New Economic Substance rules introduced
As from 1st January 2019, economic substance requirements have been introduced in a number of jurisdictions, meaning that certain companies and partnerships are required to declare annually if they are engaged in what is called a “relevant activity” and demonstrate – where applicable – that they are satisfying the economic substance test for this activity.
These jurisdictions include, but are not limited to:
- the Bahamas
- British Virgin Islands
- Cayman Islands
- Jersey, Channel Islands
Are your entities ready for the economic substance requirements?
Citco offers a broad range of services to assist clients with their economic substance requirements.
Don’t hesitate to contact us, to see how we can assist you, where relevant, to meet your new obligations.