US Virgin Islands’ (USVI) Cannabis Industry Begins Licensing in Less than 1 Month
The U.S. Virgin Islands is soon set to begin their inaugural cannabis licensing round. The Virgin Islands Office of Cannabis Regulations (USVI OCR) has been steadily working towards setting up their industry and have had significant progress in the past few weeks. In a recent interview with the Government House - USVI, OCR Director Joanne Moorehead confirmed that the office’s initial schedule plans are still on track, with anticipated milestones aimed at enhancing the efficiency and transparency of the cannabis licensing process. The first set of applications is set to begin acceptance starting this November. Although medical cannabis use was legalized in 2019, there are currently no operators in the market, creating a true first-mover advantage for anyone interested in participating.
With the final green light given by Governor Albert Bryan earlier in May, the adult-use cannabis industry is poised to take off. With tourist arrivals at an all-time high—2.4 million in 2023 and 1.9 million as of August 2024—and a recent $69 million commitment from the US government, this is the perfect time for the launch, bringing unprecedented economic opportunities to the island. Notably, Texas is the leading state from which their tourist visitors originate, with most coming from the cruise ships leaving Galveston.
Licensing Structure
The US Virgin Islands is set to issue licenses across its main islands, primarily focusing first on three islands: St. Thomas, St. Croix, and St. John.
St. Croix
15 Cultivation Licenses
7 Dispensary Licenses
St. John
5 Cultivation Licenses
3 Dispensary Licenses
St. Thomas
15 Cultivation Licenses
7 Dispensary Licenses
Other license types include:
Manufacturing
Testing
·Research and Development
Micro-Cultivation
These are tailored for small-scale growers, allowing up to 50 flowering plants.
Adult-use consumption lounge permits will be available
Allowed to operate with a dispensary license
*These categories are not subject to the same license limits as cultivation and dispensary licenses.
Licensing Timeline
Dispensary
o December 20, 2024 – Application Opens
o February 4, 2025 – Application Closes
o March 24, 2025 – Licensees Awarded
Cultivation
o May 2, 2025 – Application Opens
o June 17, 2025 – Application Closes
o August 18, 2025 – Licensees Awarded
Micro-Cultivation
o November 4, 2024 – Application Opens
Manufacturing
o January 7, 2025 – Application Opens
o February 24, 2025 – Application Closes
o April 28, 2025 – Licensees Awarded
Research & Development
o November 20, 2024 – Application Opens
o January 7, 2025 – Application Closes
o March 10, 2025 – Licensees Awarded
Application and Regulatory Requirements
The application process will be merit-based, with applicants scored on a scale of up to 1,000 points. To meet ownership and residency requirements, applicant businesses must be at least 50.1% owned by USVI. In the absence of a majority owner, the majority ownership must still be held by USVI residents.
Successful applicants will receive conditional licenses, pending a premises inspection. Licensed operators will be authorized to produce and sell both medical and adult-use cannabis products. Applicants may apply for multiple license types and have the potential to operate vertically within the industry.
Ready to Become a Licensed Cannabis Business Owner in USVI?
Global Go specializes in cannabis licensing and applications (99% win-rate in hundreds of applications), training, compliance automation, advanced analytics, SOPs, mergers and acquisitions, new product launches, technology, security, and best practices. Enhance your prospects for success in the rapidly expanding island cannabis market by reaching out to a Global Go Cannabis Application Director and accessing invaluable US Virgin Island insights today.