The British Virgin Islands (BVIの) adopts economic substance requirements applicable from 1 1月 2019 (with a six-month transitional period for existing legal entities) if it conducts any of the following “relevant activities”:

• 銀行業務
• insurance business
• fund management business
• finance and leasing business
• 本社事業
• 海運業
• holding business
• 知財事業
• distribution and service centre business.

If the economic substance fail, the BVI non-resident company needs to show that it is resident (and taxed) in another jurisdiction. Companies registered in the BVI are widely used in Hong Kong.