Offshore companies at a glance:
- Economic Substance Filing
With effect from 1 January 2019, offshore jurisdictions including the Cayman Islands and the British Virgin Islands (BVI) have issued Economic Substance Laws that introduce new reporting and economic substance requirements for entities conducting “relevant activities” in local jurisdictions.
With global tax environment gearing towards greater transparency, it is possible that economic substance requirements will expand to more jurisdictions, especially those that have low or no taxation.
Our team are happy to discuss with you in details about any new filing requirements if you plan to set up an offshore company.
If you would like to know more about Offshore Company Incorporation, please complete the form below and we will reply to you soon.