US Virgin Islands
The U.S. Virgin Islands, which are part of the broad chain of islands known as the Caribbean Islands, have much promise for entrepreneurship. The Virgin Islands is a conglomerate of 68 islands and cays with three islands considered the main islands. The main islands are St. Thomas, St, John and St. Croix. Together they attract over two million tourists annually.
Each of these islands has necessary features that make it attractive to investors and entrepreneurs alike. St Thomas offers a large airport, paved public roads and ferry transportation systems. St. Thomas is also home to the largest Freeport in the Caribbean, which allows a $1,200.00 duty free allowance. St. John doesn’t have it’s own airport, but ferry transportation service is available. St. Croix has its own airport and ferry transportation system. All three of the islands use the U.S. currency, have English as the primary language, and have U.S.P.S. for mail delivery, Internet access and a state of the art communication system.
There is still much to be discovered and nurtured in these vast, tropical islands. There are numerous features of the U.S. Virgin Islands that make them an attractive choice for investors and entrepreneurs. The U.S. Virgin Islands are an unincorporated territory of the United States, and therefore, are protected under the U.S. constitution and legal system. The Virgin Islands retain the right to taxation under the U.S. Internal Revenue Code as applicable to the Virgin Islands. 80% of GDP is based on tourism, though there are also petroleum refining, rum distilling, textiles, electronics, and watch assembly industries. Eco-tourism is growing in popularity and is a good choice for entrepreneurs.