Posted By: MNCompliance
Company In US Virgin Islands - 12/14/20 05:13 PM
We have a customer who is located in the US but bought commercial building in the US Virgin Islands and has formed a LLC in the US Virgin Islands. They want to open a DDA with us for this business. What risks should be consider? Anything else we should be thinking about? Thanks.
Posted By: ACBbank
Re: Company In US Virgin Islands - 12/14/20 06:55 PM
I have not looked at that jurisdiction in quite some time but I would be confirming that bearer shares and nominees shareholders are not allowed. I imagined that you confirmed that they actually purchase the real estate?
Regarding the LLC itself - if it's a real estate holding company that's not unusual assuming you that you see the typical activity for such an account.