Economic Substance Act Guidance
BVI Limited Companies are required to provide an annual economic substance declaration to stay compliant.
All entities registered in the British Virgin Islands are required to do an annual economic substance declaration to comply with the BVI Economic Substance Act. The declaration is done by filling out the BVI ESA form which you can download from the Entity Maintenance section in our dashboard.
The main purpose of the form is to establish whether your entity have economic substance within the BVI and whether it caries out relevant activities.
Relevant activities are:
- Banking business
- Insurance business
- Fund management business
- Financing and leasing business
- Headquarters business
- Shipping business
- Holding business
- Intellectual property business
- Distribution and service center business
If your entity does not carry out any of the listed relevant activities, you can check that option under question 1.
From there you can move forward to question 9 where the business activities can be filled out.
After filling out all the business activities the declaration can be finalized and signed at question 18.
Uploading the document to the dashboard
Once the form is filled and signed, the document can be uploaded to the Otonomos Dashboard in the Entity Maintenance section.
Our team will go over the submitted document and make sure it's filed to keep your entity in good standing.
Updated 1 day ago