Virgin Islands Option to Purchase Real Property with Election to Renew Option
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FAQ
Thomas, St. John, St. Croix and Water Islandis the same as purchasing property in the United States. If you do decide to buy property in paradise, the title is handled the same and have the same guarantees and the Constitutional protections that one enjoys on the continent.
The cost of living in the U.S. Virgin Islands is higher than on the U.S. mainland. On average, apartments cost $2,000 per month. A two-bedroom house costs at least $285,000.
The US Virgin Islands currently imposes a real property tax at 1.25% of the property´s assessed value. The propertyA´s assessed value is 60% of its actual value or fair market value. Thus, the effective tax rate is 0.0075% of the propertyA´s fair market value.
US Virgin Is.: Capital gains taxes (%). It is their only source of capital gains in the country.
The U.S. Virgin Islands is unique among offshore tax planning jurisdictions: it is the only jurisdiction which can offer a tax-free entity under the U.S. flag.
The U. S. Virgin Islands are organized under the US Revised Organic Act of 1954. Residents of the U. S. Virgin Islands are US citizens. At the national level, the U. S. Virgin Islands elect a delegate to Congress from their at-large congressional district.
US Virgin Islands taxes are low Property: Property taxes are imposed at 1.25% of the property's assessed value. The assessed value of the property is generally 60% property's fair market value.
The United States Virgin Islands' at-large congressional district encompasses the entire area of the U.S. Virgin Islands. The territory does not have a voting member of Congress, but does elect a delegate who can participate in debates.
The U.S. Virgin Islands are an organized, unincorporated territory of the United States. Although U.S. citizens, Virgin Islanders cannot vote in U.S. Presidential elections.
Buying Process, Fees & TaxesYes, foreigners can buy property in the US Virgin Islands and the Government of the US Virgin Islands welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in the US Virgin Islands.