The Crown Dependencies of Jersey, Guernsey and the Isle of Man, and the Overseas Territories of Bermuda, Cayman Islands and British Virgin Islands (collectively referred to as the CDOTs), have all introduced new legislative economic substance requirements for companies and other entities with a presence in their respective jurisdictions. The legislation has been designed to address concerns that companies could be used to artificially attract profits that are not commensurate with economic activities and substantial economic presence in the CDOTs. With this in mind, the legislation requires certain companies to demonstrate they have substance in relevant jurisdiction by: • being directed and managed in the jurisdiction • conducting core income generating activities in the jurisdiction, and • having adequate people, premises and expenditure in the jurisdiction For detailed information, see Practice Note: Economic substance legislation in the Crown Dependencies and Overseas Territories—summary. Jersey Jersey has issued the following guidance on the impact of the coronavirus (COVID-19)