Island Analytics & Marketing, LLC. 209a St Thomas, VI 00802-2213. An LLC on the other hand is a more modern entity with more flexibility in corporate governance. There must be a minimum of one director for every shareholder of the corporation if there are three or fewer shareholders; otherwise the minimum number of directors is three. This brief will provide basic information on the two most popular entities, the corporation and LLC. Get further information about forming Virgin Islands Corporations, corporate law and Registered Agent Services. If you have questions or … The territory operates as a parliamentary democracy. Domestic corporations may qualify for significant tax incentives under the Economic Development Commission’s tax incentive scheme. US Virgin Islands, Makeup By Sunshine LLC is an on location makeup company providing artistry and airbrush services for multi media bridal. Virgin Islands Occupational Therapy Llc's practice location is: 9149 Sugar Estate Ste. To the east is St. John Island, most of which comprises Virgin Islands National Park. A corporation might be selected because of the well-developed corporate law under which it operates or where there is a desire for a traditional corporate entity with stock certificates and with directors and officers who have well defined roles. The company's filing status is listed as Active and its File Number is L20000148140. Virgin Islands Exquisite Eats LLC is a Florida Domestic Limited-Liability Company filed on May 31, 2020. Basic information regarding registered businesses in Virgin Island can be accessed on the DLCA website for free. I know, because over the years, I think I've taken all the classes, seminars, and read all the books you've had, including going to yearly up dates in Las Vegas.This is concise and to the point. Despite the fact that the owner of the Subchapter S still must file a separate tax return with the Virgin Islands Bureau of Internal Revenue for informational purposes, the entity itself is not subject to tax liability, making the Subchapter S corporation a viable choice for a small-business entity. Trust Formation Beaches, Turtles and Rays! In the absence of an election, the members are taxed on the LLC’s profits; however if an election is filed, then the LLC itself is liable for any tax on its profits. Also, unless a company member is exempt from income taxes, its distributive share of membership income and loss is treated the same to the member and reported on the tax return, regardless of whether or not the member received the income. The report and payment is due on June 30 of each year. U.S. Virgin Islands LLCs are not required to pay corporate taxes under the U.S. Internal Revenue “mirror code.” The one exception to this rule is if the corporation decides to be considered, for federal and state tax reasons, as a regular corporation. We still have select openings on sailing this weeks on our Full Day Sailing Experience and on our Sunset Sailings. Directors and Officers US Virgin Islands Limited Liability Company (LLC) Located on the Caribbean, the U.S. Virgin Islands are a U.S. Virgin Islands Limited Liability Company / LLC: Order Online! The annual report fee is equal to 0.15% of the capital used by the LLC in conducting business during the prior calendar year, with a minimum fee of $300. A U.S. Virgin Islands LLC is required to have at least one shareholder. Through its licensed trust company in the U.S. Virgin Islands, Arbor offers trustee services. The USVI has a separate income tax regime from the United States and its taxes are administered by the local USVI Bureau of Internal Revenue and not by the federal IRS. No income tax returns are required so long as the exempt company does not have U.S. or USVI source income. Call us! If consultants are busy, please call again. The “mirror code” can be defined as the U.S. Internal Revenue Service’s code ensuring that taxes are paid to the U.S. Virgin Islands instead of the U.S. government. A U.S. Virgin Islands LLC must pick a unique name that is not similar to already existing corporation or company names. We offer a wide range of insurance coverages including Business and Personal policies. Annual Fees The report must include the names of any managers, but does not name the members (owners). Corporate reporting obligations for corporations include filing an annual report containing basic information, including the identities of officers and directors (but not shareholders), and an annual franchise tax return with attached simplified financial statements. PO Box 600118, St Thomas, US Virgin Islands, US Virgin Islands,00802 Mr. Leon A. Plaskett, the principal of Leon\'s Management Services, LLC has been providing marine consulting services for over 28 years from Australia to Caribbean. There are three types of corporations which may be formed in the U.S. Virgin Islands: Domestic Corporations Domestic corporations are corporations whose business operations are based in the U.S. Virgin Islands. Based in the United States Virgin Islands. Mr. Blum has written articles for CCH, BNA and Euromoney on tax issues in the U.S. as well as the