Bell Rock glossary
Relevant Entity
An entity within the scope of the Cayman economic substance regime that may need to satisfy the substance test.
A relevant entity is an entity that falls within the scope of the economic substance regime and must, if it carries on a relevant activity, satisfy the economic substance test. The definition captures many Cayman companies, LLCs and partnerships, with certain carve-outs; for example, entities that are tax resident outside the Cayman Islands, and investment funds, are treated distinctly. Determining relevant-entity status is the first step in any economic substance analysis.
Related guidance
Economic Substance Return · Economic Substance Notification
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