Закон страна: Британские Виргинские острова; язык закона: Английский

BVI Economic substance (Companies and Limited Partnerships) Act, 2018

Закон об экономическом присутствии (компаний и ограниченных партнерств) на Британских Виргинских островах от 2018 года (самая актуальная версия – с поправками от 2019 года)

Оригинал закона

Аннотация

I Assent
(Sgd.) Augustus J U Jaspert,
Governor
20th December, 2018
 
VIRGIN ISLANDS
No. 12 of 2018
 
An Act to introduce the substantive economic substance requirements; to amend the Beneficial Ownership Secure Search System Act, 2017 (No. 24 of 2017) ("the BOSS Act") so as to impose reporting requirements and provide for matters incidental thereto.
 
[Gazetted 28th December, 2018]


 
ENACTED by the Legislature of the Virgin Islands as follows:
1.

  • (1) This Act may be cited as the Economic Substance (Companies and Limited Partnerships) Act, 2018.
  • (2) The provisions of this Act shall come into force on 1st January, 2019.
2. In this Act, unless the context otherwise requires,
  • “2017 Act” means the Beneficial Ownership Secure Search System Act, 2017;
  • “affiliate” bears the same meaning as an “affiliated company” specified in regulation 2(2) of the BVI Business Companies Regulations, 2012, modified so that references to a company include references to a limited partnership, and other expressions appropriate to companies shall be construed as including references to the corresponding persons, documents or organs, as the case may be, appropriate to limited partnerships;
  • “banking business” has the meaning specified in section 2(1) of the Banks and Trust Companies Act, 1990;  
  • “Commission” means the Financial Services Commission established under the Financial Services Commission Act, 2001;
  • “company” includes
    • (a) a company within the meaning of section 3(1) of the BVI Business Companies Act, 2004;
    • (b) a foreign company within the meaning of section 3(2) of the BVI Companies Act, 2004 which is registered under Part XI of that Act,
  • but does not include a non-resident company;
  • “competent authority” means the International Tax Authority established under section 3 of the International Authority Act of 2018;
  • “core income-generating activities” has the meaning given by section 7;
  • “Court” means the High Court;
  • “distribution and service centre business” means the business of either or both of the following
    • (a) purchasing from foreign affiliates
      • (i) component parts or materials for goods; or
      • (ii) goods ready for sale; and
      • (iii) reselling such component parts, materials or goods;
    • (b) providing services to foreign affiliates in connection with the business,
  • but does not include any activity included in any other relevant activity except holding business;
  • “economic substance requirements” shall be understood within the context of section 8;
  • “finance and leasing business” has the meaning given by section 3;
  • “financial period” is defined in section 4;  
  • “fund management business” means the conduct of an activity that requires the legal entity to hold an investment business license pursuant to section 4 and category 3 of Schedule 3 of the Securities and Investment Business Act, 2010;
  • “group” has the meaning specified in regulation 2(1) of the BVI Business Companies Regulations, 2012, modified so that references to a company include references to a limited partnership, and other expressions appropriate to companies shall be construed as including references to the corresponding persons, documents or organs, as the case may be, appropriate to limited partnerships;
  • “headquarters business” means the business of providing any of the following services to an entity in the same Group:
    • (a) the provision of senior management;
    • (b) the assumption or control of material risk for activities carried out by any of those entities in the same Group; or
    • (c) the provision of substantive advice in connection with the assumption or control of risk referred to in paragraph (b),
  • but does not include banking business, financing and leasing business, fund management business, intellectual property business, holding company business or insurance business;
  • “high risk IP legal entity” is a legal entity which carries on an intellectual property business and which
    • (a) acquired the intellectual property asset
      • (i) from an affiliate; or
      • (ii) in consideration for funding research and development by another person situated in a country or territory other than the Virgin Islands; and
    • (b) licences the intellectual property asset to one or more affiliates or otherwise generates income from the asset in consequence of activities (such as facilitating sale agreements) performed by foreign affiliates;
  • “holding business” means the business of being a pure equity holding entity;
  • “income” in respect of an intellectual property asset includes
  • (a) royalties;
  • (b) capital gains and other income from the sale of an intellectual property asset;
  • (c) income from a franchise agreement; and
  • (d) income from licensing the intangible asset;

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К данному закону имеется перевод на русский язык

Закон об экономическом присутствии (компаний и ограниченных партнерств) от 2018 года (самая актуальная версия – с поправками от 2019 года)

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economic substance Британские Виргинские Острова законодательство

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