Tax Benefits – EDC Program
The US Virgin Islands Economic Development Program (EDC Program) provides qualified businesses and individuals with exceptional and comprehensive benefits and incentives that allow you to take control of your income taxes and significantly improve your profits.
Here’s the deal and yes, it is for real with over 100 companies and individuals already here enjoying the benefits and a list that keeps getting longer.
- 90% exemption on U.S. income tax (results in a top federal tax rate of 3.5%!)
- 100% exemption on 4% gross receipts tax
- 100% exemption on 0.75% real property tax
- 100% exemption on 4.2% excise tax
- 100% exemption on 7% US Customs import duty
- 1% VI Customs Duties instead of 6%
The US Virgin Islands EDC Program falls under the jurisdiction of the US Department of the Interior and is authorized jointly by the tax laws of the United States and the United States Virgin Islands. The US Virgin Islands EDC Program is a legitimate, economic development program purposefully designed to attract businesses and their owners to the US Virgin Islands. The US Virgin Islands EDC Program fosters diversification of the US Virgin Islands economy and produces significant, positive economic benefits to the US Virgin Islands community and its residents.
The US Virgin Islands also provide:
- A business-friendly environment
- An educated labor force
- US currency, courts and flag protection
- Easy air access to and from the United States, South America, Europe and other Caribbean islands
- World-class telecommunications
- Made in USA labeling
- Duty free, quota free exporting of USVI made goods into the United States
- Immigration advantages
- Shipping advantages
- Availability of prime rental space