Virgin Islands Law Blog

Virgin Islands Law Blog

U.S. Virgin Islands law & politics

Category Archives: Corporate & Financial Services

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Audit Prevention: Preparing Your Business Taxes as Effectively as Possible

Posted in Corporate & Financial Services, Tax & Estate Planning
Tax season is officially here, and individuals ranging from small business owners to top executives at the largest corporations are thinking about business taxes. It might not be the time of the year you mark on your calendar with a big smiley face—but it’s important nonetheless. How you are feeling about upcoming tax deadlines may… Continue Reading

The Dos and Don’ts of Managing Corporate Formalities

Posted in Corporate & Financial Services
When you go into business, you probably don’t do so for the fun and excitement of dealing with corporate formalities. However, these formalities are perhaps the key elements in protecting the shareholders and particularly the representatives of a corporation. By clearly formalizing the corporation’s proceedings and separating the activities of individual representatives from those of… Continue Reading

E-Commerce: Know the Legal Way to Sell Products Online

Posted in Corporate & Financial Services, International, Tax & Estate Planning
With so much business either originating online or migrating there from brick-and-mortar establishments, the possibility of conducting transactions via the Internet is opening up a whole new world for entrepreneurs and business owners on a global scale. Whether you’re selling products or services, having the ability to sell your goods online makes it possible to… Continue Reading

US Copyright Office Sets Strategic Plan Through 2020

Posted in Corporate & Financial Services
As changes take place in the intellectual property landscape due to advances in technology and other factors, the U.S. Copyright Office must periodically revise its approach to protecting creative works. Recently, the agency outlined a strategic plan designed to bring the office into the 21st century, both in terms of its ability to protect intellectual… Continue Reading

Should You Sell Shares for More Operating Capital?

Posted in Corporate & Financial Services
Operating capital is absolutely essential for your company’s ability to do business on a day-to-day basis. No business can survive without sufficient cash on hand, and a lack of operating capital is one of the most surefire factors likely to contribute to a business’ failure. Fortunately, there’s a relatively easy way to increase your operating… Continue Reading

Is It Time to Seek Venture Capital Funding for Your Startup?

Posted in Corporate & Financial Services
Many entrepreneurs have been there: they have an idea for a business they think could be wildly successful, but they don’t have the financial means to transform the idea into a functioning company. Not surprisingly, this is a frustrating situation—and has likely been the premature undoing of many potentially profitable startups in the U.S. Virgin… Continue Reading

Understanding Commercial Mortgages

Posted in Corporate & Financial Services
For small businesses that are in the market to expand or to take up more permanent residency in a community, purchasing commercial property can be an effective and prudent option. But because most small businesses don’t have the cash on hand to purchase property outright, they need another means of funding the purchase. This is… Continue Reading

Tips for the Successful Launch of a Franchise System

Posted in Corporate & Financial Services, International
Do you have a successful business such as a restaurant, boutique hotel, or watersports company that you have built into a replicable format?  If you want to leverage your existing supply relationships, marketing methods, loyal management team, and cost structures to jumpstart new locations, then franchising might be right for you. What does it take… Continue Reading

Are Tax Rates Pushing the American Dream Offshore?

Posted in Corporate & Financial Services
While its definition is malleable and open for debate, the “American Dream” remains a standard by which many people gauge perceived success and failure in various segments of our society—even in U.S. territories. The business world is no exception, as successful entrepreneurship and business management are regarded as prime drivers of upward mobility, economic progress… Continue Reading

Perfecting a Security Interest in an Airplane

Posted in Corporate & Financial Services
When it comes to leasing and financing civil aircraft, it’s incredibly important to understand the various liens and interests potentially involved, based largely on Federal Aviation Administration Aircraft Registry Reports. These reports have been mandated on airplanes so that individuals can somewhat easily find all of the possible claims and other legal interests attached to… Continue Reading

End of Safe Harbor Will Pose Challenges to US Businesses

Posted in Corporate & Financial Services, International
The legal agreement that enabled the exchange of European citizens’ personal data between European and U.S. firms is no more. In an October 6 ruling, the European Court of Justice declared the Safe Harbor agreement invalid, charging that data protection processes in place at companies like Facebook is insufficient and fails to meet the standards… Continue Reading

U.S. Virgin Islands: The Perfect Port of Call For Film and Television Production

Posted in Corporate & Financial Services, International
The U.S. Virgin Islands is well-known as a breathtaking vacation destination and a corporate tax haven.  It is less well-known, but equally attractive as a destination for film and television production. As far as tropical shooting locations, the USVI can hardly be beat.  In a relatively small area, the USVI offers both tropical desert and… Continue Reading

FTC to Take Increased Role in Data Security Following Wyndham Decision

Posted in Corporate & Financial Services
A recent unanimous decision by the U.S. Court of Appeals for the Third Circuit is poised to have a considerable impact on cybersecurity for American corporations, including those in the U.S. Virgin Islands. The decision in Federal Trade Commission v. Wyndham Worldwide Corp. puts to rest an ongoing debate regarding the oversight of corporate cybersecurity,… Continue Reading

Navigating the Purchase Agreement when Buying a New Business in the USVI

Posted in Corporate & Financial Services
    Buying an existing business offers an opportunity to experience the thrill of business ownership without a lot of the headache and frustration that comes along with starting a business from the ground up. Typically, the process will involve a great deal of discussion between buyer and seller, and some back-and-forth over general aspects… Continue Reading

Prevention the Key to Avoiding Intellectual Property Infringement

Posted in Corporate & Financial Services
Intellectual property is one of the key components of any company’s brand. Whether your business is brand new or you’ve been an established fixture in your industry for a number of years, you likely have a logo, product or other property upon which your business’s image—and perhaps even your livelihood—depends. Discovering that another entity has… Continue Reading