Multinational companies are constantly striving for efficiency and compliance but the prospect of changing corporate service providers can often be a daunting one, filled with concerns about a painful exit process.
Ocorian believes that it doesn't have to be this way.
We recently conducted research, reaching out to 100 corporate lawyers, company secretaries, and general counsels across the UK, France, Germany, Italy, The Netherlands, Sweden, Switzerland, and Denmark. The results revealed that all respondents relied on third-party providers for at least some of their entity management obligations, showcasing a growing trend in outsourcing.
From the results of this survey, we produced a report that aims to address your concerns, guiding you through the process of deciding when and why to switch, and, most importantly, how to do it seamlessly.
How to smoothly transition corporate service providers
Multinational corporations are grappling with an increasingly complex web of global, bilateral, and local regulations. The spotlight on tax avoidance has resulted in heightened demands for anti-money laundering (AML) and know your customer (KYC) compliance. As a result, legal teams find themselves juggling the task of ensuring entities meet current compliance standards while keeping an eye on the horizon for upcoming regulatory changes. To alleviate this burden, many general counsels are turning to external providers for assistance.
In 2023, the question isn't whether to outsource, but what to outsource and to whom. The landscape is evolving, with outsourcing shifting from low-value, high-volume work to encompassing high-value fiduciary activities such as providing expert directors and AML officers, along with other compliance and substance roles.
However, when considering switching to a new corporate service provider, concerns and frustrations inevitably arise. According to the respondents in our survey:
Our report addresses three critical considerations:
1. Why outsource entity management?
Discover the benefits of outsourcing and how it can enhance your organisation's efficiency and compliance.
2. Debunking the barriers to switching corporate service providers
Overcome common obstacles that might be holding your organisation back from making a change.
3. Why choose Ocorian for your corporate services?
Explore the advantages of partnering with Ocorian for your corporate service needs, from expert corporate administration to proactive compliance planning.
Ocorian’s corporate services
At Ocorian, we offer a comprehensive range of corporate services to establish, administer, and provide substance to legal structures worldwide. Our dedicated corporate administration teams possess in-depth knowledge of statutory and regulatory requirements across our jurisdictions, ensuring your organisation not only meets compliance requirements but also stays ahead of future changes.
Download your free copy of our report today
Switching to a new corporate service provider doesn't have to be a painful process.
With our insights and guidance, you can make informed decisions to reduce the burden of international corporate administration and unlock the benefits of a smoother transition.
Discover how Ocorian can be your trusted partner when navigating the complexities of corporate services support in the ever-changing global business landscape.