Providing local directors

The Covid-19 crisis continues to impact business in general, especially the running of business entities in foreign countries, either nearshore or offshore.

In many cases, such foreign entities are subject to lockdown measures or limitation measures by local governments. The secretarial staff has to work from home; senior management may become incapacitated, suffer from the virus, in quarantine, may have to stay abroad, not allowed to travel. Overall, the impact is enormous.

But business has to continue, management decisions have to be taken and documented, deadlines have to be met, and proper governance must be ensured. Various clients are asking us to provide local directors and secretarial support as a professional back-up plan.

Amicorp can offer you various services that will ensure the continued and seamless execution of your business. We can support you by:

• Providing local directors to operating companies in multiple markets in many continents and languages. These are either personal directors or corporate directors based out of approximately 30 countries, both onshore, nearshore, and offshore. Such directors can operate either in the same jurisdiction as the respective entities or in a nearby country.

• Organizing board meetings or work out resolutions based on the Power of Attorneys (POA). As an alternative to directors, we provide POA holders. For example, if Spain or Cyprus is in lockdown, an Amicorp director in the Netherlands or Malta can execute transactions as a Proxy. The same in Latin America or Asia locations.

• Supporting your day-to-day business operations and business expansion abroad, providing the economic substance that may be required under local regimes or tax treaty application.

• Supporting the continuation of bookkeeping, accounting, preparation of financial statements, provide corporate and secretarial support services.

• Many local tax authorities have announced tax measures to support local businesses suffering from the Covid-19 crisis. These can be a reduction of tax rates, compensation to employees or contractors, deadline extensions, amongst others. We are following tax measures in over 30 countries and can support you in providing information on tax measures announced in some specific countries.

We are pleased to provide you more details upon request. Please contact:

Eric Boes - e.boes@amicorp.com Hanno de Vriend - h.devriend@amicorp.com Debashish Dasgupta - d.dasgupta@amicorp.com Derk Scheltema - d.scheltema@amicorp.com