Niamh Lalor
Partner | Legal
Jersey
Niamh Lalor
Partner
Jersey
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Economic Substance
Our cross-service line teams advise on all aspects of compliance with economic substance regulations, including full structure reviews, ongoing compliance issues and implications for outsourcing arrangements.
International financial centres including BVI, Cayman, Guernsey and Jersey have all introduced economic substance requirements.
Our lawyers are able to advise clients in relation to their companies in each of our relevant jurisdictions and across service lines - as companies may carry out more than one relevant economic activity - offering expertise in relation to the implications for holding companies, investment funds and fund managers, banks, insurance businesses and companies carrying on financing and leasing business.
For clients that do need to establish and demonstrate economic substance in the islands, our economic substance specialists provide clear guidance to assist in determining the appropriate level of measures to be taken.
Our corporate and fiduciary business, Ogier Global, provides support services including local resident directors, board support, physical presence, and administrative support, including a packaged service for special case entities capable of carrying on CIGA at the board level and suited to a moderate presence on the islands.
For entities suited to more enhanced presence, we provide local support in obtaining trade licences, work permits, premises, service providers or dedicated human resources.Â
Substance services
We advise on:
- full structural reviews in the context of economic substance requirements
- application of relevant economic substance legislation
- complying with economic substance legislation including:
- advising directors in relation to the direction and management test
- core income generating activities
- outsourcing
- adequate record-keeping
- directors' obligations
- end of year filing requirements and certifications
- premises and persons requirements
- transaction monitoring and reporting requirements
- application of Guidance Notes
- analysis of existing business models for compliance with economic substance legislation
- ongoing compliance requirements
For clients that do need to establish and demonstrate economic substance, we can provide:
- local resident directors
- board support
- physical presence
- administrative support
For entities suited to more enhanced presence, we provide:
- local support in obtaining trade licences
- work permits
- premises
- service providers
- dedicated human resources
Key contacts
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Tim Clipstone
Partner | Legal
British Virgin Islands, Guernsey
Tim Clipstone
Partner
British Virgin Islands, Guernsey
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Nick Rogers
Partner | Legal
Cayman Islands
Nick Rogers
Partner
Cayman Islands
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Nathan Powell
Partner 合伙人 | Legal
Hong Kong
Nathan Powell
Partner 合伙人
Hong Kong
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Simon Schilder
Partner | Legal
British Virgin Islands
Simon Schilder
Partner
British Virgin Islands
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Monique Adams
Managing Director, BVI, Ogier Global | Corporate and Fiduciary
British Virgin Islands
Monique Adams
Managing Director, BVI, Ogier Global
British Virgin Islands
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Ben Gillooly
Director | Corporate and Fiduciary
Cayman Islands
Ben Gillooly
Director
Cayman Islands
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Graham Gurney
Group Chief Operating Officer, Ogier Global | Corporate and Fiduciary
Jersey
Graham Gurney
Group Chief Operating Officer, Ogier Global
Jersey
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Donna Laverty
Operations Director, Channel Islands | Corporate and Fiduciary
Jersey
Donna Laverty
Operations Director, Channel Islands
Jersey
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Our team
News and insights
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6 December 2023 | 19 minutes
Podcast E1 - Why are US multinationals choosing Ireland?
Podcast
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25 October 2023 | 1 min read
Ogier's growing Corporate team in Ireland recognised in IFLR1000 2023
Sharon Meaney
Team: Dominic Conlon, Edon Byrnes, Oisín McLoughlin , Aaron Kelly
Ireland
News
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18 October 2023 | 3 min read
Snapshot: Economic substance considerations for Sharia-compliant structures in the Cayman Islands
Marcus Hallan
Team: Dominic Athwal, Martin Byers, Richard Bennett
Cayman Islands
Insight
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17 April 2023
BVI economic substance: new clarification on tax residency status for BVI entities administered in Channel Islands and Isle of Man
Simon Schilder
Team: Emily Haithwaite, Marie-Claire Fudge, Tim Clipstone
British Virgin Islands, Guernsey, Jersey
Insight
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2 March 2023
The economic substance requirements for Jersey resident partnerships
Emily Haithwaite
Team: Niamh Lalor, Matthew Shaxson, James Fox, Alex Fisher
Jersey
Insight
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1 January 2023 | 1 min read
Refresher on Irish IP holding regime and substance requirements
Dominic Conlon
Ireland
Insight
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14 December 2022 | 1 min read
Two Ogier team members sworn in as Advocates in Guernsey
Christopher Jones
Team: Diana Rodriguez, Michael Rogers
Guernsey
News
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20 December 2021
Investment funds specialist Matt McManus joins Ogier in Jersey
Matt McManus
Team: Niamh Lalor
Jersey
News
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11 November 2021 | 1 min read
Ogier "the Rolls Royce firm in the BVI" in Legal 500 Caribbean Guide 2022
Nicholas Brookes
Team: Nicholas Burkill, Michael Killourhy, Brian Lacy, Simon Schilder, David Welford, Marie-Claire Fudge, and 3 more
British Virgin Islands
News
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