British Virgin Island Economic Substance Services

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Presented by

• British Virgin Island Economic Substance Services

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Organization for Economic Cooperation and
Development
European Union List of Non-Cooperative
Jurisdictions for Tax Purposes
Around the same time, the European Union (EU)
developed and published a blacklist of
non-cooperative jurisdictions with the aim of
identifying BEPS offenders. To be removed from
the blacklist jurisdictions had to undergo reform
and implement changes to their taxation policies.
The OECD is an international organization which
seeks to build better policies for better lives.
It aims to shape policies that foster prosperity,
equality, opportunity, and well-being for all.
Membership includes over 135 countries.
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British Virgin Islands Economic Substance
(Companies and Limited Partnerships) Act 2018
In response to the OECD BEPS action plan and the
EU List of Non-Cooperative Jurisdictions, the
British Virgin Islands (BVI) passed the Economic
Substance (Companies and Limited Partnerships)
Act 2018 (ESA) which became effective January 1,
2019.
Under the ESA 'legal entities' carrying on a
relevant activity' are required to establish
economic substance in the BVI. A legal entity is
a business company or limited partnership with
legal personality which includes foreign
companies and foreign limited partnerships that
are registered in the British Virgin Islands.
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Relevant Activities
Legal entities which carry on any one or more of
the following relevant activities will be in
scope and must comply with BVI economic substance
requirements

• Banking business
• Distribution and service centre business
• Financing and leasing business
• Fund management business
• Headquarters business
• Holding business
• Insurance business
• Intellectual property business
• Shipping business

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CCP Financial Consultants Limited CCP Financial
Consultants Limited is a BVI based,
multidisciplinary financial services firm
dedicated to providing premium financial
solutions to clients around the world. It offers
Company Management, BVI Licenced Insolvency
Services, BVI Ship Registration, Accounting
Services, BVI Voluntary Liquidation Services,
Bank Account Opening Service and Economic
Substance Services.
CCP has teamed with leading industry
professionals to offer a comprehensive online BVI
Economic Substance Assessment Platform which you
can use to determine the status of your company
as it relates to ESA and whether you need to
comply.
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Contact us
CCP financial consultants limited E-mail
mail_at_ccpbvi.com Website ccpbvi.com Ph. no. 1
[phone]
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