The Economic Substance Act 2018 (the “Act”) requires Bermuda-based entities that are carrying on a “relevant activity” in a relevant financial period and entities claiming “non-resident entity” status under the Act to file an...more
5/30/2025
/ Banking Sector ,
Bermuda ,
Business Entities ,
Compliance ,
Corporate Governance ,
Economic Substance Doctrine ,
Filing Deadlines ,
Filing Requirements ,
International Tax Issues ,
Offshore Funds ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements
Recent decisions in the Delaware courts have prompted many corporate groups to re-evaluate if Delaware is the best domicile for their operations. Delaware has been the first choice US jurisdiction for incorporating corporate...more
3/7/2025
/ Bermuda ,
Board of Directors ,
Business Entities ,
Conflicts of Interest ,
Controlling Stockholders ,
Corporate Governance ,
Corporate Transparency Act ,
Delaware ,
Domicile ,
Jurisdiction ,
Popular ,
Regulatory Requirements ,
Relocation ,
Shareholders
For Bermuda-based entities which have a financial year end of 31 December 2024, the final quarter of the fiscal year is a good time to consider their position with respect to Economic Substance.
Economic Substance Regime...more
The Economic Substance Amendment Act 2021 was enacted on 30 June 2021, bringing within scope of the Economic Substance Act 2018 all Bermuda partnerships and overseas partnerships that are engaged in a relevant activity,...more