Business

DLCA Now Providing 'Transactional Business License' in 24 Hours

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....