Neil Henderson on Economic Substance Doctrine

Bermuda – Economic Substance Declaration Filings – May 2024 Alert

The Economic Substance Act 2018 (the “Act”)1 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...more

6/10/2024 / Bermuda , Business Entities , Companies Act , Economic Substance Doctrine , Filing Deadlines , Filing Requirements , Fund Management Companies , Non-Residents , Registration Requirement

Bermuda – Economic Substance Declaration Filings – June 2023 Alert

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

6/1/2023 / Beneficial Owner , Bermuda , Business Entities , Companies Act , Economic Substance Doctrine , Filing Deadlines , Filing Requirements , Fund Management Companies , Non-Residents , Registration Requirement

Bermuda Economic Substance Declaration Filings—February 2023 Alert

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

2/15/2023 / Beneficial Owner , Bermuda , Business Entities , Companies Act , Economic Substance Doctrine , Filing Deadlines , Filing Requirements , Fund Management Companies , Non-Residents , Registration Requirement

Filing Extension for Economic Substance Declarations for In-scope Entities Which Earned No Gross Revenue

The Bermuda Registrar of Companies (the “Registrar”) issued an industry notice on 17 August 2022 confirming that changes required to address certain system errors within the Registrar’s Online Register Portal (the “Portal”)...more

8/19/2022 / Bermuda , Business Entities , Compliance , Economic Substance Doctrine , Filing Deadlines , Filing Requirements , Registration Requirement

Economic Substance – Extension of the Scope of the Relevant Activity of “Fund Management”

The Economic Substance Amendment (No.2) Regulations 2021 (the “Amendment Regulations”) were enacted on 23 December 2021, making certain changes to the Economic Substance Regulations 2018, principally to amend the definition...more

3/30/2022 / Amended Regulation , Bermuda , Economic Substance Doctrine , Fund Managers , Investment Funds , Time Extensions

Bermuda - Economic Substance Declaration Filings - 2022 Alert

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...more

3/29/2022 / Bermuda , Business Entities , Economic Presence Nexus , Economic Substance Doctrine , Filing Deadlines , Filing Requirements , Registration Requirement

Economic Substance Requirements to Apply to ALL Bermuda Partnerships

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

7/19/2021 / Bermuda , British Virgin Islands , Business Entities , Cayman Islands , Channel Islands , Corporate Governance , Economic Substance Doctrine , Partnerships

Neil Henderson

Conyers

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