Sunday 16 June 2019
Select a region

Conference to focus on new substance law

Conference to focus on new substance law

Wednesday 22 May 2019

Conference to focus on new substance law


The hot topic of Jersey's new Economic Substance Law, which aims to tackle shell companies, will be the central focus of a conference taking place next month.

Organised by BPP, the fourth Real Estate and Real Estate Funds conference will be taking place at the Radisson Hotel on 18 June and will provide insight and predictions from over 10 industry experts from Jersey and the UK.

Sophie Reguengo, an investment funds and regulatory lawyer at Ogier, will be covering the subject of 'Substance for real estate fund managers'.

Finance_industry_European_flag.jpg

Pictured: The Economic Substance Law was introduced following pressure from EU Finance Ministers.

The Economic Substance Law was introduced last year to ensure that the island cannot be used as a base for 'shell' companies facilitating tax dodging following pressure from EU Finance Ministers.

“Fund managers are in scope for the purposes of Jersey's new substance law, meaning Jersey fund managers need to comply with the new substance requirementswith effect from 1 January 2019, if they generate gross income from managing the fund," she commented.

"Compliance includes demonstrating that the fund manager is directed and managed in Jersey and also its core income generating activities in the Island.  Failure to do so risks suffering progressive sanctions such as financial penalties, disclosure and striking off from the register.”

The event will also welcome economist Dr Desné Masie, who specialises in regulation, innovation and policy, and Amanda Clack, Head of Strategic Advisory at CBRE.

Sign up to newsletter

 

Comments

Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

Once your comment has been submitted, it won’t appear immediately. There is no need to submit it more than once. Comments are published at the discretion of Bailiwick Publishing, and will include your username.

There are no comments for this article.

To place a comment please login

You have landed on the Bailiwick Express website, however it appears you are based in . Would you like to stay on the site, or visit the site?