To establish if the British Virgin Islands (the "BVI") economic substance requirements will apply to an entity in respect of any financial year (commencing in 2019 or later), please answer the questions in the panel below.

This tool has been developed in response to the Virgin Islands Economic Substance (Companies and Limited Partnerships) Act, 2018 (the "BVI Law") and the draft Economic Substance Code, issued by the BVI International Tax Authority (the "ITA") in April 2019. It is therefore subject to changes when the regulations, the form of annual return and any further guidance or supporting legislation are published. This tool is intended to be used as a quick reference guide only, and is not a substitute for professional advice.

For advice on any specific circumstances, or to understand what your economic substance requirements are in the BVI, please contact a member of our BVI economic substance team.