December 2018

Jeremy Leese

The Economic Substance Act 2018 (the “Economic Substance Act”) was tabled on 7 December 2018 and, following revisions, again on 17 December 2018.

Background

In November 2017, the Government of Bermuda made a commitment to the Code of Conduct Group (Business Taxation) (the “COCG”) of the Council of the EU to address concerns relating to economic substance. Bermuda agreed to pass legislation to implement any appropriate changes by 31 December 2018 to avoid being put on an EU list of non-cooperative tax jurisdictions.

MJM Limited is pleased to announce that Senior Associates, Jennifer Haworth and Jeremy Leese will be promoted to Directors of the firm effective 1 January 2019.

The newly promoted Directors have extensive combined legal experience, in Bermuda and globally. Both Jeremy and Jennifer have been at MJM for over six years, making strong contributions to their respective practice areas of dispute resolution and corporate respectively, and to the overall growth of the firm.

Denis de Frias

On 3 December 2018, the Department of Planning released the Draft Bermuda Plan 2018 (the “Draft Plan”), which became operational on the same date. The Draft Plan details the land use zonings and policies, which the Department of Planning uses to review and assess planning...