Called the ‘Work-in-Paradise’ programme, persons will be able to come to the territory and work at their remote jobs; however, those jobs cannot be from the Virgin Islands, Hon Fahie said in a statement released on Friday, April 16, 2021.
“They can come to the BVI and stay for an extended period. During this time, they will not be able to work for any local company or business. But they can perform their foreign-based job,” the Premier said.
He said persons will be able to access hotels, villas, apartments, car rentals, taxi, and tour operators, restaurants and other local services.
“But they will be paying for it with their foreign earnings, and that means we will be drawing in money from outside of the Territory, which will be going into our economy,” Hon Fahie assured.
Meanwhile, Hon Fahie also mentioned that another programme, called ‘Invest and Stay programme’, will also foreign investors to live in the Virgin Islands with the aims of investing substantial sums of money in approved businesses and industries as well as hiring locals.
“Please note, persons approved for this initiative will not get any special exemptions for purchasing land or property; they will not get citizenship rights and the time spent in the BVI will not count towards applying for Residency or Belongership,” he said.
While the Premier did not provide a date when either programme will launch, he said the 'Invest and Stay' will support hoteliers, villas, apartments, car rentals, taxi and tour operators, restaurants and other local services, while creating jobs and bringing their investment into the local economy.