We offer a global network of services to guide and support “export-focused” companies in the launching of their own branches abroad – from forming a local company, through business strategy, planning and administration, to establishing a full sales function within the foreign subsidiary.
SERVICES OF INTERGEST WORLDWIDE
- Comprehensive marekt information
- Local presence in Singapore, Malaysia, Vietnam and Brunei
- Support in setting up a distribution structure
- Support in building up a sales force and payroll service
- Personnel recruitment
- HR management
- VAT management
- Bookkeeping and accounting
- Debt collection
- Specialist advice and expertise on the South East Asian market since 2007
- One-stop shop for all services, custom-tailored to the respective corporate philosophy
- Internationally experienced partners (many of whom speak German) and employees
- Clearly defined responsibilities, reliability and adherence to schedules
- Collaborative style of partnership
We handle all formalities for our clients when they wish to set up a new branch or subsidiary
abroad, or to establish additional ones.
In order to ensure that the foreign operation has the right support from day one, our
- Experienced multilingual staff who, in addition to their national language, usually speak English and German, and deal with all office work, including bookkeeping and accounting
- An officially accredited accounting division under the direction of professionally certified accountants and tax advisors
- An experienced team of professionals for all specialised fields of international commerce, trade and banking
- Modern offices in the business centres of Singapore, Kuala Lumpur and Ho Chi Minh City with state-ofthe-art office communication and IT systems
- Comprehensive invoicing and bookkeeping services, sales and inventory statistics, profit calculations, agents’ commission processing, and payroll service
At InterGest our service offering includes the full range of administrative tasks required for the efficient operation of a foreign entity, subsidiary, branch or holding company, covering financial, controlling and human resources management.
In the initial phase we carry out an in-depth analysis of the most suitable legal and fiscal setup for your foreign business entity. We then assist you in forming the foreign company and in establishing the organisational structure that meets your company’s particular needs. In the the third phase, InterGest takes on fiduciary responsibility by carrying out all administrative tasks and requirements. Our clients have access to the latest figures and processes at any time.
Despite years of striving to establish internationally accepted accounting standards, almost every country still has its own legal requirements which need to be adhered to consistently, not only when filing annual tax returns.
Generally, larger corporations tend to follow US-GAAP or IFRS procedures within their companies in order to manage the consolidation of their international businesses as smoothly as possible.
InterGest is fully conversant with both requirements and will manage your bookkeeping according to your general corporate requirements as well as according to local accounting standards. Providing two annual statements, for example one according to IFRS and one according to local requirements, is par for the course for us.
CONTROLLING AND REPORTING
Anyone who entrusts the management of their foreign business to someone else is justified in expecting absolute transparency when it comes to business reporting.
We provide customised reporting for companies which do not use SAP. Whether you prefer to use your own MIS software or to receive Excel files, whether you want periodic reporting or would rather log in via a VPN link to obtain your corporate financial information directly – at InterGest we will provide you with the solution of your choice.
We provide the following services in detail:
- Periodic overview of all company accounts in each country in the local currency or any other currency, as required
- Regular regional overview of all accounts in all foreign branches in one currency throughout, according to user requirements (consolidated reporting)
- Country specific and regional budgeting as well as P&L comparisons
- Periodic cost accounting with financial statements
The HR services offered by InterGest include much more than reliable, timely completion of salary payments according to local statutory requirements. On your behalf, we will take care of drawing up local employment contracts and will assist you in employment termination proceedings according to the latest local legal requirements. We will manage expense accounts and use our local know-how when it comes to dealing with local authorities and insurance questions.
We also provide support with:
- Calculating and deducting social security payments
- Managing employee registration procedures
- Managing health and accident insurance payments
- Transparent regional reporting
In general, clients in foreign markets expect to be treated differently than those in our home markets. Different countries have different payment terms, in some locations forms of payment that we would consider old-fashioned – such as bills of exchange – are accepted. Of course no-one considers it necessary to adapt their payment terms to suit those of the foreign service provider.
Usually companies prefer to handle credit control centrally via their head office. When using a central ERP system with inventory management, this appears at first glance to be the most effective and efficient method. And yet it brings with it also the need for debt recovery and collection procedures. There is no other area of the business where more client sensitivity is called for than in debt recovery: in some countries reminders are sent within two weeks, while in others no written reminders are ever sent at all. Here the acceptable process is to simply call and remind tardy clients of their overdue balances.
It is our responsibility to bring our clients‘ liquidity requirements in line with the payment policies of their clients abroad. There are various ways to achieve this: factoring or invoice discounting are only two possibilities of many. We will tailor the right solution for your needs.
An increasingly globalised world economy not only offers opportunities, but also puts traditional business models to the test. It is therefore essential to reflect on your own market situation and to identify strengths and weaknesses in order to increase the efficiency of your company. This is exactly where our strategy consulting comes in and aims to make your company more capable of acting and to prepare it specifically for the market changes in your segment. InterGest will support you in this.
In contrast to financial accounting, there are no worldwide standards for payroll. Each country has its own system of taxes and various levies such as social security, pension fund or health insurance. This is also due to the fact that there is practically no IT system that is able to carry out payroll accounting in different countries due to the same programming.
At InterGest, we therefore offer not only competent local payroll services, but also cross-border elaborations that make different payroll systems comparable and thus transparent.
Hardly any area of company administration is more challenging from a tax point of view than dealing with cross-border VAT issues. Not only does practically every country have its own VAT system with different tax rates, but the question of where the VAT liability arises also raises considerable questions. Especially in the case of frequently existing triangular transactions across more than one national border, even experienced tax experts are often at the end of their wisdom.
InterGest draws its expertise in this regard from its many years of experience in cross-border trade in goods and services as well as from the highly competent InterGest partners involved in this area, for whom VAT issues are part of everyday business.
Our range of services is strong and comprehensive, but we have equally strong partners who complement it in a very helpful way. That is why we have entered into cooperation agreements with them, so that we can support our clients beyond our own capabilities if necessary.
We maintain close contact and lively exchange with our cooperation partners in order to recognise the needs of our customers with them and to adapt to them together.