USVI, and he drafted numerous USVI regulations and statutes that relate to tax exemptions, including the USVI exempt company law. Public Records If the exempt company is owned 90% or more by non-U.S., non-USVI persons, then it is eligible for tax free treatment on all of its income except any such income from U.S. or USVI sources. CC One Virgin Islands, LLC, a member of CC1 Companies, is the official distributor of Coca-Cola sparkling and still brands in the USVI, BVI and Grand Cayman. It will also briefly describe the USVI tax exempt company and the exemption of USVI companies from international reporting requirements. They offer several advantages for maintaining business continuity with the … A USVI corporation is formed by three incorporators who elect the corporation’s directors. An LLC must file an annual report every June 30 which contains basic information about the company and which must be accompanied by an annual fee. The islands are part of the archipelago of the Virgin Islands, the other islands being part of the United States Virgin Islands and the Spanish Virgin Islands belonging to Puerto Rico. Asset Protection from Lawsuits Taxes A U.S. Virgin Islands LLC must have a local registered agent and a local office address. The initial members and managers are also named in the operating agreement. U.S. Virgin Islands LLCs are required to file yearly tax returns. Taste Of The Virgin Islands, LLC is a Texas Domestic Limited-Liability Company (Llc) filed on August 11, 2020. Ultimate executive authority in The British Virgin Islands is vested in the Queen and is exercised on her behalf by the Governor of the British Virgin Islands. Starting a business in the U.S. Virgin Islands isn’t all that different from starting one in the continental United States. Data Collection & Gathering Analytics & Research Media & … As a result, the USVI is not included under any U.S. tax treaties or Tax Exchange of Information Agreements (TIEAs) with other countries and it has no such treaties or agreements of its own. As long as you complete start-up steps in the right order and allow plenty of time, getting a business license is a relatively straightforward process. At VIGI, we are committed to providing the highest standard of care to residents and visitors of the Virgin Islands. Company Name Nominee directors are permitted. A USVI corporation is also required to have three officers: a president (who must be a director), a secretary (who must not be the same person as the president), and a treasurer. Solomon Blum Heymann LLP, and its affiliated corporate services provider, Arbor International Services Ltd., specialize in creating and administering offshore and domestic structures for foreign individuals and companies, as well as U.S. citizens. 7 were here. Come spend a day on the water! Check us out at www.vidaysailing.com or call 340 643 4388 for … Office Address and Local Agent British Virgin Islands company law is primarily codified in the BVI Business Companies Act, 2004, and to a lesser extent by the Insolvency Act, 2003 and the Securities and Investment Business Act, 2010.The British Virgin Islands has approximately 30 registered companies per head of population, which is probably the highest ratio of any country in the world. Accounting and Audit Requirements This is without doubt the best course you've put out. Arbor International Services Limited (“Arbor”), a British Virgin Islands company, provides company fiduciary, regulatory and tax compliance services in the British Virgin Islands, Cayman Islands, Nevis, U.S. Virgin Islands, Delaware and a number of other U.S. and international jurisdictions. Time Required for Incorporation Likewise, neither the United States nor the USVI have adopted the Common Reporting Standards (CRS) of the OECD and therefore no reporting of accounts or beneficial ownership of companies is required in that context either. We are steadfast in delivering outstanding results through customized insurance and risk-management solutions. The Organic Act of 1936 allowed for the creation of a senate. A U.S. Virgin Islands LLC is required to have two directors, or managers. Search or browse our list of Construction companies in Virgin Islands by category or location. The U.S. Virgin Islands offers a number of different limited liability entities including the corporation, the limited liability company (LLC), the limited liability partnership (LLP), and the limited liability limited partnership (LLLP). Offshore Company Formation Corporations in the USVI are based on the standard Delaware model. St. Croix Island and its historic towns, Frederiksted and Christiansted are to the south. U.S. Virgin Islands LLC’s are regulated by the Limited Liability Company Act. Ask questions about offshore banking, company formation, asset protection and related topics. To own a property in the Virgin Islands, one of the most beautiful places on Earth, is an achievement that most people can only dream about. The name of an LLC must include the words “limited company” or “limited liability company” (abbreviating the word “company” to “co.” or the word “limited” to “ltd.” is acceptable) or the abbreviation “LLC”, “L.L.C”, “LC.” or “L.C.”