Economic Substance legislation being introduced in key offshore jurisdictions was the topic of a seminar conducted on 5 July 2019 by Newhaven Hong Kong in conjunction with CPA Australia. Well known and highly accomplished international lawyer and industry expert, Mr. Richard Grasby, Principal of RDG Fiduciary Services Limited, shared insights on the latest developments occurring in BVI and Cayman Islands together with guidance on the interpretation of the new laws as well as reporting requirements. A keen question and answer session was indicative of the level of interest and concern surrounding these new regulatory requirements, and highlighted for participants some potential solutions to various issues on economic substance with which they, or their, clients may be grappling.

You can find here Mr. Grasby's recent article "Economic Substance Changes for Private Clients", in which he examines issues which, while not unique to that industry sector, will be of particular interest to private clients and those advising them.