As you may or may not be aware, a large part of our focus over the past several years has been managing the ever-changing landscape of running charters into the BVI.   While we have been extremely effective and navigating this issue, the government of the British Virgin Islands has drawn a line in the sand that will change chartering in the Virgin Islands beginning this upcoming season.

 

The Changing Charter Landscape

The British Virgin Islands government has recently implemented significant changes to its charter fee structure. These new regulations dramatically increase the annual fees for USVI-based charter vessels entering BVI waters from approximately $400 to $24,000 for unlimited charters - a nearly 6,000% increase. This substantial change will significantly impact the USVI charter industry and how vessels operate between the territories.

 

The secondary option would give each charter vessel a maximum of 7 charters per season, with a 3-night maximum within the BVI territory. These yachts will be subject to a $7,500 annual fee, which does not make this a reasonable option for the
yacht owners in our fleet or for our charter clients.
 

USVI vs BVI Charter Analysis

After careful analysis of every charter over the past two years, we have found that 30% of our charters are USVI only, while the remaining 70% travel to the BVI for more than three nights.

Charterers who choose to stay within the USVI cruising grounds typically, do so for one of four reasons:
 

1. Quieter, less crowded mooring fields

2. Ease of travel
3. They don't want the expense or hassle of clearing BVI Customs and Immigration
4. Some, or all, of their group, do not have passports

 

Given this data set, Virgin Islands Yacht Charters, in furthering its commitment to our yacht owners and charter guests, has taken the following actions:

 

We have established a base in the heart of Road Town, Tortola, in the beautiful Village Cay Marina and Hotel (www.villagecaybvi.com).  Village Cay Marina, while already a comfortable base of operations, is in the process of a $100M expansion and beautification project that will allow us to grow and flourish in the absolute center of the BVI cruising grounds.  Provisioning is within walking distance, an onsite restaurant, and all that Road Town has to offer is right out the door.

 

We are maintaining our base at Compass Point Marina on St Thomas, USVI.  Vessels based at Compass Point will be US-only charter vessels. VIYC will maintain a smaller fleet, largely consisting of our slightly older yet wonderfully maintained charter vessels aimed at our value-driven customer base and for those looking to explore the beautiful islands of St Thomas, St John, Water Island, and St Croix. Not to mention the extended option of sailing to the Spanish Virgins Culebra, Culebrita, and Vieques.

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OTHER OPTIONS for YACHTS HOME BASED IN THE BVI

There are other options for yachts that are based in the BVI to be able to include charter time in both territories:

1. Charter 100% in BVI waters.
2. Include the USVI in your itinerary by clearing out of BVI.
3. Begin your charter in the BVI and return the vessel to our St Thomas base to fly out of the St Thomas airport. There is a relocation fee.

 

While change is never easy, our commitment at Virgin Islands Yacht Charters has always been to provide our valued yacht owners, broker partners, and charter clients with the easiest and best options for navigating the waters of the US and British Virgin Islands without missing a

thing. 

 

We strongly believe that the two-tiered strategy laid out in this email will mitigate the negative effect of the new BVI regulations and give our guests options.

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Thank you for chartering with us and we'll see you in the Virgin Islands!!

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Jim and Kristi Query