. William L. Blum, Esq., is a New York and U.S. Virgin Islands-based tax and business lawyer with particular expertise in international taxation. Address:Pasea Estate Road Town Tortola Virgin Islands(US) Econo-munity with Worldwide Interests, LLC U.S. Virgin Islands LLCs can purchase shelf companies for faster registration. (888) 88-MYLLC. Therefore, a USVI LLC is very similar to those formed in other U.S. jurisdictions such as Delaware or Nevada. U.S. Company Formation Shareholders The largest are Tortola, Virgin Gorda, Anegada and Jost Van Dyke. U.S. Virgin Islands LLC Basics. This completion time depends on the turnaround with the LLC name registration, as well as how accurately the company completes its registration documents. DLCA Website | Help © 2021 Virgin Islands Department of Licensing and Consumer Affairs The minimum capitalization for a USVI corporation is $1,000 and a “standard” capitalization for a closely held corporation is 1,000 shares of no par value stock, both authorized and issued, with a stated value of $1.00 per share. Offshore Banking Either a USVI corporation or a USVI LLC may elect to be treated as a USVI exempt company by including a statement to that effect in its articles. As a result, a US Virgin Islands LLC shares many similarities with limited liability companies formed in U.S. jurisdictions such as Delaware or Nevada. Services. However, obtaining a mortgage in the Virgin Islands can be quite challenging. The company's filing status is listed as In Existence and its File Number is 0803719534. Shelf Companies • Low Minimum Authorized Capital: The minimum authorized capital for corporations in the US Virgin Islands is only $1000 USD. In addition, The IRS can exempt a U.S. Virgin Islands LLC under Section 501(c)(3). For U.S. Virgin Islands LLCs, meetings for managers or members are optional. Call Now 24 Hrs./Day • One Shareholder: Only one shareholder is required to form a LLC. Island Designs Landscape and Storm Water Management works with resort properties evaluating property vulnerabilities, preparing for hurricanes, and designing sustainable landscapes ensuring your property is ready. Beneficial ownership of exempt companies is not required to be made public. Its capital is Charlotte Amalie on St. Thomas Island. Private persons and corporate bodies can both act as directors. The islands are administered in two groups—the British Virgin Islands and the United States Virgin Islands.The former is a British colony consisting of four larger islands—Tortola, Anegada, Virgin Gorda, and Jost Van Dyke—and 32 smaller islands and islets, of which more than 20 are uninhabited. Arbor provides services to clients in the British Virgin Islands, Cayman Islands, Nevis and other jurisdictions through qualified service providers established and licensed in the relevant jurisdictions. Best Dining in U.S. Virgin Islands, Caribbean: See 91,348 Tripadvisor traveler reviews of 470 U.S. Virgin Islands restaurants and search by cuisine, price, location, and more. The Registered Agent on file for this company is Warner Edvina Tamikqua and is located at 793 Spofforth Rd, El Paso, TX 79928. It also has the advantage of being permitted to be operated by a corporate manager, thus eliminating the need for any individuals to take direct roles in representing or operating the company. The reports must be accompanied by payment of the annual franchise tax and are due June 30 of each year. Annual General Meeting Corporations in the U.S. Virgin Islands are based on the standard Delaware model. • No Required Meetings: Meetings of managers and members in the U.S. Virgin Islands is optional. What a class!!! There are no specified recording requirements imposed on U.S. Virgin Islands LLCs by the Virgin Islands Limited Liability Company Act. Its capital is Charlotte Amalie on St. Thomas Island. They are largely designed to guard against inurement (giving inordinate proceeds insiders) and private benefit. Managers may be individuals or entities, including nominee managers. Territory consisting of a group of islands and islets. Address:123 blvd chicago jamaica 1 Virgin Islands(US) Proximity MFG powder, polypropylene, scrap. The exempt company may take the form of a corporation or an LLC. Currently, DLCA hosts information on following types of entities: U.S. Virgin Islands LLCs can expect the entire process to take about one week to one month. Address:1730 w. 38th place Hialeah Virgin Islands(US) CH Non-Food Import Export Corp Power Plant, Generators, Turbine, Steam Turbines. Territory consisting of a group of islands and islets. Makeup By Sunshine LLC. There is an exception, however, for an LLC that elects treatment as an exempt company, since exempt companies are generally not subject to tax and have no tax return filing requirement. Their total area is 59 square miles, and they lie to the north and east of the U.S. islands. In 1927, citizenship was granted to Virgin Islanders. The islands had a population of about 28,000 at the 2010 Census, of whom approximately 23,500 lived on Tortola. InCorp is the low-cost cutting edge