Following the EU Code of Conduct Group's confirmation that the new legislative regimes introduced in Guernsey and Jersey have satisfied the requirements in relation to Economic Substance, the focus is now on implementation. Companies incorporated and tax resident in these jurisdictions should now assess whether they are compliant with the legislation, and if not, what changes are needed in order to be compliant.
We are ideally placed to assist clients with an initial assessment and have been developing a tool which will help to easily identify if an entity is in scope based on the legislation. Following the assessment we can then work with clients to create bespoke solutions which include access to office space, administration services and corporate governance solutions. These are complemented by our established corporate, funds and private wealth service offering.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.