Feature: Substance requirements and economic permanent residency in The Bahamas

Kevin A. C. Moree, partner at McKinney Bancroft & Hughes, discusses the residency rules governing entities' qualification to be registered in The Bahamas. The Commercial Entities (Substance Requirements) Act As in many other jurisdictions, The Bahamas now has substance requirements legislation in the form of the Commercial Entities (Substance Requirements) Act ("CESRA") which came into force on 31 December, 2018. The general purpose of substance requirements legislation is to ensure that entities are engaged in real economic activity in the jurisdiction they are deemed to be resident...