British Virgin Islands – Government launching RBI programme.
The government is launching a Residency by Investment (RBI) programme to boost economic growth and government revenue. Premier Natalio Wheatley described the RBI as a strategic initiative aimed at attracting foreign direct investment through residency permits, generating income from application fees, taxes on new businesses, and property taxes. Unlike Citizenship by Investment programmes, the RBI focuses solely on residency without granting citizenship. The programme will involve joint evaluations by Investment and Immigration agencies to ensure investments meet economic and immigration standards. Governor Daniel Pruce announced that the RBI will be integrated into the Immigration and Passport Act, establishing clear guidelines and a quota system based on the territory’s capacity. Currently under Cabinet discussion, the initiative aims to foster job creation, skills development, and economic diversification while maintaining strong immigration controls.
Source: Caribbean Insight