British Virgin Islands (BVI) Premier Natalio Wheatley has confirmed that the territory’s government is still working toward a residence-by-investment (RBI) program, though no launch date or investment thresholds have been finalized.
“In the past, we’ve considered residence by investment programs […] It’s something that we continue to discuss,” Wheatley said at a press conference in Road Town on March 5. He pointed to existing programs elsewhere in the region as precedent.
“Residence investment programs exist in places like the Cayman Islands and other places; many countries have those programs in place in terms of encouraging investment and providing either residents or citizenship benefits for persons who contribute at a certain level,” Wheatley observed.
“Security Implications”
Still, the Premier emphasized caution. “Those things have to be carefully considered for their implications, including security implications,” he said, responding to questions about regional citizenship by investment (CBI) programs that have drawn scrutiny from both the United Kingdom and the United States.
As a British Overseas Territory (BOT), the BVI cannot grant citizenship on its own. Wheatley acknowledged the constraint directly: “Of course, the Virgin Islands itself, we can’t issue citizenship. That’s something for the United Kingdom government to do.”
Residency, however, falls within the territory’s legislative authority. Under the program structure outlined in January 2025, the BVI Residency by Investment (BVIR) program would operate under the Immigration and Passport Act, with a quota system and dual vetting by the territory’s Investment and Immigration agencies. After five continuous years of residence, BVI residents can apply for British Overseas Territories Citizenship (BOTC) and subsequently for full British citizenship.
Political Runway
Wheatley has the legislative numbers to move forward with the plan if he chooses. After returning former deputy premier Lorna Smith to a new ministerial role in March 2025, his government holds an 8-5 majority in the House of Assembly.
The broader governance picture has also shifted in his favor. On March 13, the UK formally revoked the 2022 Order in Council, a constitutional amendment imposed following a Commission of Inquiry into corruption under former Premier Andrew Fahie.
Wheatley called the revocation “a national victory.” Constitutional negotiations between the BVI and the UK are set to begin this year, with Wheatley serving concurrently as president of the UK Overseas Territories Association (UKOTA).
Whether the RBI program becomes part of that pre-election push remains an open question. At the same press conference, Wheatley declined to confirm whether the territory would hold elections in 2026.
