Using a global subsidiary management solution to fulfill corporate secretarial obligations for your worldwide entity portfolio
When your business is global, it’s critical to maintain compliance in all the jurisdictions where you do business. The following three step process will both simplify and centralize international compliance, providing peace of mind that required rules and regulations that vary by jurisdiction are being met
Step one: The international compliance corporate health check
A corporate health check should be an initial one-time audit report prepared for each of your global entities that:
- Determines the good standing status of your global entity portfolio.
- Identifies gaps and deficiencies (such as missed filings) as well as the remediation steps that will be necessary to return each entity to full compliance.
- Enables future compliance events to be scheduled.
Step two: Annual compliance support
This core service should include the statutory-required filings that keep the entity portfolio in compliance.
This typically includes the maintenance of shareholder registers and minute books, preparation and filing of annual general meeting documents or reports (in dual language if applicable), or equivalent as appropriate by jurisdiction.
For ease of budgeting, it’s convenient if these standard filings can be charged at a fixed price in your home currency, managed by a customer service team with a designated project manager working in your time zone, speaking your language.
Step three: Entity management system
Once a corporate health check is complete, it’s important to store and manage all the produced data and documents—as well as those similarly generated by an annual compliance support service—together with future compliance events and deadlines into a trusted and secure entity management system.
Users should have secure, permission-based access, meaning administrators can grant edit or read-only access to specific segments within the entity management system, down to a granular level of detail, providing full transparency to your subsidiary information for those who need to know.
The entity management system serves both to simplify as well as centralize your global governance data.
Having this data in one easily accessible repository will make completing annual jurisdiction obligations much more straightforward, and streamline the entire process. Ultimately, this will assist in keeping your business in international compliance.
Stay compliant using CSC’s Global Subsidiary Management solution
CSC’s GSM solution helps your business stay on top of its international compliance responsibilities around the world, easily and efficiently. Learn more about our Global Subsidiary Management solution here.
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