755

Notwithstanding anything to the contrary in this subchapter, an international financial services entity that was granted a license under this subchapter before January 20, 2017, and that seeks tax benefits, must apply for the tax benefits available under this subchapter. An international financial services entity that was granted a license under this subchapter after January 20, 2017, and that seeks tax benefits, must apply to the Virgin Islands Economic Development Commission for the tax benefits available and applicable under title 29 Virgin Islands Code. If the applicable requirements have been met, the Commission shall grant the benefits provided for in 29 V.I.C. § 713a without condition. Upon approval of a grant of benefits, the Commission shall proceed promptly to issue the certificate referred to in 29 V.I.C. chapter 25, subchapter II.