TORTOLA, British Virgin Islands, CMC—Premier Dr. Natalio Wheatley has signaled that his government will soon reintroduce the updated Commercial Recreational Vessel Licensing Act, 1992 (CRVL), after successfully negotiating with the United States Virgin Islands (USVI).
The bill—first introduced in January—seeks to revise the fees charged by the BVI to USVI-based charter vessels.
However, following pushback and threats of reciprocal tariffs from the USVI, the House of Assembly passed the bill. At the same time, both territories worked toward a mutually beneficial agreement for their interdependent charter industries.
Earlier this week, the BVI and USVI concluded those negotiations, settling on fee structures and operational measures that support both economies. In a statement, Premier Wheatley confirmed that the government is now prepared to finalize the amended legislation.
“The Government of the Virgin Islands will formally present the revised legislation—the Commercial Recreational Vessel Licensing Act, 1992 (CRVL)—the Amendment Bill received its first reading on Tuesday, 7th January. The bill’s second reading is on the order paper of the current active sitting in the House of Assembly,” the statement said.
During the March negotiations, the BVI proposed new fees for foreign-based term-charters, including an annual fee of US$7,500 for up to seven entries and US$24,000 annually for unlimited entries.
Day charter licenses were initially set at US$12,500 per year, while water taxi licenses were proposed at US$2,500 annually.
Wheatley described the updated bill as a significant move toward modernizing the territory’s maritime industry and aligning operations across borders.
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