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EDC Program Overview

programoverview

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.

As with many economic development programs, various tax incentives are used to attract, retain and expand businesses in the community. The US Virgin Islands EDC Program offers various tax incentives, including:

  • 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 enormous 90% U.S. income tax exemption available to you through the US Virgin Islands EDC Program at first sounds too good to be true, but it is true and should be explored by every business owner!"

- Theodore C. "Teddy" Skokos, Jr., Esq., LLM - USVI EDC Beneficiary

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


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For additional information about Clearwater Consulting Concepts services, call (340) 775-2888 or allow us to contact you by completing our web form.