Demystifying Economic Substance
- Where: Chamber Offices, Eagle Lab, Queen Victoria House, Douglas, Isle of Man
Starts: Tuesday, July 02, 2019 at 9:00 AM
Ends: Tuesday, July 02, 2019 at 10:00 AM
As most of you will have heard by now, complex legislation came into force in January requiring some resident companies to have “adequate substance” in the Isle of Man.
In most cases this means a requirement to be managed and directed in the Isle of Man and to have adequate resources – and conduct key activities – click here for guidance
Phil Morris of PwC and Garry Manley of Appleby will use a case study, based on a hypothetical corporate deal, to illustrate in a practical way:
- what entities are subject to the legislation
- some of the problems that come up when assessing whether an entity is “in scope”
- how to comply with the substance requirements
- the sanctions for non-compliance
This is a must-attend session for everybody involved in company administration, including directors, TCSP professionals, compliance professionals, in-house lawyers and company secretaries.