Guernsey, Jersey and Isle of Man published a joint guide to economic presence

06.05.2019 On April 26, 2019 Guernsey, Jersey and Isle of Man released a joint guide to economic presence (“Guidance on aspects in relation to the economic substance requirements as issued by Guernsey, Isle of Man and Jersey”).
The rules on economic presence cover that companies which are tax residents of the relevant jurisdictions (Guernsey, Jersey, or the Isle of Man) and receive income from activities such as:

•Banking;
• Insurance;
• Shipping business;
• Financing and leasing;
• Holding activities.

The companies engaged in the above mentioned activities are required to comply with the legal requirements for economic presence:

• Management and control of the company should be carried out in the country of registration of the company;
• The company must have a sufficient number of employees in the territory of the country;
• The company must have a real office in the country of registration.

On materials off the following website: https://www.gov.im/media/1365807/economic-substance-guidance-joint-guernsey-isle-of-man-and-jersey-2...