EDC Program

The U.S. Virgin Islands Economic Development Commission (EDC) offers unique tax advantages to businesses that operate within the U.S. Virgin Islands. The wide range of businesses that are eligible for benefits including financial services, investment managers and advisors, high-tech developers and manufacturers, business and management consultants, hotels, and various other service and manufacturing firms. As a part of the long-term plan to maintain a robust and diversified economy in the U.S. Virgin Islands, qualifying businesses receive benefits including:

  • up to 90{75f0df2d6e7f7161edac4c5c1d00f29fbd5b5b131330c7e7899506e898c5a87a} reduction in corporate and personal income tax;
  • 100{75f0df2d6e7f7161edac4c5c1d00f29fbd5b5b131330c7e7899506e898c5a87a} exemption on other taxes, including business property and gross receipt taxes;
  • U.S. currency, courts, and flag protection;
  • rental space at below market rates in sponsored industrial parks.

Attorneys at Kellerhals Ferguson Kroblin PLLC have been directly involved with the EDC Program and its governing agencies for over 30 years. Our core practice areas are devoted to assisting businesses both in qualifying for EDC incentives and in the details of relocating or expanding to the U.S. Virgin Islands. We offer decades of experience with the EDC regulatory process, local officials and regulators, and the U.S. Virgin Islands property and labor markets. Our tax practice, which is based both in the U.S. Virgin Islands and New York, is bolstered by years of input on the laws and regulations relevant to businesses and individuals involved in the EDC Program.

Our business services with respect to the EDC Program include:

  • Advising on the EDC application process and requirements and preparing applications for submission;
  • Comprehensive corporate transactional work provided on location in the U.S. Virgin Islands addressing our clients' needs with regard to various matters including but not limited to general contract and transactional, entity formation, equity agreements, stock and asset purchases, government contracts, and labor law;
  • Tax planning;
  • EDC compliance services ensuring qualified businesses continue to meet the EDC's ongoing reporting and documentation requirements.