In the context of the economic substance legislation, you need to firstly know whether your entity is conducting “relevant activities”. According to the European Union, there are nine such “relevant activities”, covering a broad range of industries and businesses. Further, depending on your entity type, the extent of substance required will also vary.
In the fifth video of the series, Simon Filmer, Global Lead, Company Formation, and Michael Thomas, Global Head of Information Reporting Services, break down what “relevant activities” are.
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