St. Croix, USVI

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11:05 pm, Nov 2, 2025
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Incorporations up nearly 8% in H1

Virgin Islands News

Incorporation numbers for the first half of this year show a picture of steady growth, building on 2024’s modest recovery from the 25-year low recorded in 2023.

All told, 14,008 companies were formed in January through June of this year — up almost eight percent from the same period in 2024, according to the Financial Services Commission’s most recent statistical bulletin.

Of those, 6,971 were formed in the first quarter (compared to 6,124 last year), and 7,037 were formed in the second quarter (compared to 6,864 last year).

The numbers are good news for the incorporations sector following a long-term slide from the peak in 2007, when 77,022 companies formed.

In 2023, the annual tally fell to a 25-year low of 22,317 — 45 short of the previous low recorded in 2020 — before climbing nearly 23 percent in 2024.

Despite the steady rise in new incorporations this year, the total number of business companies registered in the Virgin Islands fluctuated.

At the end of March, 361,167 companies were on the register — up from 356,675 at the end of 2024. But by the close of June, the tally had dropped again, to 355,024.

The number has been on a fairly steady slide since peaking at 481,002 in December 2011.

Beyond incorporations

The financial sector has also been trying to widen out its business base beyond incorporations in recent years by expanding into other areas such as limited partnerships and trademarks.

The first quarter of this year saw a decline in new LPs, with 75 being formed, down from 86 in the previous three months — but an increase on the 61 registered in the corresponding first quarter of 2024.

The FSC bulletin shows the number of new LPs bounced back to 103 in the second quarter of 2025 — up from the figure of 93 recorded during the same period of last year.

Trademarks

However, the 79 new applications to register a trademark in the first three months of the year dipped to 73 in the following quarter.

These figures compare with 62 and 89 applications, respectively, in the same periods last year.

Since the enactment of the Trade Marks Act in September 2015, a total of 2,820 new applications to register a trademark have been filed.

Recent years have seen 270 trademark applications registered in 2021; 345 in 2022; 278 in 2023; and 313 in 2024, the FSC figures show.

The commission’s numbers also showed a total of 168 matters before the Licensing and Supervisory Committee in the first three months of 2025, while the following three months of saw 267 matters being considered by the LSC.

The LSC grants approvals and authorisations for specified initial licensing and ongoing applications under financial services legislation.

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St. John Board of Realtors Welcomes Public to Weekend Home Expo

A group of St. John professionals invited the public to explore different aspects of home and land ownership at a weekend event held in Estate Enighed. Saturday’s St. John Home Expo gave visitors a chance to learn about owning property, acquiring property, managing and maintaining property, and passing property along to future generations.
One of the exhibitors at the event brought word of a plan to fulfill a promise of home ownership to residents at an affordable housing development built in 2005.
Members of the St. John Board of Realtors staged this year’s event at the Marketplace shopping center with the goal of “strengthening our neighborhoods and supporting the future of homeownership in the Virgin Islands,” said chief organizer Keleigh Rees.
Exhibitors handed out business cards and shared details about services being offered to property owners and villa managers.

For two new business owners, it was a way to introduce themselves to potential clients. “One of the things I try to get into people’s heads is preventive maintenance,” said John Scabis, owner of the company Big Time Maintenance, “It’s the small things that go unnoticed that turn into big things down the line.”
For the founder of My Estate Shield, wills and trusts are essential tools for family property management. “Across the country in America, 75 percent of folks don’t have something as simple as a will,” said business owner Steve Lowe.
Without having the formalities in place, he said, families can’t make good decisions about protecting, managing or sharing homes and land. “We’re completely focused on helping families get their affairs in order. We have about $170 million of V.I. wealth from average people like you and me protected with proper estate plans,” Lowe said.
In another corner of the expo, new business owners Scot McQuaide and Kade Wallace told the story of buying a waste management business to relieve St. John villa renters from having to drop off recyclable plastics and aluminum.
“We pick up primarily from villas, but we also do some local and residential pickups at custom rates,” McQuaide said.

Housing contractor Robert Jackson sent a team to help spread the word about a plan to make good on a promise made when Bellview Housing Community was built 20 years ago. The promise was made to ground-floor occupants of duplex apartment buildings who stayed in their units for a specified time.
At that time, those residents were supposed to be given an option to buy their apartments. But when their company, Jackson formed, was sold, the new owners did not follow through with the rent-to-homeowner commitment, said team member NaOmi Cagan.
So, Johnson bought the company back and sought financial support from the Community Development Block Grant Program. “He’s trying to do his part by doing right by the locals, and sell them back their units,” she said.
Also on hand to greet the public were members of the V.I. Housing Finance Authority, which offers homebuyer education classes and other programs for V.I. residents who meet the agency’s eligibility requirements.

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