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Economic Substance Entity Classification Questionnaire
Please note that this online tool in based on the draft Economic Substance Code and Guidance Notes issued by the BVI International Tax Authority (ITA) on 22 April 2019. Publication of the final Code and Guidance Notes is expected in the near future and this tool will be revised as appropriate on publication.
We recommend that you check our
regularly for any updates and if in doubt you should
to contact us.
By continuing to use this interactive entity classification questionnaire (
) you confirm that you have read, and that you accept, the following terms:
1. This Questionnaire is intended to provide general guidance for friends and clients of Appleby, but it is not intended to, nor does it, constitute formal legal advice.
2. The precise requirements of the economic substance legislation vary between jurisdictions. Any conclusion reached by this Questionnaire is specific to the jurisdiction in respect of which the Questionnaire was carried out.
3. The economic substance legislation is inherently fact-specific, and there can be no substitute for obtaining legal advice on a case-by-case basis. Any views expressed by this Questionnaire depend on your responses being accurate in all respects, which Appleby is not able to verify unless you formally instruct it to conduct an economic substance analysis.
4. This Questionnaire includes certain legal terms of art that may not bear their ordinary meaning. The correct interpretation of these terms is essential to ensuring that the analysis is accurate. For that reason, you should take legal advice on the legislation and its application to any particular Person.
5. This Questionnaire does not establish an attorney-client relationship, and Appleby does not assume any duty of care to you by making this Questionnaire available for your use. Any such relationship or duty will only come into existence if you formally instruct Appleby to conduct an economic substance analysis pursuant to a letter of engagement.
6. Any views expressed by this Questionnaire are not protected by legal advice privilege. The only way to obtain the benefit of legal advice privilege is to formally instruct Appleby pursuant to a letter of engagement.
7. These terms shall be governed by and construed in accordance with Isle of Man law, and you agree that the courts of the Isle of Man shall have exclusive jurisdiction to hear and determine any suit, action or proceedings, and to settle any disputes, which may arise out of or in connection with these terms and, for such purposes, irrevocably submit to the exclusive jurisdiction of such courts.
8. As used in these terms:
means the partnerships, limited liability companies and other entities which are for the time being authorised by Appleby Global Group LLC to carry on the business of legal practices under the Appleby name;
includes a natural person and a corporate or unincorporated body (whether or not having separate legal personality); and
means any individual who uses this Questionnaire and any Person in respect of which, or on whose behalf, such individual uses this Questionnaire.
Please check the box below to confirm that you have read and accepted the terms set out above.
Continue to the questionnaire