Economic Substance Act Bermuda 2018 (ESA)
In response to the requirements of the EU Code of Conduct Group, Bermuda has passed the Economic Substance Act 2018 (ESA) which was effective 1 January 2019. Entities which may fall within the scope of the ESA should consider its impact and its potential application to their particular business and circumstances. Outsourcing core activities in Bermuda will be acceptable in some cases.
We can provide advice and assistance to ensure that your Bermuda entity complies with the economic substance requirements.
ESA 2018 Bermuda (updates)