FROM Caystone
Economic Substance/Beneficial Owner Update
It has been a busy period of transformation in The Bahamas with the enactment of the (a) Commercial Entities (Substance Requirements) Act 2018, (b) the Register of Beneficial Act (“ROBO”), 2018 and the (c) Investment Funds Act, 2019 among others. These laws are focused on tax residency of key commercial businesses, appropriate, secure and controlled access to beneficial owner information to enable valid law enforcement enquiries and good governance of the securities markets.
Client UpdateSeptember 14, 2020
FROM Caystone
Update to The Investment Funds Act
An important update was made to our Investment Funds Act in February 2020. This act was a key element to securing confirmation from the European Union (“EU) that Bahamas structures meet the EU “Economic Substance” requirements.
Client UpdateAugust 22, 2020