Explainer: New Rules For BVI Non-Belonger Landholders

The BVI (British Virgin Islands) Ministry of the Environment, Natural Resources and Climate Change (the Ministry) adopted new Non-Belonger Landholder Licensing process rules. Automatic rental permission is one of several welcome policy changes. The updated procedures—Policy No. 1 of 2023—were scheduled to be effective on 18 December 2023, with the caveat that it is subject to change to accommodate legislative amendments and market conditions.

The new rules include built-in rental approval subject to obtaining a trade licence and fixed timelines for processing applications once they are submitted. In addition, the standard period for the development commitment for residential property developments has been increased from three to five years, with the possibility of an additional two-year extension.