I've found some old posts but haven't found anything concrete if you can form an LLC in the USVI. I want to start a business and of course an LLC in the states provides a lot of protection. Is this possible in the USVI or just have to follow the business setup per dcla? How hard is this and how long? It will be a consulting type business out of our home.
Cannot help you on the LLC question but I can tell you working with DLCA is unbelievably slow.
We are attempting to open an office of our stateside business (Sub S corporation) in St Croix (we have to do it this way for insurance purposes) and it has taken almost 3 months for them to make a decision as to if there is another business with the same name in the USVI (there is NOT, never has been), so we can register as a "foreign corporation". You have to pass a police background check, a fire marshal check and show that you do not owe taxes to the USVI. Like how would a new business owe taxes?
This is with the help of a local attorney.
After that, we can apply for a Business License and that will have to be approved not only by DLCA but also the local Professional Board. Probably another few months. This is very frustrating when we have businesses on the island that want/need our services and are ready to issue us purchase orders. And the sad thing is there is no other local business that offers what we do.
So much for Gov Bryant's saying that they want the USVI to be business friendly and responsive for new businesses. (maybe it is quick and friendly if you grease the right palms with enough $$$). ☹️
Good luck on your efforts!!!!
I have seen quite a few properties listed as owned by an LLC so I would guess it is done here. Ask any attorney.?
Go to Lt. Governor's Office or call for information regarding registering as an LLC.
There are other options besides an LLC as well.
The Office of the Lt Governor handles trade names and corporation registrations, not DLCA (business licenses only). I've found the lt gov office to be quite helpful over the phone--give them a call if you're having delays.
It's not a complicated process to register an LLC with the Lt Gov's office. I just did it in June and it took less than a week to get the new LLC and trade name registered. Everything is online now and the process was easy compared to 3 years ago when I last registered an LLC and had to visit the office in person.
Setting up LLC is easy. Getting business license is another story. DLCA is not even slow. It works backwards. Greasing the right hands is the answer. Im sure there are „facilitators” in the community willing to take your money to advance the process.
With DLCA it maybe helpful to contact local senators office requesting intervention. welcome to VI.
It's actually the tax clearance letter that takes forever to get to DLCA before they can issue the license.
I've always found DLCA to be very helpful.