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U.S. Virgin Islands corporations receive several benefits including: Tax Incentives: The U.S. Virgin Islands offers major tax breaks like a 100% exemption from business property, excise, and gross receipt taxes.
However, after the 1830s, the islands entered into a period of economic decline, and the Danish government found that the West Indies colony was becoming increasingly expensive to administrate.
The U.S. presence in Hawai'i grew out of the need for a substantial base of operations in the Pacific to support U.S. interests in China. Ultimately this need became so great, and the U.S. presence so large, that the United States annexed the islands in 1898.
The US purchased the islands in 1917, when they were known as the Danish West Indies, hoping that they'd be an ideal strategic location for a naval base and would help secure the region surrounding the Panama Canal.
The Danish part had been in economic decline for quite some time, owing to losses in sugarcane production after slavery was abolished in 1848. In 1917, the United States purchased the Danish part for $25 million, mainly for strategic reasons to assure tranquility in the Caribbean Ocean.
During World War I, Denmark finally sold Saint Thomas, Saint John and Saint Croix to the U.S. for $25 million in gold coin. Every March 31, the U.S. Virgin Islands of Saint Thomas, Saint John and Saint Croix observe ?Transfer Day? to commemorate the sale of the islands from Denmark to the United States.
The islands remained under Danish rule until 1917, when the United States purchased them for $25 million in gold in an effort to improve military positioning during critical times of World War I. St. Croix, St.
Any of the Virgin Islands will prove to have a slower pace of life, easy access to the tropical outdoors, plentiful waterfront activities, and year-round beautiful weather. Explore our USVI real estate guides to find the right community for your next home.