Beautiful Virgin Islands

Monday, Jun 30, 2025

BREXIT impacts on VI trade & travel starts Jan 1, 2021

BREXIT impacts on VI trade & travel starts Jan 1, 2021

Virgin Islands (VI) Premier and Minister of Finance, Hon Andrew A. Fahie , has warned of the implications of BREXIT on the territory, which takes effect from today January 1, 2021.

With the people of the United Kingdom voting to leave the European Union in June 2016 by a referendum, the transitional period of the exit official came to an end on December 31, 2020, and according to Hon Fahie in a statement released on the same evening, the VI should brace for several changes moving forward.

Free movement across EU comes to an end


With regards to travel and freedom of movement, the Premier noted that British Citizens will no longer retain the right to move freely across European Member States.

“Holders of British Passports and British Overseas Territories (BOTC) passports travelling as Tourists will now have visa-free travel for up to 90 days in any 180-day period while travelling within the Schengen Area,” Hon Fahie said.

As such, persons planning longer stays for work, to study, or to conduct business in the EU, would have to check entry requirements for each country and should be prepared to answer questions regarding the reasons for their visit and their financial capacity to sustain themselves while in Europe.

VI not covered under UK/EU tariff-free trade


Regarding trade, the Premier said that the new UK-EU Trade and Cooperation Agreement provides for tariff-free and quota-free trade in goods, between the UK and the EU.

“The Overseas Territories are not included in this arrangement, however, with the exception of Tristan Da Cunha for the export of Lobster into the EU market. From 1st January 2021, the other Overseas Territories will no longer enjoy tariff-free and quota-free access in the export goods to the EU Market.”

He said, however, that the VI and other Overseas Territories had non–reciprocal access to the EU market, therefore, goods imported from the EU will not be affected.

“The new UK-EU Trade and Cooperation agreement does not cover Trade in Services, including Financial Services, which will be addressed in a subsequent agreement at a later date. As the EU conducts trade with the BVI as a Third Country, the BVI’s trade-in Services with the EU will not be affected by the new arrangement.”

Access to EU development funds cut


Finally, with regards to access to development funds, he said the Virgin Islands has long enjoyed a politically beneficial relationship with the European Union through its Associate Status as one of the Overseas Countries and Territories (OCTs) directly associated with the bloc.

“Through this relationship, the Virgin Islands has worked closely with the EU on European Development Fund (EDF) programming and other collaborative initiatives which have been used to tackle issues such as climate change, marine biodiversity and pursue renewable energy goals.”

The Premier said that while existing projects will be allowed to continue, the Virgin Islands and other British Overseas Territories will no longer have access to any future funding support from the EU for sustainable development beginning Today, January 1, 2020.

VI/UN cooperation to address funding gaps


According to the Leader of Government Business, “The World is changing around us and we too must change and adapt. Despite the unfortunate implications of this reality on the Virgin Islands, your Government has been proactive in ensuring that we bridge the gaps left by Brexit.”

He said in terms of replacement of EU funding, the territory has taken steps to strengthen relations and cooperation with the United Nations to advance the sustainable development of the Territory.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
×