US Virgin Islands

IBCF Services inUS Virgin Islands

Entity Formations and Foreign Registrations

With corporate laws similar to those in Delaware and Nevada, it should perhaps not be surprising that many businesses and investors choose the US Virgin Islands to incorporate or form LLCs.

Forming an LLC in the US Virgin Islands (USVI) offers various tax advantages, sanctioned by the U.S. government, for qualified businesses.

Some advantages of LLC formation for business owners include the possibility of having a single member of the LLC (as opposed to a minimum of two members in most jurisdictions), that members and managers can be private persons or corporations, and meetings of managers and members are optional. A foreign LLC can be easily qualified to do business in the USVI. The USVI LLC structure has proven very popular with owners of real estate.

There are tremendous financial incentives from the US government for USVI corporations, including a tax reduction of up to 90% (please see the Economic Development Commission Tax Incentive Program for more information) [link in new window to: https://www.usvieda.org/incentives/edc-program]. Other benefits of forming a USVI corporation include low minimum authorize capital, only one minimum shareholder, and a friendly environment for offshore investors. Foreign corporations can easily qualify to do business in the USVI, much like LLCs.

Registered Agent/Registered Office

For additional information about this service, speak with a corporate specialist directly at +1 845 398 0900 or complete the contact form and a corporate specialist will contact you shortly.

Document Retrievals (i.e Good Standing, Certified Copy)

The Corporate registry issues good standing certificates and certified copies of documents on file

Apostilles/Legalizations

For additional information about this service, speak with a corporate specialist directly at +1 845 398 0900 or complete the contact form and a corporate specialist will contact you shortly.

Due Diligence Searches (i.e Lien, Judgment, Bankruptcy)

IBCF is also able to assist with other due diligence such as bankruptcy searches, UCC searches and credit reports

Compliance

Doing business in a foreign jurisdiction is time consuming enough, let alone the corporate governance and reporting that goes with it.

Partnering with IBCF as your single point of contact can assure you that your critical corporate compliance requirements are handled in a timely, expeditious and cost conscious manner.

An overview of our corporate compliance offerings include:

• Manage yearly jurisdictional compliance requirements and information
• Preparation and filing of statutory filings with corporate registry
• Maintenance of corporate information on compliance specific platform
• Due date tracking capabilities
• Maintain company shareholders and minutes
• Prepare board and/or shareholder resolutions
• Prepare and file audit documents related to corporate changes
• Prepare and file director, officer and shareholder changes
• Prepare meeting documents
• Registered Agent/Registered Office
*Availability of Services are subject to change

For additional information and pricing about our corporate compliance offerings, please contact us and a compliance specialist will contact you shortly.

Business Licenses

Domestic and foreign corporations, partnerships, and sole proprietorship engaging in any business in the U.S. Virgin Islands must obtain a business license from the Department of Licensing and Consumer Affairs (DLCA).

The licensing and permitting requirements, however, are different based on industry, location and market. For example, businesses selling prepared food are required to have a health certificate from the Virgin Islands Department of Health. The sale of alcoholic beverages, restricted to bars and other clubs, must obtain approval from the Department of Licensing & Consumer Affairs.  Certain professions such as engineers, plumbers and beauticians must be certified by their respective board to practice in the USVI.

Licenses are assigned according to the U.S. Standard Industrial Classification and the fees are set by either the Legislature of the Virgin Islands or by the Commissioner of Licensing & Consumer Affairs.  Depending upon the type of the business you are conducting, several licenses may be required.  Annual license fees typically range from $50 to $1000 depending on the type of business. Please reach out to our corporate specialists who can assist with obtaining the licensing appropriate for your USVI business.