A USVI exempt company[7] may be used by foreign persons to own an aircraft registered with the U.S. Federal Aviation Administration. In order to meet the FAA requirements, the stock of the exempt company must be owned by a voting trustee who is a U.S. citizen. Using a USVI exempt company for this purpose is preferable to using a Delaware company (which is the traditional corporate vehicle) because, unlike a Delaware company, a USVI exempt company is free of federal income taxes.