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HOME > EXPORT TAX BENEFITS > VIEXCO > INCORPORATION, IMPLEMENTATION & MANAGEMENT SERVICES
 
VIEXCO INCORPORATION, IMPLEMENTATION & MANAGEMENT SERVICES

FOR OVER 20 YEARS, EXPORT ASSIST HAS BEEN INCORPORATED IN THE U.S. VIRGIN ISLANDS (USVI), OPERATING EXPORT TAX BENEFIT PROGRAMS THROUGH ITS OFFICE IN ST.THOMAS. OUR EXPERIENCED, PROFESSIONAL STAFF CAN MANAGE ALL OF YOUR VIEXCO ACTIVITIES.

Export Assist offers a full range of VIEXCO management services, including:

Prior to incorporation, a business plan must be prepared by Export Assist (fee to be determined) and a Section 482 transfer pricing study must be obtained from a third party provider. For more information, please contact Wendy Weir, Chief Operating Officer, at 800-894-8366 or wweir@exportassist.com.

Incorporation

Export Assist will incorporate your U.S. Virgin Islands Export Corporation (VIEXCO) in 24 to 48 hours at which time your export tax benefits begin.

Implementation

After filing for incorporation, Export Assist will:

  1. File IRS Form SS-4 in order to obtain the EIN number in the U.S. Virgin Islands.
  2. Pay the government filing fees on behalf of the U.S. parent corporation, including the incorporation fee, and business license.
  3. Provide a complete incorporation document package specifically designed for the VIEXCO, including by-laws, articles of incorporation, minutes, issuance of stock certificates, business license, etc.
  4. Have completed VIEXCO document package reviewed by a major New York/U.S. Virgin Islands law firm.
  5. Issue stock certificates on behalf of the VIEXCO per the Pre-Incorporation Subscription Agreement.
  6. Install the VIEXCO accounting system.
  7. Set up general ledger and chart of accounts.
  8. Open corporate bank account(s) which would be used for general payables and expenses including the management fees of the VIEXCO, disbursement of all dividends, and legal and accounting fees.
  9. Set up, at Export Assist’s cost, an office and operations facility in the USVI for the VIEXCO.
  10. Make available VIEXCO electronic communications and telephone communications to such office, a mailing address, and such other equipment and facilities as it deems necessary to enable it to perform its business operations.

Annual management and general accounting

Management Services

  1. Arrange for and conduct all meetings of the Board of Directors of the VIEXCO, including the annual meeting and other meetings of the shareholder(s) of the VIEXCO, as required.
  2. Attend these management meetings, upon request, to report, discuss and set strategy and policy for the VIEXCO.
  3. Maintain a set of the permanent books of account and related records of the VIEXCO at its office.
  4. Prepare corporate resolutions and meeting reports for board signature and insertion as permanent records in the corporate minute book.
  5. Act as a resident agent for service of process.
  6. Arrange for compliance by the VIEXCO with all relevant requirements and regulations under USVI law.
  7. Attend to all communications to the VIEXCO at its office.
  8. Maintain compliance of the VIEXCO corporate bank account.
  9. Maintain, unless and until otherwise notified, the VIEXCO office for the operation and management of VIEXCO business.
  10. Perform asset compliance monitoring.
  11. Perform finance functions like a bank.
  12. Deposit payments to the VIEXCO bank account.
  13. Balance and reconcile the monthly bank statement.
  14. Perform asset management functions.
  15. General Accounting Services

  16. Administer all income derived from the active conduct of the business.
  17. Monitor compliance.
  18. Provide general accounting and report preparation.
  19. Collect payments.
  20. Administer special terms and conditions.
  21. Produce reports as requested.
  22. Record and notify changes per the Board of Directors.
  23. Assist with population of all required IRS and USVI government forms.

Fees

Our one-time incorporation and implementation fee is $4,500, which includes all USVI government fees. Our basic annual management and accounting fee is $5,000; additional fees would be charged based upon the type of services performed and the volume of transactions. The annual USVI government fees are $100 for the business license and $300 for the flat annual franchise tax. There is no USVI corporate income tax or gross receipts tax.

 

 

 
   
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