Mr Keivon Simons

Keivon Simons

Updates

Private Client & Offshore Services

Update to Bermuda's economic substance legislation
Bermuda | 01 August 2019

A number of important updates to Bermuda's economic substance regime were introduced in June 2019. These include the recent enactment of the Economic Substance Amendment Act, which, among other things, excludes non-resident entities from the scope of the economic substance regime and modifies the provisions that govern the exchange of information. Further, the registrar of companies has issued guidance notes to help entities determine whether they fall within the economic substance regime.