Important Bermuda economic substance update – March 2021

The Bermuda Registrar of Companies (the “Registrar”) has implemented a number of changes in relation to the Economic Substance Act 2018, the Economic Substance Regulations 2018 (each as amended) and the related Guidance Notes issued by the Minister of Finance on 18 September 2020, which entities should take into consideration in advance of filing their economic substance declaration for the 2019-2020 relevant financial period.

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