The Government has announced plans to roll out an invest-and-stay programme to attract new investors into the economy.
“We are also working out the details for an Invest-and-Stay programme to attract persons who would like to invest in specific areas of our economy,” Premier Fahie stated in his 2021 budget presentation on Thursday, November 12.
It appears that the programme stops short of a full citizen by investment programme which other Caribbean countries have implemented as Premier Fahie explained briefly that the investors would be allowed to live in the BVI, but they will not be afforded the benefits that go with Belongership.
“However, they will be mandated to employ an agreed number of persons in the BVI based on the size of their investment,” the Premier stated.
The Premier announced that Government is developing the terms and conditions for a BVI In-Stay programme, which will allow persons to come to the BVI and stay for an extended period.
He explained that the main target group are persons who are able to do remote working for jobs in their home countries.
“So, these individuals will not be competing in the local job market, but that the same time they would be renting accommodations, patronising our businesses, enjoying what the BVI tourist experience has to offer and contributing to economic activity,” the Premier stated.