Yes, that's correct. Total tax of 3% to 4% on EDC qualified income if you are a Virgin Islands resident. - Curtis
The EDC (Economic Development Commission) is the local governmental authority which has the statuatory right to grant tax exemptions based on perceived economic benefits to the territory. Usually this means hiring at least 10 people who were either born in the Virgin Islands or have been residents for at least a year, plus other commitments depending on your type of business. The U.S. Virgin Islands also has their own taxing entity the Internal Revenue Bureau so V.I. residents don't deal with the IRS.
How's your internet connection in St. Thomas? I've heard that there are only two main providers and both are very slow to the US. What kind of connection do you use for trading?
Already talked to Joe. I was just wondering how inflector was trading with such a high ping to the US.
Joe had that at the last place he tested; seems to be inconsistant depending on where you try on the island ...
The last I heard was that the connection was getting better. Definitely sounds like a great place to trade from.
Once he gets the office setup it will be fine. I don't think someone could reliably trade from their home there though. Plus a 90% credit for US traders, better scenery, better restaurants, real grocery stores, what could be better ...
We've got a T1 tied directly to Sprint's Orlando, FL backbone. I've got three or four hops to many other networks in the U.S. I'm pinging about 70ms to 80ms to some of Joe's servers, 100ms to others and 50ms to lastatlantis.com. I have no idea how that compares with the other places he's looking at. The issue seems to be as much the interconnect between Sprint and the other network as it is our connection to the U.S. With one of the IPs, I have only three hops in the Sprint Network and then there are 6 inside Joe's network.