The Important Laws in the Virgin Islands

One of the more well-recognized federal laws that all Virgin Islands citizens and residents must follow is immigration. This law consists of a preference system that essentially prioritizes people with special skills, relatives of U.V.I citizens, and permanent residents.

Another common law applies to social security. This provides old age, workers, survivors, and disability patients insurance benefits for both them and their families. The benefits are paid to the individual or the family and it is usually determined according to their employment record and contributions to the country’s social security program.

Another worth mentioning law is related to taxes. As a U.V.I resident or citizen, you are obligated to report your income and file the relevant tax returns to the IRS. Additionally, all residents and this includes those on a temporary visa status, must pay local and state sales and wage taxes. In most cases, these are usually taken automatically through their employee paychecks.

How Do I Register a Company in the Virgin Islands?

If you are looking to form a Virgin Island based business or company, the articles of incorporation must be drafted and filed through the local online business platform, Catalyst. This platform is essentially what serves as the corporate registry on the U.S. Virgin Islands.

Users can utilize it to submit all forms and payments online, request business application forms, review returned forms, and receive reminders of pending dates for annual reports and license renewals.

Furthermore, people that plan to do business in the U.S. Virgin Islands must obtain and regularly renew a business license. To get a business license, you will need a completed business license application, which will need to be accompanied by an original letter of authorization for use of the registered agent’s address.

You will also require a copy of a qualification certificate that comes from the Office of the Lieutenant Governor, that proves the legal existence of the business that is situated in the USVI.

Besides, you will need a tax clearance letter from the local Bureau of Internal Revenue. Plus, you will need to bring copies of valid personal IDs (driver’s license or passport) for the relevant parties involved as listed on the application, a clearance certificate that commits as a zoning approval from the Department of Planning and Natural Resources, and a certificate that proves your business has passed an inspection from the Fire Department.

Once all necessary forms and payments have been made and presented, it may take about 6 to 8 weeks on average to officially obtain the license.

When Do I Need Virgin Islands Legal Forms?

Legal documents and forms for Virgin Island based businesses are essentially used to deter fraud and to ensure proper execution in any agreement or lawful transaction. As such, there are several kinds of legal forms used in the Virgin Islands.

But, they are all essentially designed to abide by the set rules and statutes defined by the constitution and can be produced as evidence in the event of any court trials or legal proceedings. These are also accepted as proofs in almost any legal proceedings or settings.

As such, all Virgin Islands legal forms must come with full authenticity and validity in the local judicial authorities. Some of the most common cases where you will need legal documents can be in cases that revolve around, such as marriage, business incorporation, and registration, real estate, contracts, etc.

It is usually the responsibility of the public to ensure that all parties have appeared and produced proper identification before signing any legal form or document.

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