V.I. Code tit. 9, § 719 (2019)
2019 US Virgin Islands Code|Title 9 - Banking|Chapter 25 - International Banking Center Regulatory Act|Subchapter I - International Banking Entities|§ 719. Organization

 (a) An international financial services entity may be: (1) any person, other than an individual, incorporated or organized under the laws of Virgin Islands, of the United States, or of any other country, or (2) constituted as a unit of another person, other than an individual, incorporated or organized under the laws of Virgin Islands, of the United States, or of any other country. (b) The articles of incorporation, the partnership agreement or any other written document establishing an international financial services entity must specify: (1) The name by which it is to be known. (2) The street, number and town where its principal place of business is to be established in the Virgin Islands. (3)  (A) In the case of a corporation: (i) the amount of its authorized capital stock, which must not be less than $5,000,000 and of which at least $500,000 must be fully paid at the time the license is issued in accordance with section 721, but the Board may authorize a lesser authorized or paid-in capital, by request of the interested party, when the type of business or power that the international financial services entity intends to exercise or other circumstances thus merits it, in the criterion of the Board; (ii) the number of shares into which it is to be divided and the par value of each share. If the shares are to be issued in series, the date of issue of each series, as well as the manner and term in which payment thereof is to be made. (B) In the case of a person other than an individual or a corporation: (i) the amount of the proposed capital, which must not be less than $5,000,000 and of which at least $500,000 must have been fully paid at the time the license is issued in accordance section 721, but the Board may authorize a lesser proposed or paid-in capital, by request of the interested party, when the type of business or power that the international financial services entity intends to exercise or other circumstances merits it, in the criterion of the Board; and (ii) the name and address of its partners and other owners. (4) The term of its existence, which in the case of a corporation may be perpetual. (5) The purposes for which it is organized. (6) Any other provisions required by the regulations of the Board. (c) An international financial services entity that intends to operate as a unit shall provide certification executed by the person of which it is a unit in the form prescribed by the regulations of the Board, which must specify: (1) The name by which the unit is to be known. (2) The street, number, and town where its principal place of business in the Virgin Islands is to be established. (3) The amount of the authorized or proposed paid-in capital of the person of whom the international financial services entity is to be a unit, whose capital must not be less than $5,000,000, of which at least $500,000 must have been fully paid at the time the license is issued, but the Board may authorize a lesser authorized, proposed, or paid-in capital, by petition of the interested party, when the type of business or power that the international financial services entity intends to exercise or other circumstances thus merits it, in the criterion of the Board; (4) The purposes for which the unit is organized, including a specific limitation of its operations to carry out only those services authorized in section 726; and (5) Such other provisions as may be required by the regulations of the Board.