Economic Substance Declaration Filings – May 2026

The Bermuda Economic Substance Regime (comprising the recently amended Economic Substance Act 2018 (the “Act”) and the Economic Substance Regulations 2018 (the “Regulations”) now 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 Economic Substance Declaration Form (a “Declaration Form”) with the Bermuda Corporate Income Tax Agency (the “Agency”). Such Declaration Forms must be filed annually, within six months of the last day of the entity’s financial year. Bermuda-based entities which are in-scope of the Act and have a financial year-end of 31 December 2025 are reminded that they are required to file their Declaration Forms by 30 June 2026.