V.I. Code tit. 29, § 703 (2019)
2019 US Virgin Islands Code|Title 29 - Public Planning and Development|Chapter 12 - Economic Development and Incentives|Subchapter I - Economic Development Program|§ 703. Definitions

 As used in this subchapter, unless the context otherwise requires: (a) “Commission” means the Virgin Islands Economic Development Commission created under this subchapter. (b) “Director” means the Executive Director of Economic Development appointed pursuant to the provisions of this subchapter. (c) “Industrial development benefits” or “benefits” means the various tax exemptions and tax subsidies for which beneficiaries may qualify under this subchapter. (d) “Beneficiary” means any person, member of a partnership, partnership or corporation granted economic development benefits pursuant to the provisions of this subchapter. (e) “Resident of the Virgin Islands” means (1) any United States citizen currently domiciled in the Virgin Islands for one (1) year or more; (2) a person who has attended a school in the Virgin Islands for at least six (6) years or is a high school or University of the Virgin Islands graduate and who is registered to vote in the Virgin Islands; or (3) the holder of an alien registration receipt card (United States Department of Justice Form No. 1–151) domiciled in the Virgin Islands for one (1) year or more. A person shall demonstrate that he has been a resident for one (1) year or more for the purposes of this chapter using the date of issuance information from a W-2 form, a voter registration card, a permanent resident card, or a Virgin Islands driver's license. (f) “Small business” means a Virgin Islands business which: (1) is engaged in the business of rum production, milk/dairy production, watch and jewelry manufacturing and assembly, product assembly, manufacturing other than jewelry and watch manufacturing and assembly, agriculture/food processing, Mari culture/food processing, marine industry, raw materials processing, hotels/guesthouses, transportation, telecommunications, service businesses, including, investment managers and advisors, research and development, business and management consulting, software development, e-commerce, call centers, high tech businesses, international public relations, international trading and distribution, businesses serving clients located outside the Virgin Islands, regulated utilities, banking, health care facilities, recreation facilities, and such other businesses or industries as the Commission may designate; and (2) is certified by the Small Business Development Agency (SBDA) as meeting the statutory criteria for being awarded a SBDA loan. (g) “Designated service business” means a business other than a Knowledge-Based Business or E-Commerce Business, as set forth in section 716(c) unless properly referred to the Commission as set forth therein: (1) Commercial Distribution and Trading Services; (2) Public Relations Services including but not limited to publicity, mail order firms; (3) International Banking and Insurance entities that has been duly licensed under Title 9 and Title 22, Chapter 9, respectively of the VI Code; (4) Business and Management Consulting Services (including but not limited to strategic accounting, economic, scientific services); (5) Investment Managers and Advisors; (6) Call Centers; (7) Family Offices; (8) Venture Capital Management and Investment; (9) Investment Banking and Financial Services; (10) Film and Print Industry Activities (including news syndicate, still and motion pictures); (11) Computer, Data, High Technology, E-Commerce and Call Services Center Businesses; (12) Development/Engineering of Software, Blueprints, Intellectual Property; (13) Medical (including Dental, Optical and Ophthalmological) laboratories and specialty medical services; and (14) Any other businesses serving clients located outside the Virgin Islands deemed appropriate by the Commission. (h) “Eligible local supplier” means a supplier certified by the Director as meeting the following criteria: (1) As of the date of certification, the supplier has been licensed to do business in the Virgin Islands for at least one (1) year and has actually conducted business in the Virgin Islands for at least one (1) year. (2) The supplier physically maintains its principal place of business within the Virgin Islands and maintains an inventory in the Virgin Islands appropriate to the size of its business. (3)  (A) In the case of an individual, the supplier must be a resident of the Virgin Islands. (B) In the case of a firm or partnership, each member of firm or partnership must be a resident of the Virgin Islands (if such member is an individual) or the member must meet the requirements of paragraph (C) of this subsection (if such member is a corporation). (C) In the case of a corporation, over 50% of the voting stock must be owned by natural persons who are residents of the Virgin Islands. (i) For the purposes of this chapter, “corporation” shall include a limited liability company and “partnership” shall include a limited liability partnership if such limited liability company or limited liability partnership otherwise meets all of the requirements for economic development benefits.