Officials in the Virgin Islands, the United States territory where Jeffrey Epstein set up most of his businesses, approved a license for him in 2014 to run one of the territory’s first international banking entities, a specialized bank that can do business only with offshore clients. The bank, Southern Country International, renewed its license for each of the next five years, but it’s unclear whether it conducted any business or had any customers. Mr. Epstein, who died while in federal custody last summer following his arrest on sex trafficking charges, does not appear to have done any marketing for the bank or hired much staff. A lawyer for Mr. Epstein told officials in the Virgin Islands in 2018 that Southern Country had not commenced operations. And yet, after Mr. Epstein’s death, his estate transferred more than $12 million to Southern Country, according to court documents. The checks — listed in the estate’s transactions for routine payments such as cable-TV bills and phone service for Mr. Epstein’s many properties — stand out. The list of payments were filed with Judge Hermon-Purcell, who is overseeing his $635 million estate, including the possible establishment of a compensation fund for his victims. The tax break, granted by the US Virgin Islands in 2013, was a boon for Mr. Epstein. Southern Trust generated about $300 million in profit in six years, and he paid an effective tax rate of about 3.9 percent. The source of Southern Trust’s revenue is not clear; the bare-bones corporate filings made by the company in the Virgin Islands do not list any clients.