the very highest levels of government, technical meetings with regulators and major financial institutions, and wider events involving a range of legal professionals, investors and business leaders.
Given the senior ministerial-level engagements which were scheduled, it was particularly important that myself and other top-level Government officials were part of the delegation to represent the BVI and directly advance its interests.
This included my meeting with India’s Union Minister of Finance and Corporate Affairs, Shrimati Nirmala Sitharaman, which provided a valuable opportunity to highlight the role which the Virgin Islands can play in supporting India’s economic ambitions, particularly as India continues to attract international capital to support its economic growth and development.
Members of the delegation also met with senior officials at the Central Board of Direct Taxes, building on the close working relationships which have helped to strengthen trust and deepen cooperation between us.
Visits of this kind matter precisely because they give us the opportunity to engage face-to-face with the senior decision makers who matter and can move forward important discussions at the appropriate level.
International financial-services relationships depend on trust between governments, confidence between regulators and a mutual understanding of how our respective economies operate.
The opportunity for our carefully selected team of financial services, regulatory, trade and industry leads to engage directly with senior Indian decision-makers allowed us to explain the BVI’s role in international finance, listen to India’s priorities, and identify areas where our interests align.
It also allowed us to build on relationships that have already been developing between the BVI and Indian authorities over several years.
As a result of the recent mission, I am confident that we established a powerful platform that will generate mutually beneficial opportunities for both India and the BVI.
This was particularly evident in our discussions around GIFT City, where we explored how the BVI’s deep experience in helping structure cross-border finance can complement India’s own International Financial Services Centre.
And I believe this is one of the areas in which the potential for long-term cooperation is particularly clear.
GIFT City represents India’s ambition to build a world-class international financial-services centre ofits own.
We do not see that ambition as a threat to the BVI. We see an opportunity to work alongside it.
Our experience in international corporate structures, investment funds, private wealth and cross-border finance can complement what India is building at GIFT City as it continues to modernise its financial system and attract greater international investment.
Importantly, our discussions throughout the mission highlighted the role that BVI fund structures can play in facilitating foreign direct investment into India, helping connect international capital with opportunities across the Indian economy.
The Virgin Islands has always prospered when it works in collaboration with other financial centres, and we believe there is now significant scope to deploy that same approach in India.
The same principle informed our engagement with the National Stock Exchange in Mumbai, strengthening the BVI’s links with India’s capital-markets community.
Alongside these institutional meetings, we also held dedicated BVI Financial Services Roadshows in New Delhi, Mumbai and Bengaluru, bringing our industry directly together with Indian investors, fund managers, advisers and financial institutions.
A particular focus was the BVI’s funds offering and the role that BVI structures can play in facilitating investment into India, while creating new opportunities for our own financial-services industry.
At the same time, our experience of successfully building our financial services offering in Asia has taught us that results do not appear overnight.
Instead, we know that long-term business opportunities depend on establishing trust, and that this can only be established through continuous engagement and collaboration over time.
The work following the mission is therefore just as important as the visit itself.
In the months ahead, we will continue to progress the conversations started with the Indian authorities, and work closely with the Ministry, BVI Finance and members of the private sector to further develop the commercial relationships established during the mission.
In doing so, we are pursuing exactly the objective I set out at the beginning of my remarks: keeping the Virgin Islands fully engaged on the international stage and ensuring that we remain well positioned as new centres of global growth emerge.
Ultimately, this is about the future of our Territory.
A strong and internationally competitive financial services industry supports Government revenues, sustains our professional services sector, and creates opportunities for Virgin Islanders across every sector of the economy.
India represents an important chance to strengthen that foundation for the years ahead and we have made an important start.
We now have deeper relationships with senior Indian Government and regulatory counterparts.
We have secured specific opportunities for continued engagement in 2027.
We have strengthened relationships with India’s capital-markets, legal, investment and business communities.
We have created pathways for key industry players to engage with and participate in one of the world’s most dynamic financial-services markets.
And we have gained a much clearer understanding of how BVI expertise and fund structures can support India’s continued growth and help facilitate greater international investment into its economy. As a government, our responsibility now is to continue the work and ensure that, over time, the partnership with India translates into lasting value for everyone in the Virgin Islands.
So, I have spoken about the strategic importance of India and why building this relationship matters to the future resilience and prosperity of the Virgin Islands.
But ultimately, this strategy must translate into opportunity for our financial-services industry and into economic growth for both economies.
And so, I would now like to ask the Minister to speak in more detail about what the mission delivered for our financial-services sector and the commercial opportunities we are pursuing.
Constitutional Reform Update
As we continue forward with our agenda for this media conference, I wish to take a few moments to provide the people of the Virgin Islands with an update on the progress of our constitutional negotiations with the United Kingdom.
As you know, the first round of formal constitutional negotiations was held here in the Virgin Islands on 14 and 15 July 2026. Discussions then continued in the United Kingdom on 10 and 11 September during my bilateral meetings with the Minister responsible for the Overseas Territories. Next week, together with the Virgin Islands Constitutional Negotiating Team, we return to London for the second round of formal negotiations.
I am pleased to report that, thus far, the discussions have been healthy, constructive, and positive. This is important because constitutional reform is not simply a political exercise. It is a process that requires mutual respect, good faith, and a shared commitment to securing the best possible future for the people of the Virgin Islands.
The need for constitutional reform is both timely and necessary. Constitutions are generally designed to evolve with the societies they serve and, ideally, to be reviewed and renewed approximately every decade. Our current Constitution Order came into force in 2007. Nearly twenty years later, it has served the Territory well, but it is now almost a decade past the point at which revision would ordinarily be expected.
The Virgin Islands of 2026 is not the Virgin Islands of 2007. We have grown economically, matured politically, and developed stronger institutions and greater capacity for self-governance. Our constitutional framework must reflect those realities and provide the foundation necessary for the next stage of our national development.
For a people journeying toward greater self-determination, a modern Constitution is indispensable. It defines the relationship between the people and their government – and the relationship between our Virgin Islands society and our Administrating power, the UK. It protects our rights and freedoms, strengthens democratic accountability, and establishes the powers and responsibilities necessary for effective governance. Most importantly, it provides a clear expression of who we are as a people and the values we seek to uphold for future generations.
This work is therefore about much more than constitutional clauses and legal provisions. It is about shaping the framework through which our children and grandchildren will govern themselves, pursue opportunity, and preserve the identity and heritage of these Virgin Islands. The decisions we make today have the potential to determine the course of our Territory’s future for decades to come.
The new Constitution represents an opportunity to bring closer the realization of the dreams and aspirations that generations of Virgin Islanders have held for our people: greater empowerment, stronger democratic institutions, increased local decision-making, and the continued advancement of our society in a manner that reflects our unique history, culture, and ambitions.
As we prepare for the next round of negotiations, I remain optimistic and encouraged by the progress that has been made. The Constitutional Negotiating Team and I remain committed to advocating firmly, responsibly, and strategically on behalf of the people of the Virgin Islands.
This is a defining moment in our constitutional journey, and I look forward to continuing to keep the public informed as this important work progresses.
