With our global network of companies, purposefully located in the most important financial centers available in today's markets, we can establish, organize and manage corporations in an unparalleled choice of jurisdictions. For those with multi-jurisdictional structures, our International Subsidiary Management Team is able to provide a unique "one-point-of-contact" umbrella service for corporate secretarial actions, which means that multinational clients can more easily coordinate their international holdings to ensure compliance with all local requirements, while being assured of the highest level of service, regardless of the jurisdiction.
Whether it is for fiscal structuring, or other international structuring requirements, our global network of offices and team of experienced professionals is able to provide full corporate domiciliary and management services, fiduciary management and accounting and legal support services, no matter which jurisdiction is chosen and always at the same high level of quality our clients have come to expect.
The global reach of our companies offers multinational clients the flexibility to structure their cross-border investments, from a selection of the most important financial centers available in today's markets – including both offshore and onshore jurisdictions. Our Multinational Client Team has the products and the knowledge to work with you and your customers, to help establish, organize and manage group structures, to ensure that exposure to taxation and other fiscal duties on dividends, intra-group interest, royalties and trading profits, is minimized.
And our unique "one-point-of-contact" umbrella service for corporate secretarial actions and other domiciliary services, means that multinational clients can more easily coordinate their international holdings while being assured of the highest level of service, regardless of the jurisdiction chosen.
Whether multinational companies need to comply with today's global standards of corporate governance as a matter of best practices, or as in the case of U.S. listed companies in the post SARBANES-OXLEY era, need to meet statutory obligations, the Citco Group of Companies are ready to assist its clients in meeting the challenges of today's regulatory environment.
Any multinational company that needs a single dedicated partner to manage its portfolio of foreign subsidiaries can rely on our companies to support its office network around the world with corporate secretarial or bookkeeping services. Certainly in cases where field offices of multinationals need local experts to assist with secretarial or accounting services, or where such offices need to be outsourced to a specialist firm, Citco will pro-actively deliver services to meet the expectations of each client.
We typically assign a dedicated team of experienced staff members to our clients that will coordinate all matters with respect to your international subsidiaries, so continuity and quality of service are guaranteed. By offering this so-called "one-point-of-contact" approach to our Fortune 500 clients, we can create real efficiencies, ensuring the smooth and uninterrupted management of the business operations of our clients.
All Citco staff members who would be the primary contacts of our Fortune 500 clients hold a law, CPA or equivalent degree. Our staff therefore understands the needs of and can effectively communicate with multinational company representatives and their professional advisors around the world.
This is actually one of the most attractive parts of our services offering to multinational corporate clients. We have created a dedicated unit to periodically or on an ad hoc basis (in case of special projects) chart the global network of subsidiaries for our clients and verify whether these are in good legal standing. In cases where subsidiaries are not in good standing under the laws of their "home jurisdiction", we can assist with remedial action. The Corporate Health Check (CHC) beholds the following features:
The above-mentioned features will be presented in a conveniently arranged and user friendly format, enabling the client to get good sight on the status of its international subsidiaries.
Citco Group Companies can provide tailor made bookkeeping services worldwide to suit specific accounting needs of Fortune 500 clients. In order to meet today's global accounting and reporting requirements, we support multinational companies with integrated bookkeeping services for all their International Subsidiaries. Whether financials need to be prepared in accordance with local accounting standards, consolidated at the level of holding companies or translated into US GAAP or IFRS for reporting purposes, Citco companies deliver a customized service to meet the specific bookkeeping needs of any multinational corporate client.
This ensures consistency of financial reporting for all International Subsidiaries of its corporate clients. Financial and management reporting are delivered in real time to facilitate the global operations of our clients. By designing client specific protocols and procedures, we will prepare financial statements including the corresponding management reports, explanatory notes and related documents tailored to the needs of each client.
The process to register a branch office in a foreign jurisdiction to another can be very lengthy and cumbersome. These branch registrations tend to be document heavy and require you to work with multiple parties, jurisdictions, languages, and time-zones. Citco companies will coordinate matters by liaising with the company's corporate secretary and/or in-house counsel, the outside advisors, local counsel and/or government agencies in the country where the branch needs to be registered; ensuring that this is done in a timely and cost efficient manner.
Since multinational companies constantly expand globally and open offices in countries where they do not yet have an office presence, they will benefit from our worldwide office support. Citco Group companies can assist with the set up of and ongoing office support to field offices of multinational corporations. New offices can be incubated at one of our office locations where we will handle corporate formation as well as –post incorporation- provide dedicated office space, staff, payroll and bookkeeping services.
Our specialists around the world can assist corporate clients in many scenarios where temporary office support is required, such as temporary staffing, provision of dedicated office space (on a permanent or ad hoc basis for board meetings, presentations etc.). By outsourcing administrative functions, office maintenance or searches, travel and hotel arrangements to us, your international staff can –certainly in countries where you maintain relatively small offices- focus on their core responsibilities and rely on the support services of our specialists.
Multinational companies often go through periodic exercises evaluating to what extent affiliates need to be maintained or eliminated. With the increased costs of global filing requirements for public companies, it makes economic sense to eliminate entities that no longer serve any business purpose. However, each foreign jurisdiction has its own set of rules most often making it burdensome to dissolve (or liquidate) affiliated companies.
Also public companies may want to merge rather than dissolve (or liquidate) entities as part of a corporate reorganization and can benefit from our advice and assistance in these matters. Experience tells us that mergers and liquidations are document driven and are not always handled with the required sense of priority by our clients and their advisors. Citco Group companies will ensure that entity dissolution and mergers are handled in the same dedicated and pro-active way as the other services that we provide to multinational corporate clients.
To find out more about our Multinational Clients Services, please contact us.
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