Offshore Corporation in the Virgin Islands

Background

The Virgin Islands are located east of Puerto Rico between the North Atlantic and Caribbean Sea. The islands where first divided into an English and Danish territories. In 1917, the US bought the Danish portion of the Islands. The islands are about twice the size of Washington DC. The temperature is subtropical with little seasonal temperature variation. The Virgin Islands are an unincorporated area of the US. International Business Companies and financial services are a growing part of the economy.

Establishing a Virgin Islands Corporation

The corporation is formed by filing the articles of incorporation at the office of the Lieutenant Governor of the Virgin Islands. There are several types of company formation such as: foreign sales corporation, domestic corporation, and an exempt company. A corporation is required to have three different directors that must be individuals.