Economic substance for offshores

Feb 10 2019

The first meeting of ACBK in 2019 was devoted to the most currently discussed topic: “Introduction of an economic substance in offshore”

In addition to a review of the main provisions in the new laws of offshore countries, the participants gathered in more detail the provisions of the act on the mandatory presence of the proper level of actual presence (BVI Economic Substance Act 2018) of the resident companies of the British Virgin Islands. At the round table, participants discussed which companies fall within the scope of this law, which activities are “relevant” and which requirements should be observed by companies. What responsibility will be borne by company owners and secretaries in the face of new realities. And also, that the owners of the offshore business can do to preserve their assets and whether it is necessary at the moment.

We thank everyone for their active participation in the events of the Association of Specialists of Business Consulting !

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