LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, (Revised Edition 2020) as amended (ESA)
Background The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) was enacted in the British Virgin Islands on 31 December 2018 and amended by the Economic Substance (Companies and Limited Partnerships) (Amendment) Act 2021 which received its assent on 28 June 2021 and was gazetted on 29 June 2021. Its purpose is to fulfil…