Road Town, British Virgin Islands – 6 November 2026 – The British Virgin Islands is setting its sights on a greater share of the global maritime industry, bringing together two of the jurisdiction’s established strengths: its position as a leading international financial centre and its expanding British ship registry.
That ambition took centre stage on Tuesday, 3 November, as BVI Finance and the Virgin Islands Shipping and Maritime Authority (BVI Maritime) hosted “BVI Maritime Expansion: Building the Ecosystem Together”, a joint industry forum focused on strengthening collaboration, identifying new business opportunities and positioning the BVI as a more competitive jurisdiction for vessel ownership, registration and related professional services.
The engagement comes at a significant point in the BVI’s maritime development, following approval from the United Kingdom’s Maritime and Coastguard Agency (MCA) for the BVI to operate a Category 1 ship register, opening the door to the registration of large commercial vessels.
For an industry already responsible for incorporating and administering companies involved in international vessel ownership, the message was clear: the BVI has an opportunity to capture more of the business associated with the vessels those companies own.
Opening the discussion, BVI Finance CEO Elise Donovan challenged industry practitioners to consider how the BVI could better connect its corporate services, legal expertise, financing capabilities and maritime administration into a more comprehensive international offering.
“Our goal should be that when people see the BVI name attached to the maritime business, it conveys quality, credibility, and confidence,” Donovan stated.
She stressed that the opportunity extends beyond increasing the number of vessels flying the BVI flag. Greater coordination could generate additional company incorporations, professional services activity and opportunities for local businesses, while ensuring that the jurisdiction's reputation for quality and compliance remains central to its growth.
BVI Maritime Managing Director John Samuel reinforced the commercial significance of the initiative, outlining the Authority's progression from a registry primarily associated with recreational vessels to a maritime administration equipped to support larger yachts and commercial ships.
With the Category 1 approval secured, the Authority is now developing the operational capacity and international relationships necessary to compete in the global shipping market. This includes strengthening its presence in London and Europe, expanding business development activity and maintaining the rigorous standards expected of a British Red Ensign Group register.
Samuel emphasised that shipping represents an enormous international industry, with opportunities extending into vessel management, corporate structuring, registration, compliance and other professional services.
Business Development Manager Georgios Bazos provided further insight into the Authority's international outreach, noting that conversations with shipowners, managers and other maritime stakeholders frequently begin with an existing BVI company or an interest in establishing one.
He identified a significant opportunity to convert those relationships into vessel registration business, while highlighting the importance of international visibility, competitive service delivery and closer cooperation between the Authority and BVI service providers.
Bazos also reinforced that growth would not come at the expense of quality, with strict eligibility, vessel vetting and compliance requirements remaining fundamental to the BVI's positioning as a premium maritime jurisdiction.
New Identity, New Markets and New Opportunities
The forum also introduced industry stakeholders to BVI Maritime's new corporate identity, presented by Adrianna Soverall of Soverall & Co., communications advisor to the Authority.
The refreshed identity seeks to establish a more recognisable and consistent international presence for the Territory's maritime administration, drawing on the heritage of the British Red Ensign while strengthening its connection to the wider BVI brand. A formal launch is being planned.
Ship Surveyor JejoJoy Neelankavil introduced the Authority's Yacht Engaged in Trade (YET) offering, an important development for the superyacht market.
The arrangement enables qualifying privately registered yachts exceeding 24 metres to undertake occasional commercial charters in participating European jurisdictions without the traditional requirement to leave those waters to change registration status. The offering provides additional flexibility for eligible yacht owners while preserving applicable commercial compliance standards.
The Authority confirmed that the offering is already operational, with its first participating yacht having completed charters in France and Monaco.
Industry Collaboration at the Centre of Growth
An open discussion with industry representatives examined several issues central to the BVI's maritime competitiveness, including flag growth, registration fees, the responsibilities of representative persons, regulatory compliance, service delivery and opportunities to improve the client experience.
Both organisations reaffirmed their commitment to continued engagement, improved industry awareness and a more coordinated approach to international promotion.
Upcoming Industry Training – BVI Ship Registry Framework 2026
Natalie Pickering of BVI Maritime outlined the Authority’s upcoming events and initiatives, including its BVI Ship Registry Framework 2026 industry training, scheduled for Friday, 13 November 2026, at the BVI International Arbitration Centre.
The training will cover vessel registration procedures, compliance requirements, eligibility criteria and business development opportunities. It is designed for representative persons, registered agents, corporate service providers, legal professionals and others interested in the Territory's expanding maritime sector. No previous vessel registration experience is required.
Registration closes Monday, 9 November 2026.
Register here: https://forms.gle/EicDkJLMwdEBWAGdA
For further information on the training session, contact BVI Maritime at vishipping@bvimaritime.vg.
ENDS
About BVI Finance
BVI Finance is responsible for protecting and promoting the British Virgin Islands’ financial services industry. The BVI is recognised as a leading international business and finance centre, offering a robust legal framework, a stable and business-friendly environment, and a strong reputation for regulatory compliance.
With strategic expertise across wealth management, corporate services, trusts, fund administration, and digital assets, the BVI continues to attract global businesses, investors, and financial professionals who use its products and services.
About the Virgin Islands Shipping and Maritime Authority (BVI Maritime)
The Virgin Islands Shipping and Maritime Authority is responsible for maritime administration in the (British) Virgin Islands, including Registration of Ships under the Virgin Islands flag. Vessels registered trade globally under the Virgin Islands (UK) Red Ensign. For more information, visit bvimaritime.vg.
For further information, please contact:
Shamahl A. Smith
Communications and Research Officer
BVI Finance
Email: ssmith@bvifinance.vg
Telephone: +1 284 852 1957
For international media enquiries, please contact:
MHP Group
Email: bvifinance@mhpgroup.com