Bahamian entities subject to the economic substance rules will be regarded as compliant with the 'direction and management' test if they can show that board meetings could not be held physically in the jurisdiction due to COVID-19 related travel restrictions, the country's Ministry of Finance has announced. Virtual board meetings will suffice, provided the reasons are documented by each included entity on a case-by-case basis.
News Source：【Bahamas Financial Services Board 2020/08/21】