Do you have a great business idea and need to get started or are you looking for help to grow and expand your business? The Virgin Islands Economic Development Authority has resources to develop entrepreneurs across various industries and stages of business with access to information and financing. For existing businesses, we offer attractive financing options and business development support to help make your business a continued success.
Qualified businesses are eligible for unique tax incentives including a reduction of up to 90% of personal and corporate income taxes and up to a 100% exemption on excise, business property, and gross receipt taxes.
The University of the Virgin Islands' Small Business Development Center can also help to provide training and other resources to develop and grow your business.
To get started:
- Create a business plan
- Register your trade name and/or corporation with the Office of the Lieutenant Governor
- Select a good location and obtain a copy of an unsigned lease or letter of intent from the owner
- Obtain a business license from the V.I. Department of Licensing and Consumer Affairs (DLCA)