Updates on the Proposed EU Directive on Shell Entities - ATAD III 09/05/2024 On 17 January 2023, the EU parliament approved an amended version of the directive laying down rules to prevent the misuse of shell entities for tax purposes, the so-called Anti-Tax Avoidance Directive 3 ("ATAD 3"), which is sometimes more fittingly referred to as the 'Unshell Directive'. ATAD III memo X Linkedin weixin Messenger Authors Janice Copperstone Director – Trustee and Corporate Services jcopperstone@tridenttrust.com +356 21 434 525 Malta Marilena Stylianou Head of Financial Services mstylianou@tridenttrust.com +357 258 20 650 Cyprus Kaj Wouters Managing Director kwouters@tridenttrust.com +352 26 30 28 48 Luxembourg Bertrand Party Director - Corporate Services bparty@tridenttrust.com +352 26 30 28 48 Luxembourg Latest News Rafael Pérez Appointed as Head of Business Development for Fund Services in the United States Luxembourg Reform Introduces Deferred Share Capital for the SARL Private Limited Liability Company Changes to Barbados' Economic Substance Requirements New Economic Substance Requirements for Foreign-Source Passive Income in Panama Anguilla Introduces Special Trusts Legislation Trident Trust Celebrates 30 Years of Successful Operations in Cyprus