The European Union imposed requirements on jurisdictions with low or no taxation, to enact legislation that would provide for economic substance for companies wanting to benefit from being incorporated in those jurisdictions.

A Legal Entity Identifier (“LEI”) is a 20 digit alpha-numeric code assigned to legal entities to identify them on a global basis.

Captive insurance companies are a form of self insurance. Any organization with a good risk management programme that feels that its insurance premiums are too high, may benefit from setting up a captive.