Harneys Economic Substance Classification Solution

Harneys’ Economic Substance online classification solution provides a cost effective way for BVI companies and limited partnerships with legal personality to demonstrate formally that they have considered their position under the economic substance legislation. The automated classification solution provides tailored real-time legal advice, provided by Harneys, for a flat fee.

Highlights of the ES Classification Solution

  • User friendly interactive and intuitive online questionnaire
  • Real time classification results
  • Flat fee per entity
  • Legal advice designed by Harneys’ expert lawyers
  • PDF output in the form of a legal memorandum of advice to help prepare the entity and its registered agent for compliance and reporting obligations

Timing

We strongly advise that entities move to classify themselves as soon as possible. The first reporting period has already started for every relevant entity.

If you would like to get started on your entity classification please click HERE.
If you would like more information on the Classification Solution please click here.

Application to limited partnerships

Broadly, limited partnerships without separate legal personality are not subject to the BVI economic substance legislation and so should not complete this online solution. If you are unsure whether your limited partnership has separate legal personality, we recommend that you consult with your BVI registered agent or email our BVI team at bvieconomicsubstance@harneys.com for a consultation with an individual lawyer.

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