Economic Substance

Economic Substance

Whether assistance with classification and ongoing reporting, or the provision of support services and premises, we offer a range of services to assist clients comply with their substance requirements in the numerous jurisdictions worldwide that have introduced Economic Substance legislation in recent years.

Trident are strong. We see them a lot. They are pragmatic and sensible.

Chambers & Partners High Net Worth Guide, 2023

Singapore market sources see Trident Trust as a leading player in the fiduciary space and one which is particularly active across Asia.

Chambers & Partners High Net Worth Guide, 2022

They are going from strength to strength, and have defined themselves as the market leader.

Chambers & Partners High Net Worth Guide, 2020

Our Economic Substance Services

Corporate entities located in a jurisdiction with economic substance legislation will have to identify whether they carry on relevant activities as defined in the legislation. If the company derives income from the relevant activity, it must demonstrate adequate economic substance within the jurisdiction. In addition, most jurisdictions require the filing of an annual economic substance return, even if company is not engaged in any relevant activities

Classification & Reporting

We have dedicated teams in the jurisdictions in which we operate that have economic substance requirements, who are able to assist with both the classification exercise and ongoing reporting. Where the legislation permits, we have built dedicated substance filing tools to assist in automating the process and ease the administrative burden on our clients.

Support Services

Our range of corporate management and administrative services can be configured to help comply with economic substance requirements. These include: directorship services; company secretarial support; annual compliance reviews; safekeeping of electronic copies of the company’s core documents; bookkeeping and financial statement preparation; mail collection and processing.

Enhancing Substance

Where clients require assistance in enhancing their economic substance, in certain cases we may be able to assist through provision of meeting rooms and conferencing facilities for quarterly board meetings, provision of office premises and IT support; the sourcing of a dedicated employee to be included in the company payroll to assist with the day-to-day activities of the company.