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The Department of Licensing and Consumer Affairs on Wednesday evening announced a new license category created for businesses engaging in any transactions in the U.S. Virgin Islands. Called "General Business", the license is approved within 24 hours provided the applicant confirms that the appropriate formation documentation has been filed with the Lieutenant Governor’s Office for approval of use of its trade name, if applicable. Additionally, the applicant must have obtained a favorable background check from the Virgin Islands Police Department, and paid the DLCA licensing fee.
The new license category aims to get potential business owners up and running quickly by giving authority to open bank accounts, get into lease agreements and do other essential work toward opening a business. However, once you're ready to actually start doing business in the territory, you must submit in writing to the commissioner of DLCA your intent by filling out a business license application at www.dlca.vi.gov.
Moving governmental transactions online was one of Governor Albert Bryan's promises during the 2018 campaign season. The administration has since made a number of moves to that end, including the registration of vehicles now being done online, and a fully automated grants management program that will streamline the grants search, application and monitoring process.
Applicants of the new license category are also required to obtain approvals from the Virgin Islands Police Department, Department of Planning and Natural Resources, Virgin Islands Fire Service and in some instances, Virgin Islands Department of Health prior to receiving a business license. The transactional license only serves to get a potential business owner ahead of the red tape.
The cost of a General Business license is $200.00, DLCA made known. When an individual or a new business entity receives a General Business license, that individual or entity is only permitted to do the following transactions under this category:
- Opening of bank accounts
- Purchase of personal and/or real property
- Entering into lease agreements
- Importation of equipment
- Registering of motor vehicles and other related non-regulated transactional business activity
“DLCA has had numerous discussions, including a hearing before a Committee chaired by Senator Alicia Barnes on creating a transactional license” stated DLCA Commissioner Richard Evangelista. “I am pleased to inform the public that DLCA has done so to aid the business license applicant who needs DLCA’s expedited approval to engage in transactional activities like opening bank accounts and entering into a lease agreement, etc.”
DLCA stressed that the General Business license is for a business that has a business tax identification number and is not otherwise transacting a business activity that requires the business to obtain a license for a specific business category activity or required by any other provision of the Virgin Islands Code. If a business entity is comprised of principals who are required to maintain a license granted or regulated by a local, state or national certification board or body, the entity and its licensed principals are not be permitted to obtain a General Business License.
For more information on the steps to apply for a business license, you may contact DLCA at 340.713.3522 on St. Croix; 340.714.3522 on St. Thomas and St. John, 340.693.8036. For consumer related issues, you may email DLCA at [email protected] or call our hotlines to report scams or alleged price gouging at 340.727.SCAM(7226) on St.Croix or St. Thomas/St. John at 340.771.SCAM(7226). Follow us on Facebook @dlcavi.
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