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Virgin Islands

Virgin Islands Flag

Country: Virgin Islands
Region: Americas
Currency: US dollar (USD) (US$)
Languages: English
Time Zone: UTC -4

Phone Code: +1340

Communications: OK

Formation Cost: 200 - 800 USD$
Formation Time: 10 - 18 days
Maintenance cost: 100 - 300 USD$

Executive Summary: The US Virgin Islands are situated in between the Caribbean Sea and the North Atlantic Ocean to the east of Puerto Rico. The population was estimated at just over 100,000 in July 2014, and English is spoken by three-quarters of the Virgin Islands’ inhabitants. With the constitutional status of an unincorporated territory of the United States, the legal system of the Virgin Islands is based on US common law. Tourism, trade, and other services are the primary economic activities, accounting for roughly 57% of GDP and about half of total civilian employment in 2010. In 2011, the islands hosted nearly 2.74m visitors, including 2.2m cruise ship and 536,000 air passengers. Industry and government each account for about one-fifth of GDP. The manufacturing sector consists of rum distilling, electronics, pharmaceuticals, and watch assembly. The agriculture sector is small, with most food being imported. Although the Virgin Islands are a byword for a tropical paradise, they are vulnerable to damage from hurricanes and tropical storms.

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Vehicle Types: Limited companies, public limited companies, sole proprietorships, branches, general partnerships, limited partnerships and limited liability partnerships

Capital primary business districts: Charlotte Amalie

Good Relationships: United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Light

Headline tax rates: CIT 35%, PIT 10%-35%, VAT 5%

Treaty Jurisdictions: None

TIEA Jurisdictions: United States

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