Dla Przedsiębiorców Międzynarodowych
Like their flag with three legs: the Isle of Man prepares to triple kick with sanctions all the investors or companies that do not pass their economic substance’s tests.
Upcoming laws are to be adopted in Jersey regarding Economic Substance for companies.
Taking effect on the 1st January 2019: Guernsey adopted Economic Substance laws.
Already in force: the Cayman Islands adopted laws & regulations regarding economic substance requirements.
Bermuda is added to the list of jurisdictions adopting an Economic Substance Regime. Bermuda is used by numerous insurance companies (for example: AIA in Hong Kong) in order to lower the costs and avoid stamp duty on shares. Insurance companies already have on the ground staff in Bermuda so this should not be a problem…
The Bahamas follow many other jurisdictions by adopting substantial economic presence requirements: activities must be conducted from the Bahamas.
The British Virgin Islands (Brytyjskie Wyspy Dziewicze (BVI) adopts economic substance requirements applicable from 1 Styczeń 2019 (with a six-month transitional period for existing legal entities) if it conducts any of the following “relevant activities”: banking business insurance business fund management business finance and leasing business headquarters business shipping business holding business intellectual property business distribution and service…
Mauritius is phasing out their Global Business Companies (GBC) on the 30 czerwiec 2021. Only one single regime of GBC will survive, with 2 resident directors in Mauritius required, and a single 15% corporation tax rate.
The low-cost model is spreading in many markets: airlines, tourism, manufacturing, housing, finance, itp… There was a time when the customers were doubtful regarding low-cost airlines (safety, reliability, itp). But within a decade: the prices were so low that the customers were too attracted to ignore them. After almost a decade of offering PROMINEE® services…
After Belize, Barbados is the next country to alter their assets rules for IBCs and ISRLs (International Society with Restricted Liability). IBCs and ISRLs will be phased out on the 30th June 2021, and all companies will be converted into RBC (Regular Barbados Companies). This was done under the pressure of the OECD and the…
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