Growth and Partnership Forum reveals major revenue opportunities for local businesses as the Virgin Islands Shipping and Maritime Authority expands beyond yacht registration
ROAD TOWN, British Virgin Islands, Nov. 18, 2025. The Virgin Islands Shipping and Maritime Authority (VISMA) has outlined a dual-pathway growth strategy to expand beyond yacht registration into merchant vessel flagging, encouraging the local business community to position for new revenue across the global maritime market. The plan, unveiled at VISMA’s Growth and Partnership Forum, highlights new revenue-generating opportunities for local service providers in a sector that moves most of the world’s trade.
“The vessels are out there. The companies exist. The opportunities are real,” Samuel said. “We are retooling and transforming VISMA into a world-class operation. Now it is time for the BVI business community to position itself and claim its share of this trillion-dollar industry. By focusing on both yacht and commercial fleets, we are aligning with how the maritime industry operates today.”
Billion-dollar opportunities in two sectors
Yacht economy. VISMA projects that expanded yacht activity could generate significant annual economic impact through marina services, technical maintenance, crew support, professional services and regulatory compliance.
Merchant fleet. VISMA plans to launch merchant vessel registration in 2026, positioning the territory to compete for commercial shipping clients that carry the most global trade value.
Opportunities for BVI businesses
The forum highlighted numerous opportunities arising from expanded vessel registration, including harbour and marina operations, fuel and provisioning, mechanical and hull maintenance, safety equipment, crew logistics, legal and accounting services, banking, insurance and finance, documentation and compliance support, and ancillary services such as waste, laundry and logistics. VISMA also encouraged firms involved in company formation and maritime legal work to link clients with BVI vessel registration under the British Red Ensign.
“We have BVI companies owning vessels flagged elsewhere, and our own service providers may not realise they are missing a revenue opportunity,” Samuel explained. “When you are forming a company for vessel ownership, the conversation should include flagging options. BVI is now a compelling choice with our duty exemption, British Red Ensign prestige and global infrastructure.”
Growth partnership model
Maritime expert Flor Torrijos, who leads Panama-based InterMaritime, told forum attendees: “Registries now service vessels wherever they operate. At InterMaritime we support fleets globally. The same approach can work in the Virgin Islands, with BVI businesses growing alongside VISMA. When clients trade in Singapore, you build capability in Singapore. Over time, that record of delivery positions your BVI company to be invited to support new registries globally.”
This partnership model shows how local BVI businesses can become internationally recognised service providers as VISMA’s global presence develops.
About VISMA
The Virgin Islands Shipping and Maritime Authority (VISMA) is the statutory authority responsible for maritime affairs in the British Virgin Islands, including vessel registration, maritime safety and regulatory compliance. Established to promote the BVI as a leading maritime jurisdiction, VISMA operates under the British Red Ensign Group and maintains global standards for maritime services.
Media contact: Meslyn George, meslyn@eemsbvi.com, 284-441-0018