HSP Overseas Direct®

HSP Overseas Direct® offers an entry strategy to countries around the globe at predictable costs from a single provider. This signature fixed-price service is a turnkey method for setting up and managing the normal recurring finance, compliance and administrative activities related to the operations of overseas subsidiaries. A one-time fee covers project assessment and entity set-up and registrations. Fixed fees then cover international payrolls and payroll taxes, monthly accounting preparation, local statutory financial statement filings, audit requirements as well as compliance with local income tax and VAT/GST (or equivalent) tax filings. Monthly reporting packages include balance sheet, P&L, trial balance, general ledger detail, cash and other account reconciliations and, if applicable, an inter-company service invoice.

Here’s a snapshot of how OSD works:

One-Time

• Identify the Local Service Providers (LSPs) needed at the outset of the engagement.
• Identify most appropriate entity structure and complete the establishment process

Monthly

• Communicate and interface regularly with the LSPs regarding engagement and compliance registrations
• Oversee the monthly management of the LSPs
• Payroll and Bookkeeping management services in-country Cash management services
• Preparation and review of financial statements compliant with local requirements
• Completion of management accounts
• Completion of VAT returns
• Preparation of monthly inter-company invoices as required with the parent company (typically the US company)
• Monthly funding of the entity

Quarterly / Annual

• Conduct quarterly face to face meetings with the HQ Finance team
• Complete and file annual payroll filings
• Complete annual corporate tax returns
• Prepare and file statutory accounts and year end financial statements including audit as required