leader in forming your new Virgin Islands Corporation, Virgin Islands Limited-Liability Company (LLC), or any other type of business entity in all 50 states AND D.C.! A U.S. Virgin Islands LLC annual renewal fee is $300 USD. The United States purchased the islands from Denmark for $25 million in 1917. Their principals are attorneys with decades of experience in the USVI and other popular domestic and offshore jurisdictions including Delaware, the Cayman, Islands, and the British Virgin Islands. Similarly, FATCA (the federal Foreign Account Tax Compliance Act) does not apply to USVI companies or financial institutions so the automatic reporting to foreign governments required under FATCA does not apply to USVI companies or accounts. Both private persons and corporate bodies can perform the duties of shareholders. St. Croix Island and its historic towns, Frederiksted and Christiansted are to the south. Typically the members will enter into an operating agreement with the company which sets forth in detail all of the regulations by which the company is to be governed. A dedication delighting our customers, to accurate document filings, to timely service for those items within our control, and serving the best interest of our treasured clients. Caribbean Risk Group is committed to providing clients the highest level of service, experience and knowledge. Get further information about US Virgin Islands LLCs, corporate law and Registered Agent Services. USVI is a United States territory. While there is no public record keeping expected of U.S. Virgin Islands LLCs, companies are expected to allow access to records they do keep. About Us . An exempt company must file a simplified annual report and pay a flat annual franchise tax of $1,000. Authorized Capital Makeup also offers courses in makeup, HD seasonal bootcamps. Corporations are required to hold meetings of shareholders at least annually. A standard set of documentation for a USVI corporation is articles of incorporation (these are filed with the government to form the company and are subject to public inspection), by-laws, and minutes or resolutions of the incorporators and board of directors. Find out if a company registered in the Virgin Islands is also registered in other states. Where there are two or more shareholders, there may often also be a shareholder’s agreement. In 1672, the Danish established the first settlement on St. Thomas and then in 1694 St. John was added. An LLC may file an election to be treated as a corporation for tax purposes. In 1733, The Danish West India Company added St. Croix. MyLLC will work with you hand-in-hand to help you form your new corporation or Limited Liability company. Meetings of managers and meetings of members are optional. InCorp prices starting at $99 plus applicable state fees. There are various types of business entities to choose which include Trade Name, Corporation (Domestic, Foreign, Non-profit, Foreign Non-profit, Professional, Foreign Professional, Trade and Labor, Foreign Trade and Labor, Cooperative, Foreign Cooperative, Exempt, Foreign Exempt, Economic Development, Virgin Islands Foreign Sales, and Alien), Limited Partnership, Limited Liability … In addition, both the corporation and the LLC may be formed as “exempt companies” which are not subject to tax in the USVI if they meet certain ownership and income source conditions. There are tremendous financial incentives allowed by the US government in the USVI, including a tax reduction of up to 90%. St. Thomas, Virgin Islands. His practice emphasizes domestic and offshore tax matters and structures, as well as estate and asset protection planning.  He served as counsel to the Governor of the U.S. Virgin Islands, and is the leading expert on the USVI’s status as a tax haven for non-U.S. persons. This address will be used for process service requests and official notices. If the corporation is an exempt company, only one report is required and financial statements are not required. U.S. Virgin Islands LLCs must file annual reports and also pay the annual report fee by June 30th of each year. U.S. Virgin Islands limited liability companies are governed by the United States’ Uniform Limited Liability Company Act of 1998. Arbor focuses its services on multi-jurisdictional trust and company management, and tax compliance, including assisting clients with the requirements of FATCA and the CRS. An LLC is formed by a single organizer who is required to file Articles of Organization with the government. A USVI exempt company may not conduct business in the USVI, although it may do so elsewhere. Other, Your information remains confidential Privacy Policy. In the Virgin Islands, Department of Licensing and Consumer Affairs (DLCA) is the supreme body which is responsible for business formation, regulation and record keeping of the registered businesses. FATCA (the federal Foreign Account Tax Compliance Act). In fact, the USVI corporation law is based on a prior version of the Delaware corporate law. The archipelago is made up of about forty islands, of which eleven are inhabited. Join us for an exciting day of sailing and