EDC Tax Benefits
If you own a business and are relocating to St Thomas you might be interested in taking advantage of the EDC tax benefit package.
A world-class tax benefit package is available for qualified businesses located in the U.S. Virgin Islands through the USVI Economic Development Commission or EDC. The USVI’s EDC tax benefit program is not only one of the most competitive tax benefits packages within the Caribbean, but across the globe. The US government as well as the Internal Revenue Service fully sanction the USVI EDC tax benefit program – a competitive offshore tax benefit program.
EDC beneficiaries relocating to the US Virgin Islands can enjoy discreet, executive-level assistance in their St Thomas luxury home search by contacting Barbara at barbara(at)seaglassproperties(dotted)com.
Below are some of the benefits your business can reap if eligible for the EDC program:
- 90% reduction in corporate income tax
- 90% reduction in personal income tax
- 100% exemption on gross receipt tax
- 100% exemption on business property tax
- 100% exemption on excise tax payments
- Reduction in the customs duty from the standard 6% to 1%
- Tax reduction on royalty income from software developed in the USVI and sold to non-US customers
- Availability of rental space at below market rates in the St. Thomas Industrial Park
To learn more, visit: https://www.usvieda.org/