Page 83 - FDI Alliance International Magazine, July 2019 Interactive Issue_Neat

St. John, you will discover unparalleled beauty impressive vessels at the event, which featured the Our competitive program has been approved by
and serenity. We are truly the delight of nature. largest yacht turnout in 10 years. College sports fans the federal government. Tax incentives include a
were also recently given a treat when multiple NCAA 90% reduction in federal corporate income taxes,
Flights are increasing and many in-bound planes are Division I teams faced off at the annual Paradise a 90% reduction in personal income taxes, a 100%
full. The commercial airports were awarded multi- Jam basketball tournament at the University of the reduction in property taxes, a 100% reduction in
million dollar improvement grants from the U.S. Virgin Islands. Despite experiencing a downturn excise taxes, a 100% reduction in gross receipts
Department of Commerce Economic Development immediately following the hurricanes last year, taxes, and a deep discount on customs duties. Couple
Administration with expected renovations to enhance tourism is making a comeback and rebounding well. these benefits with no sales tax and no territorial
our future travelers’ airport experience. Cruises are income tax, and you have a compelling rationale to
returning and it is common to see multiple enormous Business establish a corporate presence in our Territory and
ships in St. Thomas’ Charlotte Amalie harbor, which sow resources into the local community.
is one of the best in the Caribbean. As one of the While visiting our famous islands, consider the
top cruise ship destinations in the Caribbean for benefits of utilizing us as a platform for growing
years, the U.S Virgin Islands is a “must-visit” location your business. Regardless of whether you are a
in 2019. Experience friendly people, fine dining, hedge fund, family office, manufacturer, investor,
and fun times morning, noon, and night! hotelier, tech company, energy or financial services
operation, we might be your ideal location. Qualified
A successful charter yacht show was recently businesses committed to local economic development
held, which resulted in over 60 yachts lined-up in can access robust tax incentives and be better
an upscale marina in St. Thomas. Charter brokers positioned to maximize profitability.
and visitors from around the world checked-out the

Contact Us

To learn about expanding your business to the
Territory and applying for tax incentives:
Kamal I. Latham
Chief Executive Officer
U.S. Virgin Islands
Economic Development Authority
340-714-1700
Email: klatham@usvieda.org
Website: www.usvieda.org

FDI ALLIANCE | JULY ISSUE 2019 83