U.S. Virgin Islands

Sectors it is courting

• Business and Professional Services
• Energy
• Financial Services
• Healthcare
• Marine Technology
• Advanced Manufacturing

Investment it is seeking from

• British Virgin Islands
• China
• Denmark
• Egypt
• France
• Germany
• Ghana
• Nigeria
• South Africa
• United Kingdom
• Canada

Site-selection services it offers

The U.S. Virgin Islands coordinates site visits for potential foreign business investors, including tours of their Industrial Park facilities on St. Thomas and St. Croix.

Incentive programmes

• Tax Credit

  The VIEDA's Enterprise Zone Program was enacted to revitalize the blighted and severely distressed communities in the U.S. Virgin Islands, as designated by the Governor of the Virgin Islands, that were once socially and economically vibrant communities. This program provides for tax incentives and tax credits as an economic development program that benefits clear and free of regulatory barriers to economic growth. Importantly, the law calls for collaboration amongst public, private and non-profit organizations to accomplish the envisioned outcome.

• Tax Exemption

  The Virgin Islands Economic Development Commission (“VIEDC”) offers a unique and attractive tax incentive program for companies locating in the USVI. This is a competitive offshore tax benefit program that is sanctioned by the U.S. Government through an Act of Congress under the Internal Revenue Code. Below are the USVI key selling points: 1. 90% reduction in corporate income tax 2. 90% reduction in personal income tax 3.100% exemption on excise tax 4. 100% exemption on property taxes and gross receipts tax 5. Imported goods pay only 1% duty in comparison to the statutory 6% customs rate.

• Tax Refund or Rebate

  The Sustainable Tourism through Arts-based Revenue Stream (S.T.A.R.S.) is designed to advertise and promote the U.S. Virgin Islands as an ideal location for major and minor film productions and music/audio recording projects. The diverse landscape of the USVI is perfect for the production of motion pictures, documentaries, television programs, commercials, music videos, and magazine advertising. Incentives include up To 17% Transferable Tax Credit. Cash Rebate: 9% of total qualified production expenditure (QPE) during a tax year up to a maximum of $500,000 (For example: 9% of $5M QPE = $450,000) If calculation exceeds $500K the maximum will be rebate. Additional 10% of total QPE if QP activities are done on St. Croix – (on a $5M project this would amount to $500K). Additional 10% of total QPE if the Territory Certified Production includes a Qualified Virgin Islands Promotion (like an end credit-approved) – (on a $5M project this would amount to $500K). Additional rebate: (paid out after CPA required audit) Reduction in hotel tax rates may be applied to both resident and non-resident production companies. CAP: $2,500,000 PER ANNUM (The aggregate amount of cash rebates granted to all production companies in any particular year is subject to the cap).

Programmes for international technology startups

The Economic Development Commission (EDC) is charged with promoting the growth, development and diversification of the economy of the United States Virgin Islands by developing the human and economic resources of the Territory, preserving job opportunities for residents of the U.S. Virgin Islands, and promoting capital formation to support economic development in the Territory. Its program is eligible to businesses interested in moving, expanding or relocating to the territory. Startups and early-stage companies may be eligible to participate. Tax benefits - The EDC administers a tax incentive program for businesses in which approved applicants shall be granted 90% personal and corporate income tax exemption; 100% exemption in excise taxes, gross receipts, and business property tax; and a 1% customs duty from the standard 6%. These benefits can be renewed provided that the applicant remains in compliance.

Programmes for international clean-energy projects

The trade zone program is the newest tool added to the U.S. Virgin Islands’ economic development arsenal, which offers tax incentives to qualifying businesses that operate within the designated area of St. Croix’s south shore. This zone boasts over 300 acres of relatively flat greenfield space with electrical, water, sewer, fiber optics, and telephone utilities already on site, deep water ports, and warehouse space directly on the Henry E. Rohlsen Airport. Indeed, the trade zone will usher in an era of increased business activity in St. Croix, including transshipment, manufacturing, and other heavy industry. This program provides up to 20 years of tax exemptions to qualifying companies: 90% income; 100% customs duties; 100% excise tax; 100% gross receipts, and 100% property tax.

Additional services

The newest tool added to the U.S. Virgin Islands’ economic development arsenal is the trade zone program, which offers tax incentives to qualifying businesses that operate within the designated area of St. Croix’s south shore. This zone boasts within it over 300 acres of relatively flat greenfield space with electrical, water, sewer, fiberoptics and telephone utilities already on-site, deep-water ports, and warehouse space directly on the Henry E. Rohlsen Airport. Indeed, the trade zone will usher in an era of increased business activity in St. Croix to include transshipment, manufacturing and other heavy industry. Including the added benefit of being the only American territory with exemption from the Jones Act.

Who to contact

• Celina MorrisDirector, Marketingmarketing@usvieda.org(340) 714-1700

8000 Nisky Shopping Center, Suite 620, St. Thomas, VI 00802