Belize | Economic substance reminder
Belize | Following our previous communication related to Economic Substance in Belize, we remind you that all IBCs must report their status in this regime on an annual basis through their Registered Agent to the Competent Authority, the Belize International Financial Services Commission (IFSC). The Economic Substance Act, 2019 (ES Act) was enacted in Belize on October 12, 2019, and came […]
5 Best practices to safeguard your legacy
Economic legacy | There are 5 best practices to safeguard your economic legacy that has proven to be highly effective for decades.
Belize Economic substance
Belize economic substance | The economic substance Act, 2019 (ES Act) in Belize was enacted on October 12, 2019, and came into force on January 1, 2019. This act applies to legal entities which are incorporated or continued under the International Business Companies Act (Chapter 270) – i.e. IBCs. This legislation was introduced to address the concerns expressed by […]
Barbados Economic substance requirements
Barbados economic substance | Barbados enacted the Companies (Economic Substance) Act, 2019-43 (CES Act) on November 27, 2019. This law was enacted in response to the requirements of the Organization for Economic Cooperation and Development (OECD) and the European Union (EU) to prevent tax avoidance. A resident company is required to file an Economic Substance […]
Bahamas | Economic substance report filing extension
Bahamas economic substance | The Bahamas Ministry of Finance has granted an extension on the deadline to file the 2019 economic substance report (from December 31st, 2020) to January 31st, 2021 for entities incorporated prior to January 1st, 2020, and with fiscal year-end December 31st, 2019. Bahamas | economic substance report filing extension What needs to be […]
BVI | Economic substance frequent questions (FAQ)
Is the company subject to any banking regulations or supervision anywhere?
If “Yes”, your BVI company is conducting banking business.
