EDC Eligibility

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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 and 937 of the Internal Revenue Code.
  • 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 VIEDC 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, Repair and Maintenance and/or Export Operations* including but not limited to
  • Agriculture/Mariculture and Food Processing
  • Marine and Aircraft Industry
  • Machine and Heavy Equipment
  • Bottling and Packing

Category III:

  • Hotel/Guesthouses
  • Health Care
  • Recreation and Retirement Facilities
  • Transportation
  • Utilities (including Alternative Energy Industry) and
  • Telecommunication.

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

  • Commercial Distribution and Trading Services;
  • Public Relations Services including but not
  • limited to publicity, mail order firms;
  • International Banking and Insurance entities 
  • Business and Management Consulting Services (including but not limited to strategic accounting, economic, scientific services);
  • Investment Managers and Advisors;
  • Call Centers;
  • Family Offices;
  • Venture Capital Management and Investment;
  • Investment Banking and Financial Services;
  • Film and Print Industry Activities (including news syndicate, still and motion pictures);
  • Computer, Data, High Technology, E-Commerce and Call Services Center Businesses;
  • Development/Engineering of Software, Blueprints, Intellectual Property;
  • Medical (including Dental, Optical and Ophthalmological) laboratories and specialty medical services; and
  • Any other businesses serving clients located outside the Virgin Islands deemed appropriate by the Commission.

Category V- International Financial Service Entity :

  • An applicant seeking benefits as a Category V international financial services entity are exempt from 29 V.I.C. § 708. Specific requirements for granting of benefits and its accompanying regulations, but shall comply with 9 V.I.C. §§ 727 and 738 and their accompanying regulations.