LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA)

LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) ________________________________________________________________________________________________ 1. Background The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) was enacted in the British Virgin Islands on 31 December 2018. Its purpose is to fulfil the BVI’s commitment to ensuring the highest standards of tax governance and to ensure that…