Since its introduction in 2019, the BVI Economic Substance Law affects many BVI companies, requiring them to establish relevant and adequate local economic substance. Click here to read more.
Many affected BVI companies are still struggling to comply with the implementation of adequate substance elements in the BVI.
Further, by way of an update, the BVI International Tax Authority (ITA) has recently started to check the economic substance status of various BVI companies based on their substance related filings for the period 2019-2020.
Available offices and other elements
It is being reminded that Totalserve Trust Company Limited has, since the introduction of this law, arranged to offer a variety of substance related elements in the BVI that can help affected and other companies to enhance their local substance. Specifically, Totalserve offers own office rooms or office spaces for rent, other related office facilities as well as director services and part-time administrative employees in the BVI
Further, Totalserve assists with the relevant annual economic substance reportings, which all BVI registered companies must do.
You may click here to download our relevant office and related facilities brochure.