BASIC REQUIREMENTS FOR BENEFITS

In order to receive benefits from the V.I. Economic Development Commission, an applicant must:

• Provide full-time employment for at least 10 residents of the U.S. Virgin Islands who have resided in the V.I. at least one year prior to being hired by the tax beneficiary.
• Invest at least $100,000, exclusive of inventory, in an industry or business that advances the economic well-being of the USVI.
• Meet the requirements of Section 934 of the Internal Revenue Code in the case of a USVI corporation, individual or partnership, or Section 936 of the U.S. Internal Revenue Code in terms of a V.I. Subsidiary of a U.S. Corporation.
• Be an actual investor in the enterprise for which industrial development benefits are sought, not a contractor, subcontractor or other person or corporation acting as an agent.
• Comply with all federal and local laws and regulations, including environmental laws.
• Provide an easement for free access to the beach or shoreline, if the applicant will be doing business on property that adjoins the shoreline.

General Information - Eligible Activities

Eligible activities generally fall within several categories, although the EDC has the authority to grant benefits to any business that will advance the economic well-being of the Virgin Islands and its people:

Category I:

• Rum Production
• Milk/Dairy Production
• Watch and Jewelry Manufacturing and Assembly

Category II:

• Product Assembly, Manufacturing (other than Jewelry and Watch Manufacturing and Assembly)
• Agriculture/Food Processing
• Mariculture/Food Processing
• Marine Industry
• Raw Materials Processing
• Hotels/Guesthouses
• Transportation and Telecommunications

Category IIA - Service Businesses, not limited to, but including:

• International Commercial Distribution and Trading Services.
• International Public Relations Services.
• Publicity firms.
• Economic, Scientific or Management Consulting Services.
• Public Auditing.
• Processing, Editing and Dubbing of Cinematographic Films.
• Commercial and Graphic Art Services.
• News Syndicates.
• Mail Order Firms.
• Assembly, Bottling and/or Export Packing Operations.
• Computer Service Centers.
• Maritime Vessels and Aircraft Repair and Maintenance Services.
• Machinery and Heavy Equipment Repair Services, including but not limited to Agriculture, Industrial, Construction, Mining and Transportation Equipment and Machinery.
• Electrical and Electronic Equipment and Watch Repair Services.
• The Production of Engineering and Architectural Blueprints and Plans to be used in the construction of projects to be located outside of the Virgin Islands.
• Photographic Laboratories, including Film Processing.
• Dental Laboratories.
• Optical and Ophthalmological Laboratories.
• Prefabricated Houses of any type of material.
• Investment Managers and Advisors.
• Research and Development.
• Business and Management Consultants.
• Software Developers.
• E-Commerce Businesses.
• Call Centers.
• High Tech Businesses.
• International Public Relations Firms.
• International Trading and Distribution.
• Any other businesses serving clients located outside the Virgin Islands.

Category III:

• Utilities
• Health Care Facilities
• Recreation Facilities