snorkeling in paradise. Jul 18, 2019 - Virgin Islands Limited Liability Company / Virgin Islands LLC formation services: St. Thomas, VI 00802. Virgin Islands Occupational Therapy Llc is a health care organization in St Thomas with Occupational Therapist listed as their primary medical specialization. Vivot Industries Virgin Islands LLC is located in Christiansted, VI, United States and is part of the Commercial & Industrial Equipment Rental & Leasing Industry. Form a Limited Liability Company (LLC) in the US Virgin Islands. An annual income tax return needs to be filed by a USVI corporation with the USVI Bureau of Internal Revenue; however, this requirement generally does not apply to corporations which elect to be treated as USVI exempt companies. Company formation in the US Virgin Islands (USVI) can give rise to multiple tax and business benefits. Vivot Industries Virgin Islands LLC has 1 total employees across all of its locations and generates $40,855 in sales (USD). Their LLC’s law was created using laws from two states: Kentucky and Tennessee. Incorporate in Virgin Islands. Who we are: Virgin Islands Services is an all-inclusive service provider that proudly offers the highest quality and most competitively priced services available anywhere on the Virgin Islands. We’ve selected only the most well-trained and qualified experts in each field to ensure all services are delivered with speed, integrity, and professionalism. A U.S. Virgin Islands LLC receives many benefits including: • Tax Advantages: There are many tax advantages available in the US Virgin Islands, which are sanctioned by the U.S. government. Optionally, an LLC may appoint officers who may have roles in operating the company. VIGI, LLC World Class Care Begins Here. Since 1906. For non-U.S. persons seeking an offshore holding entity that has a 100% tax exemption, and that is not subject to reporting to foreign governments, a USVI exempt company is a good option. 243 Construction Companies in Virgin Islands. The HOVENSA facility ("the facility") is located at Limetree Bay, St. Croix, U.S. Virgin Islands. The U.S. Virgin Islands offers a number of different limited liability entities including the corporation, the limited liability company (LLC), the limited liability partnership (LLP), and the limited liability limited partnership (LLLP). A U.S. Virgin Islands LLC is required to have a minimum authorized capital of $1,000 USD. Dom… Sustainable landscape design and storm water management. It also offers Delaware formation and registered agent services through its Delaware company, Arbor Delaware Services LLC. The was established 2002 has been growing steadily. 1-800-959-8819. The USVI adopted the Uniform Limited Liability Company Act in 1998. An LLC may be governed either by its members (one or more individuals who own the LLC) or by one or more managers appointed by the members. Still, the company is expected to allow access to records it does keep. MyLLC will work with you hand-in-hand to help you form your new corporation or limited liability company (LLC). Located on the Caribbean, the U.S. Virgin Islands are a U.S. It needs to elects to be treated as a separate legal entity for tax purposes. Plus, its operating agreement includes the required language while also meeting several requirements. It is a petroleum refinery covering 1,500 acres in what is known as South Industrial Complex, on the south central coast of St. Croix. (888) 88-MYLLC. Virgin Islands based research data and market data analytics company. In 1970, the U.S. Virgin Islands elected its first governor, Melvin H. Evans. The impact of these requirements is that at least two individuals must serve as corporate officers and directors even where there is only one shareholder; a typical pattern is for one person (often the shareholder) to serve as director, president, and treasurer, with a second person serving as secretary. VIGI, LLC is a Gastroenterology Physician practice. Most LLCs are operated by managers. Incorp will beat the price of any competitor on VI LLCs! If a U.S. Virgin Islands LLC has only one owner, then the owner is considered the same as the entity he or she owns for tax reasons. On staff, we have three board-certified gastroenterologists who evaluate and treat conditions of the stomach, intestines and liver. Home IAM Services About IAM Contact AN ACCURATE INSIGHT OF THE U.S. VIRGIN ISLANDS. The Registered Agent on file for this company is Hendrickson Cherisse E and is located at 3966 Prairie Reserve Blvd, Orlando, FL 32824. National Corporation Directory Multi-State Search (nationwide search of all 50 official Secretary of State databases, $25 fee for unlimited searches for one day) Find more info on a Virgin Islands company Use public corporation web search tools. Tax Preparation All directors must be individuals and they may reside anywhere. A U.S. Virgin Islands LLC receives many benefits including: several tax advantages sanctioned by the IRS, only one shareholder required to form a LLC, low minimum authorized capital, no required meetings, and low annual renewal fees. 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