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Tax Haven



Many people think of the US Virgin Islands as an ideal tax haven. Being a territory of the USA, unlike other Caribbean islands, the USVI has the protection of the US flag. The tax laws of the USVI are a "mirror" of the US IRS, with a few exceptions. Taxes are paid to the USVI Bureau of Internal Revenue, not the US IRS.

Persons born, naturalized or permanent residents of the USVI do not have inheritance taxes levied by the USVI. This means that if a person's country of birth does not levy inheritance taxes, that person can legally avoid all inheritance taxes, for example a non domiciled British person with a green card living in the USVI.

In common with a number of Caribbean islands, the USVI has an Economic Development Authority which oversees corporations set up to further economic growth in the region. Advantages include:

* 90% Tax exemption on local Income Taxes
* 90% Tax exemption on Dividends
* 100% Tax exemption on Gross Receipts Tax
* 100% Tax exemption on Property Taxes
* etc.

For more information see  
www.usvieda.org/edc/edc_index.asp  
Copyright 2007 Lynda Hartmann. All rights reserved. E&OE