U.S. Virgin Islands

Justin Blackhall is uniquely equipped to counsel clients on all aspects of business in the U.S. Virgin Islands. He was born and raised on St. Thomas, has practiced law there for years and maintains deep ties to the business community. Blackhall, P.C.’s maintenance of offices in New York and New Jersey as well as on St. Thomas also makes the firm well suited to assist off-island clients looking to explore the Virgin Islands as a location for their business. The firm provides its clients interested in the Virgin Islands an all-encompassing suite of services ranging from legal counsel to local travel and lodging arrangements to business formation and introduction to other necessary local professionals. Justin is also well connected to the real estate community on St. Thomas and can assist off-island clients with all their residential and commercial real estate needs.

One of the many benefits to doing business in the U.S. Virgin Islands are the tax benefits provided to certain U.S. businesses by the U.S. Virgin Islands Economic Development Authority. As an unincorporated territory of the United States, the U.S. Virgin Islands, while American, are not subject to direct taxation by the Internal Revenue Service (“IRS”). Instead, the U.S. Virgin Islands’ tax laws are a “mirror” of the U.S. tax laws and are administered separately through the U.S. Virgin Islands. The U.S. Virgin Islands is authorized, through federal and local legislation, to offer special tax incentives for qualifying American and foreign persons and entities, including “EDC” benefits from the Economic Development Authority and its Economic Development Commission or EDC Program. The EDC Program seeks to attract manufacturers, service businesses such as high-technology assembly plants, pharmaceuticals and outsourcing companies such as call centers and business as well as other qualified businesses such as trading firms to qualify for EDC benefits which can include up to:

• 90% reduction in corporate income tax
• 90% reduction in personal income tax
• Reduction in the customs duty from the standard 6% to 1%
• 100% exemption on excise tax payments
• 100% exemption on business property tax
• 100% exemption on gross receipt tax
• Tax reduction on royalty income from software developed in the USVI and sold to non-US customers
• Availability of rental space at below market rates in the St. Croix and St. Thomas Industrial Parks

Qualifying Investors in the U.S. Virgin Islands also enjoy:

• A business-friendly environment
• An educated labor force
• US currency, courts and flag protection
• Easy air access to and from the United States, South America, Europe and other Caribbean Islands
• World-class telecommunications
• Made in USA labeling
• Duty free, quota free exporting of USVI made goods into the United States
• Immigration advantages
• Shipping advantages
• Availability of prime rental space

Visit http://www.usvieda.org/ for more information.