The Virgin Islands Cannabis Advisory Board approved a draft fee schedule at its Tuesday meeting that isn't for the faint of heart. Hobbyists may think twice about ponying up $1,000 to be a micro-cultivator, while those hoping to open a cannabis dispensary will need to build $25,000 into their budget — $10,000 to apply for the license and another $15,000 once granted. A permit for an adult-use lounge would be $1,500.
Joanne Moorehead, executive director of the Office of Cannabis Regulations, said a full list of the fee schedule would be posted on the office's webpage by Wednesday. It includes $1,500 for a research and development license, $5,000 for a cannabis manufacturing license, and between $2,500 and $10,000 for a license to cultivate cannabis — depending on the number of plants.
Board member Positive Nelson worried high prices might deter those already in the territory's cannabis industry from leaving the illicit market and joining legal growing and sales efforts.
"Legalization shouldn't be so cumbersome and, you know, complicated that it drives people today in the illicit market," Nelson said. "Whether it's for personal consumption or from the cultivation end, we want them to participate. In discourse and as things go along, I'm sure we'll be making some adjustments."
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