Beautiful Virgin Islands

Monday, Sep 01, 2025

New king in town! Business as usual for BVI

New king in town! Business as usual for BVI

Special Envoy to the Premier, Benito Wheatley has expressed that the UK-BVI relationship will not be directly affected by the ascension of King Charles III to the throne.
King Charles was officially crowned on May 6 and even before that, calls were repeated for him to address some of Britain’s longstanding problems, such as the wealth hidden in the UK’s Overseas Territories (OT) and Crown Dependencies.

But Wheatley said the new monarch is not expected to affect the BVI’s financial services industry. And though the BVI has seen some turbulence in its relationship with the UK in recent years – particularly under the last Andrew Fahie-led administration – Wheatley explained that drastic change in the BVI’s relationship with the UK usually comes through other means.

“An Overseas Territory’s constitutional relationship with the United Kingdom will not be subject to change because a new monarch has ascended the throne. Constitutional change usually comes about as a result of a territory having a constitutional review and then subsequent constitutional negotiation between the UK government and the elected arm of the OT government,” the social commentator told our news centre.

BVI financial services sector unconcerned

CEO of BVI Finance, Elise Donovan shared similar sentiments as Wheatley. She said the BVI’s financial services sector isn’t concerned about the new monarch as he is only a ceremonial head of state.

“There has been no change in the constitutional relationship between the Virgin Islands and the United Kingdom. Consequently, the implications for financial services remain unchanged following the coronation. Similar to the [late] Queen, the King now serves as the head of state,” Donovan stated.

The British monarchy hasn’t enjoyed its usual popularity in recent years. Many Britons and people around the world see the institution as a symbol of privilege and inequality in a country of deepening poverty and fraying social ties. The spat between the royals and Prince Harry’s bi-racial wife hasn’t helped.

In recent years, the calls for the Crown to pay taxes on its wealth have gotten louder as economic conditions around the world worsen. There have also been calls for the Crown to apologize for the transatlantic slave trade and pay reparations to the nations where the descendants of enslaved people live.

The Crown hasn’t made any impactful move on any of the above-mentioned issues. Still, the global cries continue to grow louder.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×