BVI Premier Natalio Wheatley reiterates support for the Residence-by-Investment (RBI) scheme, while deadlines and eligibility thresholds remain undecided

Natalio Wheatley, Premier of the British Virgin Islands (BVI), confirmed that local authorities are continuing their work on the Residence by Investment program (RBI). At the same time, he stressed that neither the start date nor the exact investment eligibility levels have been finalized or approved.

Addressing reporters at a press briefing in Road Town on March 5, Wheatley said the topic has been under discussion for some time and continues to be considered by the government. He added that comparable models exist elsewhere in the region, where administrations seek to attract investment by offering applicants defined benefits tied to their contribution.

“We’ve reviewed residence-by-investment programs […] and we keep talking about this,” the prime minister said, referencing established examples such as the Cayman Islands and other comparable jurisdictions.

Consideration of risks and “security implications”

Wheatley also underlined the importance of proceeding carefully. In his remarks, any decision on the initiative must reflect security implications and other possible risks.

The comments were made as interest across the region in citizenship by investment (CBI) options linked to the UK and the US has been increasing.

There is also a fundamental legal limitation. As a UK overseas territory, the BVI does not have the authority to grant citizenship independently. Wheatley stated this directly: “Naturally, the Virgin Islands themselves cannot confer citizenship. That responsibility belongs to the UK government.”

That said, the territory can regulate residency-related matters. Under the approach discussed in January 2025, the proposed BVI Residency by Investment (BVIR) framework is expected to be implemented through the Immigration and Passport Act. The draft includes a quota-based system and a two-step due diligence procedure handled by the territorial authorities, covering both the investment component and the immigration assessment.

Following five years of uninterrupted residence, applicants would be able to request British Overseas Territories Citizenship (BOTC), and later—if eligible—progress to full British citizenship.

Political momentum and a path to progress

According to Wheatley, the administration has enough room within its legislative process to move the proposal forward. After former Deputy Prime Minister Lorna Smith returned to a new ministerial post in March 2025, the government reportedly commands an 8–5 majority in the House of Assembly.

Relations with the UK have also been shaped by wider political events. On March 13, the UK officially withdrew the Order in Council 2022, a constitutional change introduced after a probe by the corruption commission conducted under the previous premier Andrew Fahie.

Wheatley described the UK’s action as a “victory for the country.” He also noted that constitutional discussions between the BVI and the UK are expected to begin this year, and that he will be serving as President of the UK Overseas Territories Association (UKOTA).

Whether the RBI initiative will feature in the election platform is still uncertain. During the same media interaction, Wheatley declined to state whether elections in 2026 are scheduled.

If you are weighing residency-by-investment (RBI) options and want to understand how these programs typically work in practice, the Digital Nomad team can assist you in planning your next steps and assembling the correct documentation for your situation. Compare the main requirements and risk considerations, then select the route that matches your objectives: https://digital-nomad.gr/en/goldenvisa

Our Telegram channel about various types of Greek residence permits, digital nomad programs, and the Greek Golden Visa: @digitalnomadgr