living in usvi and working in bvi
Does anyone live in usvi and work in bvi? My boss and I are starting a company on the British islands, but I don't want my family to live as expats. Any local knowledge of the income tax situation for this particular set up? What should I know about working in bvi and living in the usvi? Thank you!
As long as you have a work permit in the BVI coming and going a few times a week to visit your USVI family is an option - maintaining an apt. in the BVI and a home in STT or STJ and the ferry costs will get expensive and likely you will have high tuition costs if the children are school age so it will have to be an extra good paying job you are creating.
Living in the BVI really isn't such a different stretch and it could be a wonderful time for the family. There is a sizable non BVI belonger community.
http://bvinewbie.com/ If you have not come across this site I highly recommend reading the whole thing asap.
Finding a place to keep your boat in STJ will be an interesting search as well as a dinghy to come and go to it - it is not like there are marinas and dockage available. You will also have to clear into the BVI at C&I each day and back into the USVI each day - look into a Local Boaters Option and Passport Card to make the USVI side easier. If you have any passengers aboard things increase exponentially.
Running your own vessel will closely approach the ferry cost in maintenance C&I fees, fuel, daily dockage in the BVI and it is often a wet rough ride even in a good 35' ocean deep V hull - you will have to stop in West End or Roadtown and likely start from the South side of STJ somewhere.
Did you get a chance to read any of this site?? This is the education section.
Unless you have time to kill (getting back and forth in all kinds of weather and clearing your boat in and out and back in daily), and lots of $$$$$$$, this is not a good idea. BVI has some good schools and lots of ex-pats from all over that do business there so living there if your business is located in the BVI would make much more sense, be cost and time effective. You still have to abide rules there and I believe if a US citizen you must leave the BVI for 24 hrs. (?) min. every 3 months and then clear back in to BVI to be in accordance.
The commuting costs is one of the biggies for me.
I would think air commuting would be even more costly than a daily ferry ride - no airport on STJ and I would also think it would be tough to find a helicopter pad legally. STT has a good sized airport - C&I requirements still apply but probably less traffic at Beef Is.and STT.
All the islands that are easily accessible from the BVI are pretty much just as easy to access from STT or STJ.
The main reason to locate in the BVI is usually tax related.
The Anegada Passage is the major impediment to getting down island on a vessel -private aircraft would be just as easy from STT and commercial air connections much easier from STT.