Domestic profit corporation (stock corporation)U.S. Virgin Islands
What it takes to form, own and run a private limited company in U.S. Virgin Islands, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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three or more natural persons of lawful age may unite together by articles of incorporation to form a stock corporation
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a natural person of lawful age along with others form a Board of directors
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A domestic corporation pays income taxes on its worldwide income to the Virgin Islands, generally using Form 1120.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
- A notary
- Required
- A resident director
- Not in our records
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- Individuals only
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a natural person of lawful age along with others form a Board of directors
- Shareholders
- Not in our records
- Members
- At least 3
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three or more natural persons of lawful age may unite together by articles of incorporation to form a stock corporation
- A local company secretary
- Not in our records
- A local registered agent
- Required
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Executed and duly notarized resident agent form (All Business Entities).
Each year, at the registry
- Annual registry fee
- USD 300 (about €262)
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Franchise Taxes (Domestic, Professional, and Cooperative Corporations) $300.00 minimum
- Accounts on the public record
- No
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franchise tax and annual reports except financial statements which are confidential and proprietary information
- Audit for a small company
- Not in our records
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Annual report and franchise tax to the Division of Corporations and Trademarks
- 30 June
With Division of Corporations and Trademarks, Office of the Lieutenant Governor
Due by or before 30 June each year, per the registry's FAQ. The pages read give no late penalty amount and say nothing about weekend shifting.
What is public
- Directors
- Public
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Details include the registration date, entity type, status, purpose, addresses, resident agent, shareholders, and principals like officers, directors, members, managers, partners, sole proprietors.
- Shareholders
- Public
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Details include the registration date, entity type, status, purpose, addresses, resident agent, shareholders, and principals like officers, directors, members, managers, partners, sole proprietors.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Flat · 21%
A domestic corporation pays income tax on its worldwide income to the Virgin Islands, generally on Form 1120, under the Internal Revenue Code bracket (21 percent), plus a ten percent surcharge on the total liability (23.1 percent effective, as the booklet's example states).
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A domestic corporation pays income taxes on its worldwide income to the Virgin Islands, generally using Form 1120.
- CFC rules in VI
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Original certificate of dissolution filed with the Division of Corporations and Trademarks.
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Original Certificate of Dissolution $25.00
- Statutory fee
- USD 25 (about €22)
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Original Certificate of Dissolution $25.00
Every business in U.S. Virgin Islands
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for VI.
Payment and banking services
1 service names VI on its own list: Airwallex. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Domestic profit corporation (stock corporation)
- ISO 20275 code
- NNLMSecondary GLEIF, Entity Legal Forms code list