Trade name registration (sole proprietor)U.S. Virgin Islands
What it takes to form, own and run a sole trader 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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every person (sole proprietor), copartnership or association of individuals shall file a trade name registration
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Individuals who are bona fide residents of the Virgin Islands file Form 1040 with
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
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the Trade name registration (sole proprietor).
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 1 · at most 1 · one person may form it alone
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every person (sole proprietor), copartnership or association of individuals shall file a trade name registration
- A local company secretary
- Does not apply
- A local registered agent
- Not stated
The registry’s and the law’s own pages do not mention it.
Each year, at the registry
- Annual registry fee
- Does not apply
- 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 stated
The registry’s and the law’s own pages do not mention it.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Trade name registration (sole proprietor) are in our records.
What is public
- 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
A sole proprietor is not a separate taxpayer: a resident individual files Form 1040 with the Virgin Islands on worldwide income and self-employed residents use Form 1040SS for self-employment income. The trade name registration itself adds no tax.
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Individuals who are bona fide residents of the Virgin Islands file Form 1040 with
- CFC rules in VI
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Cancellation of the trade name, filed with the Division of Corporations and Trademarks.
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Cancellation of Trade Names $25.00
- Statutory fee
- USD 25 (about €22)
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Cancellation of Trade Names $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
- Sole traderDerived our grouping, the same words in every country
- Name in law
- Trade name registration (sole proprietor)
- Identifier
- VI-TRADE-NAMEA form ISO 20275 does not list.