Dr. Gillian Marcelle, executive director of the Virgin Islands’ Specialist Economic Development Agency, the UVI RTPark, addressing VIP guests at the June 7th Investment Showcase in NYC.
By NAN Business Editor
News Americas, NEW YORK, NY, Fri. June 16, 2017: At least one Caribbean economic development agency wants to make it easier for companies to invest in the region.
That’s the message Dr. Gillian Marcelle, executive director of the U.S. Virgin Islands’ Specialist Economic Development Agency, the UVI RTPark, brought to potential investors, executives and members of the Caribbean Diaspora, at the agency’s VIP Investment Showcase Reception during Caribbean Week in New York on June 7th.
“We are ready to help you set up a business in the U.S.V.I. in as little as three to four months,” Dr. Marcelle told the some 60 plus VIP guests at the Showcase in the financial capital of the world. “We see the UVI RTPark as an entry point to the US and a bridge to the wider Caribbean. A company establishing in this Caribbean US territory will profit from a number of benefits, including up to 90 percent reduction in income taxes for qualifying income, as well as reductions or exemptions in other taxes. From this base, you can serve clients anywhere in the world.
Christopher Halliday, partner at Morgan, Lewis & Bockius LLP, told the audience, the RTPark will foster economic growth, not just in the USVI, but across the Caribbean.
Applying for membership to the RTPark program is simple and involves three stages: screening and pre-application; negotiation of a term sheet and a formal application procedure.
The RTPark is keen on attracting technology companies in health and medicine, energy research & system deployment, as well as marine science related products and Internet advertising and software development.
Meanwhile, Chairman of the UVI RTPark’s Board of Directors, Edward E. Thomas, lauded the agency’s first Caribbean Diaspora focused marketing efforts and reminded investors that there is no limit to the number of companies who can become clients of the program.
And President of the University of the Virgin Islands, Dr. David Hall, said that he looks forward to the ongoing public/private sector partnership between clients of the RTPark and the University as the agency continues to promote the U.S.V.I. as an impact investment hub for the Caribbean.