Insights
Jurisdiction Update
The Cayman Islands introduced economic substance legislation through the International Tax Co-operation (Economic Substance) Act to align with international standards on tax transparency and corporate governance. The framework requires certain entities conducting defined business activities to demonstrate adequate economic presence within the Cayman Islands.
The Cayman Islands is widely recognised as an established international financial centre supported by a sophisticated regulatory framework and a stable legal system. Financial services represent a core sector of the jurisdiction’s economy, with the Cayman Islands providing a legal environment used for international investment structures and corporate vehicles.
The Cayman Islands is widely recognised as a major international business centre supported by a stable legal system and a well-established regulatory framework. One defining feature of the jurisdiction is that the Cayman Islands does not impose direct taxes such as corporate income tax, personal income tax, capital gains tax, or withholding tax.
Economic substance has become a more clearly defined compliance topic in Seychelles. The Seychelles Revenue Commission states that changes applying from 16 September 2021 adopted a revised approach for covered companies, including an economic substance test for passive income received from a non-resident.
Articles
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Events
One IBC Singapore is pleased to announce its relocation to a new office, marking a significant milestone in our continuous growth and commitment to providing exceptional support to businesses worldwide.
One IBC® or One IBC Group operates with a registered international trademark under number 1542968.
ONE IBC USA, Inc., a business unit of One IBC ® Group, is pleased to announce the relocation of its office to a larger and more modern space at Suite 915, 19900 MacArthur Boulevard, Irvine, California 92612, USA.