Offshore law firm Appleby has launched an online economic substance tool.

It comes in the form of an economic substance entity classification questionnaire and is available free of charge.

The tool was developed by the firm’s legal and regulatory specialists and aims to offer clear guidance on the economic substance regimes of Bermuda, BVI, Cayman Islands, Guernsey, the Isle of Man and Jersey.

After answering a few brief questions, individuals are first guided through a preliminary analysis as to whether or not their entity is in scope of the relevant regime.

If it is, the questionnaire will lead t...