Last week, between 20 and 23 June 2018, a team of our corporate
service line experts attended the
2018 National Conference of the Society for Corporate
Governance.
Director, Hendrik-Jan Witsenburg, was invited to sit on a panel for a session entitled "International Subsidiary Governance". Various takeaways emerged following the panel discussion, from which we summarised the three main ones below:
1. Flight to quality in selecting local service providers due to increased complexity of regulation in EMEA
Larger global providers are best placed to deal with increasing regulatory requirements and are able to adapt to the ever changing regulatory landscape. More items appear on the corporate calendar of local subsidiaries that need to be dealt with, which can be a huge challenge for multinational corporations. Intertrust, through its Global Co-Sec solutions, is well placed to ensure that your global subsidiaries are kept in good legal standing constantly.
2. Change in services offered.
Aside from traditional corporate secretarial services, clients choose to outsource non-core services like assistance with finding office space and housing, hiring staff etc. Via its integrated office and staffing solutions Intertrust can assist clients to set up their own office in a foreign jurisdiction, whether it is to find the right location for an office or to outsource employees. We are keen to support you expanding into new foreign markets.
3. Further complexity to properly manage your SPV's due to the ever-increasing burden of regulation, and changing tax laws both at a national and international level
We notice a demand for more bespoke solutions. For instance, clients are committed to set up a more robust platform instead of using registered office services. Clients request specialty/independent directors and wish to (temporarily) hire employees. Lastly, we see an increase in in-person board meetings.
The Intertrust team thanks Society for Corporate Governance for the invitation to the panel and the opportunity to connect with valued peers, business partners and clients.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
