Summary – EDC Public Hearing 20260319
1 Virgin Islands Economic Development Commission Public Hearing of Thursday, March 19, 2026 Summary During the Virgin Islands Economic Development Commission (“VIEDC”) Public Hearing on Thursday, March 19, 2026, the VIEDC Governing Board heard one (1) application presentation as follows: ❖ APPLICATIONS: • St. Thomas Family Partners, LLP – New Application [Category IV – Designated Services Business; Investment: $100,000; Jobs: 5; Location: St. Thomas, VI] St. Thomas Family Partners, LLP (“STFP”) seeks VIEDC tax incentive benefits as a Category IV – Designated Services Business. On February 5, 2026, STFP filed an application with the Virgin Islands Economic Development Commission (“VIEDC”) for tax incentive benefits as a Category IV – Designated Services Business for its provision of family office services, investment management and consulting services, and business and real estate management and advisory services pursuant to. All of STFP’s non-family office clients will be located outside the USVI. …
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1 Virgin Islands Economic Development Commission Public Hearing of Thursday, March 19, 2026 Summary During the Virgin Islands Economic Development Commission (“VIEDC”) Public Hearing on Thursday, March 19, 2026, the VIEDC Governing Board heard one (1) application presentation as follows: ❖ APPLICATIONS: • St. Thomas Family Partners, LLP – New Application [Category IV – Designated Services Business; Investment: $100,000; Jobs: 5; Location: St. Thomas, VI] St. Thomas Family Partners, LLP (“STFP”) seeks VIEDC tax incentive benefits as a Category IV – Designated Services Business. On February 5, 2026, STFP filed an application with the Virgin Islands Economic Development Commission (“VIEDC”) for tax incentive benefits as a Category IV – Designated Services Business for its provision of family office services, investment management and consulting services, and business and real estate management and advisory services pursuant to. All of STFP’s non-family office clients will be located outside the USVI. STFP may establish one or more wholly owned, disregarded subsidiaries through which it will carry out the above business activities. STFP will also reinvest in its own account. STFP is located on the island of St. Thomas. STFP commits to employing five (5) full-time employees, including two (2) owners, within one (1) year of the date that its Certificate is signed by the EDC Chairman, or within one (1) year of commencement of benefits, whichever is later. STFP also commits to investing a minimum capital investment of $100,000 in the benefited business. STFP further agrees to meet all statutory and special conditions, and other applicable requirements for the grant of tax incentive benefits.