The church in Tvøroyri was constructed in Norway as a building set, moved to Tvøroyri and then built here in 1907, ready to use in 1908. The old church was moved to Sandvík.
Tvøroyri has two neighbour villages which have grown together with Tvøroyri, with Tvøroyri in between. Trongisvágur is further west, it lies around the fjord and a bit into the valley Trongisvágsbotnur. The home stadium of TB/FC Suðuroy/Royn is located in Trongisvágur. The former football field of TB Tvøroyri was located on Sevmýri in Tvøroyri.
The other neighbour village is called Froðba. It is further east on the north side of the fjord, on the same side as Tvøroyri. Froðba has columnar basalt along the road. The poet Poul F. Joensen had his home in Froðba, there is a monument there to honour him. Froðba and Trongisvágur are older villages than Tvøroyri.
When the monopoly was abolished in 1856, private companies were founded on Tvøroyri. One of these grew into the largest in the Faroe Islands. It had 20 branches and 30 ships. Down by the harbour, north of Seglloftið, lies a square covered by flat stones. Fish used to be dried in the sun here. The Royal Trade Monopoly that had a branch here from 1836 to 1856 built the old houses in the area. The village of Tvøroyri was actually founded due to this branch. Tvøroyri has a large fillet-factory that initiated its production in 1975.
The ferry Smyril M/F has 2-3 daily departures from Tórshavn, it calls at Krambatangi ferry port, which is located on the opposite side of the inlet. The trip from Tórshavn to Tvøroyri takes 2 hours. The ferry takes 200 cars and 975 persons. There are two bus lines in Suðuroy, line 700 goes to the southern part of the island with Sumba as its end station, 701 goes to the northern part of the island, the end stations are in Sandvík, the northernmost village, and in Fámjin, which is on the west coast.
Tvøroyri and Vágur take turns in hosting an annual civic-festival called Jóansøka. It can be described as a smaller version of the Ólavsøka held in Tórshavn. Jóansøka runs in late June. Tvøroyri has a history and maritime museum and an art gallery.
The sports club TB Tvøroyri was founded in 1892 as a football club, the first in the Faroe Islands. The name TB is also used in volleyball. The club was a branch of TB Tvøroyri, but in 2016 it became an independent club with the name TB Flogbóltur. In December 2016 the three football clubs in the island Suðuroy: TB, FC Suðuroy and Royn agreed upon merging into one club. The new club will get a new name for the 2018 season, for the 2017 season the name is TB/FC Suðuroy/Royn.
There is a rowing club Froðbiar Sóknar Róðrarfelag, which was founded in 1934. A swimming club is for the whole island, it is called Susvim or Suðuroyar Svimjifelag.