Limited partnership and limited liability limited partnership domesticU.S. Virgin Islands
What it takes to form, own and run a limited partnership 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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a partnership formed by two or more persons under the laws of the Virgin Islands and having one or more general partners and one or more limited partners.
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Virgin Islands partnerships and foreign partnerships with Virgin Islands income file their Form 1065
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
- Does not apply
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
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a partnership formed by two or more persons under the laws of the Virgin Islands and having one or more general partners and one or more limited partners.
- A local company secretary
- Does not apply
- A local registered agent
- Required
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The resident agent form is required for business entities, but it is not required for all trade names.
Each year, at the registry
- Annual registry fee
- USD 150 (about €131)
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Annual Report Fee $150.00
- 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 annual fee 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, which names limited partnerships and limited liability limited partnerships. No late penalty amount stated on the pages read.
- Form 1065, U
- Not in our records
With V.I. Bureau of Internal Revenue
Not stated on bir.vi.gov/content/booklets/tax_structure.pdf when checked
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.
Through owners
Virgin Islands partnerships file Form 1065 with the BIR; each member reports his or her share of the partnership income.
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Virgin Islands partnerships and foreign partnerships with Virgin Islands income file their Form 1065
- CFC rules in VI
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Cancellation of certificate (LP) or cancellation of statement of qualification (LLLP), filed with the Division of Corporations and Trademarks.
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Cancellation of Certificate $150.00
- Statutory fee
- USD 150 (about €131)
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Cancellation of Certificate $150.00
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
- Limited partnershipDerived our grouping, the same words in every country
- Name in law
- Limited partnership and limited liability limited partnership (domestic)
- ISO 20275 code
- MGUMSecondary GLEIF, Entity Legal Forms code list