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Non-resident entities will be required to provide sufficient evidence to the Registrar of Companies to support their tax residence in a jurisdiction outside Bermuda.

Further to our Alert of 30 December which outlined recent important amendments to Bermuda's Economic Substance legislation, we are now pleased to provide a more detailed Memorandum on Bermuda's economic substance regime, ...

Any entity claiming to be tax resident outside Bermuda will be required to provide relevant information to the Registrar of Companies to support its claim.

The European Council has removed Bermuda from Annex II of its list of non-cooperative jurisdictions for tax purposes (sometimes referred to as the EU Tax Grey List).

Our last quarterly update on the developments of the economic substance regimes in the British Virgin Islands, the Cayman Islands and Bermuda related largely to reporting procedures and deadlines...

New regulations in Bermuda, the British Virgin Islands (BVI) and the Cayman Islands came into force at the start of 2019

Continuing its ongoing commitment to the development and maintenance of the very highest standards of economic and financial propriety.

The Economic Substance Amendment Act 2019 became operative on 28 June 2019. Bermuda Managing Partner Tim Faries and Partner Sally Penrose outline the latest developments in Bermuda's Economic

The Economic Substance Act and the Economic Substance Regulations became operative on 31 December 2018 to address concerns raised by the European Union (EU)

In Bermuda, our most popular posts and publications brought you insight into our Corporate practice, along with regulatory updates, reflections on trust disputes and immigration news.

Today marked a significant milestone in Bermuda's economic substance regime with the launch of the Economic Substance Declaration (ESD) portal by the Registrar of Companies (ROC).

The Registrar will determine whether or not the applicable substance requirements are met, based on the information provided by the relevant entity.

Bermuda's economic substance regime has been brought into closer alignment with the regimes implemented by other jurisdictions named in the European Union's Code of Conduct Group's call in 2018 for substance laws.

The Bermuda Economic Substance Regime has undergone significant administrative changes with the transfer of oversight from the Registrar of Companies to the Bermuda Corporate Income Tax Agency. Entities with a December 31, 2025 financial year-end face a June 30, 2026 filing deadline for their Economic Substance Declaration Forms, with new enforcement powers and penalty structures now in effect.

The most keenly felt effect on a personal level may be in relation to individuals and their ability to live and work in Europe.

The latest move by the European Union to address perceived harmful tax practices takes the form of imposing economic substance requirements on international financial centres (IFCs).

This year will see a return to growth for the ILS market, with a range of new products helping clients manage new risks more effectively, according to Brad Adderley, partner at Appleby.