tHE iNDUSTRY AT A GLANCE
The U.S. Virgin Island’s Economic Development mix has been centered around the Tourism, Manufacturing, Trade, and Services Industries accounting for ⅗ of the GDP and the Government sector, which is currently the largest employer in the Territory, accounts for almost ⅕ of the GDP. The top economic activity is Tourism once rivaled by the Manufacturing sector which included crude oil refining and now features rum distilling, electronics, pharmaceuticals, and other goods. The territory’s economy is six times more energy intensive than most U.S. jurisdictions which poses obstacles for economic growth. In an effort to offset this hurdle many individuals and businesses alike have diversified their energy mix.
TAX INCENTIVE OPPORTUNITY
The U.S. Virgin Islands features various tax incentive programs to help spur economic growth and attract new businesses.These programs are available through the Economic Development Authority (EDA) and the UVI Research and Technology Park (RTPark). Whether a business has been around for years, established in a different jurisdiction, new to the territory, or is in the start-up stages, it will most likely necessitate trusted legal counsel on a whole host of matters. With an experienced law firm like McChain, Hamm, and St. Jean, LLP by your side, you’ll be able to tackle whatever new challenges your business may face.
business legal support
Businesses tend to need legal support with entity formation, contracts, mergers and acquisitions, strategy and tax planning, corporate governance, organization and operations, mergers and acquisitions, intellectual property, SEC reporting, general counsel and more. Federal and state securities laws dictate how many of these actions operate. Business law attorneys know exactly what these laws say, making it vital that a corporation has a trusted attorney to take care of matters at the state and federal level. Corporations and institutional investors also need legal support to ensure that transactions with emerging businesses and other organizations are handled correctly. A business can best protect its own interests when it has an attorney on hand to look over any contract or official negotiation with another organization.
contact our law firm today
If your business needs to navigate any complicated situation, you need a reliable attorney from Mcchain, Hamm and St. Jean, LLP. Business law attorneys know what documents you need to file, organizations you need to contact, and regulations you need to follow. Allow us to navigate the legal system for you so that you can properly protect your business’s finances and reputation.
Contact Mcchain, Hamm and St. Jean, LLP today to schedule a consultation about your legal needs.
LEGAL COUNSEL THAT YOU CAN COUNT ON.
Over 75 Years Of Combined Law Experience