Virgin Islands our new vacation rental LLC
I have a new vacation rental in the usvi. Has anyone formed an LLC for a Virgin Islands vacation rental property? The online form is letting me enter my Florida mailing address but says the registered agent must reside there. dont have a mailbox there, or should I just have the mail forward to me in florida?
#1 Commercial Real Estate Investing Contributor
- Developer
- 3,013
- Votes |
- 3,150
- Posts
#1 Commercial Real Estate Investing Contributor
- Developer
One option is to have a local attorney there be the agent.
Side topic. Was discussing USVI couple months back with someone. Then hurricane hit. Did that event create any buying opportunities for you?
#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
- 5,661
- Votes |
- 4,226
- Posts
#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
There are tons of registered agents that do any location. Check out zen business.
Thank you!!
#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
- 13,488
- Votes |
- 11,454
- Posts
#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
Why do you need an LLC for this one property?
Did you pay cash for it?
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
- 5,466
- Votes |
- 7,010
- Posts
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Hey @Carolyn Richards, I am also wondering why you want an LLC? Is there some advantage to having one for out of country investing?
I have a STR property in St. Croix also. It is a 7-unit building in Frederiksted and we put it in a USVI LLC for the corporate protection benefits. The lawyer we used for the closing is also our local agent. You can put a property in a non-USVI LLC, you just need to resister the "out of state" LLC with USVI. Also, with a USVI LLC you can still have a mainland HQ address, you just also have to have a local agent.
Great to know, thank you! So then i think im going to just get the usvi llc and find a local agent. Question, what if im staying there at the house 1/3 of the year? Then could i be the local agent?