BVI's Economic Substance Rules Now Finalised - November 2019
The BVI’s Economic Substance Rules, which govern the practical application of the Economic Substance (Companies and Limited Partnerships) Act, 2018, have now been finalised. The Rules were published by the BVI International Tax Authority (ITA) at the beginning of October 2019 and will come into force at the same time as the latest amendments to the BVI's Beneficial Ownership Secure Search System Act, 2017. The amendments to the Act were gazetted on 31 October and are expected to take effect soon.
Our Latest Briefing Materials
- The full text of the Rules can be accessed here.
- Our memo on the Rules summarises the changes made to them prior to them being finalised.
- For more comprehensive information on economic substance in the BVI, please read our new Guide to Economic Substance in the BVI, which provides a detailed overview of the jurisdiction's substance rules.
How We Can Help
We offer a range of services to assist clients comply with their substance requirements. For more information or to request assistance with classifying your entity and complying with the substance requirements, please contact your usual Trident representative or email us at BVIsubstance@tridenttrust.com