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Cayman Economic Substance - Bell Rock Group

By: Issuewire

Grand Cayman, May 11, 2019 (Issuewire.com) - Legislation in the Cayman Islands requires certain entities that are incorporated or registered and which conduct one or more of a set list of relevant activities to comply with local substance requirements known as 'economic substance'. 

The following specifically defined activities are considered relevant activities and relevant entities must comply with the economic substance rules in the relevant jurisdiction:

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

In order to help our clients to determine whether or not they are required to comply with economic substance requirements and to help them do so, we can perform a full review of your entities to determine and advise on all aspects of compliance with substance legislation and, where appropriate, what actions must be taken.  

For clients that do need to establish and demonstrate substance in the Cayman Islands we are perfectly positioned to provide bespoke and integrated legal and administrative solutions. We provide a full suite of governance, resident director and accounting services, and can work with you to obtain trade licences, work permits, premises, specialist equipment, or dedicated human resources. 

If you believe that you manage or own an entity that may be affected by substance rules based on the nature of its operations, please contact one of the key contacts below.

Director Services

Bell Rock Group offers director services to companies in the Cayman Islands. Our professional directors have a strong track record of executing complex, successful corporate strategies on behalf of our clients. We combine a pro-active approach with leading technology to provide exceptional results for our clients.

Our expertise includes regulations, accounting, auditing, fiduciary services, and risk management available in each jurisdiction. That means we can take care of anything from authorizing payments to approving company agreements with third parties. Your director can also approve annual financial statements and open bank accounts to remove the burden of day-to-day operations for you. We also ensure your entity meets new economic substance requirements in the Cayman Islands, including directors' obligations.

Bell Rock Group is at the forefront of executing industry best practices for offshore director services.

Contact us for further information: info@bellrockgroup.com | www.bellrockgroup.com

Media Contact

Bell Rock Group

info@bellrockgroup.com

1-345-949-4850

https://bellrockgroup.com/

Source :Bell Rock Group

PDF Version : issuewire.com/pdf/2019/05/cayman-economic-substance-bell-rock-group-IssueWire.pdf

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