ACTA Holdings LLC is seeking tax incentives through the Virgin Islands Economic Development Commission to establish an investment management company in the U.S. Virgin Islands, with founder David Taylor telling board members the company intends to invest not only in financial markets but also in developing Virgin Islands talent.
During Thursday’s public hearing, board members questioned Taylor about the company’s business model, hiring plans, workforce development initiatives, regulatory compliance and long-term commitment to the territory.
Represented by attorney Marjorie Roberts, ACTA Holdings is applying as a Category IV designated service business that would provide investment management, foreign exchange trading, private equity, real estate investment management and family office services from its proposed headquarters on St. Thomas while serving clients primarily outside the Virgin Islands.
Taylor, a transactional tax attorney who recently became a Virgin Islands resident, said opening the business fulfills a vision more than two decades in the making.
“I’ll never forget the first time I stepped off a plane in St. Croix,” Taylor said. “It felt like home to me. It’s been 25 years before life lined up and business lined up with the opportunity to come and be a resident and join your wonderful community.”
According to Roberts, ACTA Holdings plans to invest at least $100,000 in the business, employ a minimum of five full-time workers within its first year of operations, provide comprehensive employee benefits, and make annual charitable contributions to organizations throughout the territory, including the Department of Education, the Territorial Scholarship Fund and the Labor Department.
Workforce development emerged as one of the central themes of the hearing.
Taylor shared his own journey as the first member of his family to attend college before securing an internship at IBM, an opportunity he said transformed his career.
“I didn’t always know much about business,” Taylor said. “I knew how to work hard and I knew how to do the right thing. That’s what my parents taught me.”
He said he hopes to provide similar opportunities for Virgin Islanders interested in finance and investment management.
“I have a huge heart for training young people,” Taylor said. “I’m very excited about finding those young people that are in the territory and bringing them into our family … and developing them so they can have the opportunity that God gave me.”
Roberts said ACTA also hopes to partner with the University of the Virgin Islands by offering guest lectures on foreign currency trading, internships and other educational opportunities. She added that the company is interested in working with the Department of Labor to identify Virgin Islanders studying finance or business on the mainland who may want to return home after graduation.
Board Secretary Jose Penn questioned the company’s projected financial growth, noting that revenue is expected to increase significantly during the first five years while staffing projections remain relatively modest.
Taylor explained that investment management firms scale differently than many traditional businesses because staffing needs are driven more by the number of investors than by the amount of assets under management.
“As our investor count rises, our personnel, I believe, will rise as well,” Taylor said. “I’m a huge believer in customer service. We really care about the information, the communication and the education that we give.”
He added that ACTA intends to build “world-class organizations with world-class people” and help train the next generation of Virgin Islands financial professionals.
Taylor also told board members that the company’s current workforce consists entirely of Virgin Islands residents and said hiring local employees would remain a priority as the business expands.
Board members also asked how artificial intelligence is reshaping the investment industry. Taylor said foreign exchange trading has evolved significantly, with algorithms now executing much of the trading activity.
“Now we are training humans to manage what you would call AI, but algorithms and programs,” he said, adding that ACTA is also investing in emerging “physical AI” technologies as artificial intelligence continues to transform the financial sector.
Board members also sought clarification on whether ACTA would establish operations in the territory without EDC benefits.
“The investment model is all geared toward efficiency and organizational returns,” Taylor said. “Without the tax benefits, the economic structure would not work.”
Taylor explained that ACTA Holdings would serve as the parent company receiving any approved EDC benefits, while wholly owned subsidiaries could later be established to carry out specific business functions outlined in the application. Roberts said the company would notify the EDC and provide all required documentation before forming any subsidiaries.
Managing Director Margarita A. Benjamin asked about ACTA’s proposed remote work policy, emphasizing that employees working remotely must continue performing qualifying services within the Virgin Islands to comply with EDC sourcing requirements. Taylor said the company understands those obligations and will provide the necessary policies to ensure compliance.
The board also requested that ACTA notify the EDC of any future regulatory registrations involving commodities trading, family office operations or investment management as part of its ongoing compliance process.
The hearing concluded with board members thanking Taylor for his presentation before moving on to the next agenda item.
