About us
As Corporate Services Experts, we specialize in navigating the complexities of entity management and compliance.
Client
Indero
Industry
Dermatological & Rheumatological Research
Jurisdiction
Germany
Project type
Company Formation, Management & Administration
Indero, a leader in dermatological and rheumatological research, sought expert guidance for their expansion into Germany. Greenfields provided comprehensive support, ensuring a smooth process marked by professionalism and quality service. This partnership led to the successful establishment of a new legal entity in Germany, minimized compliance risks, and enhanced operational efficiency.
Challenge
Indero faced the daunting task of expanding its operations across multiple jurisdictions, each with unique regulatory requirements.
This complexity introduced significant compliance challenges and potential risks, necessitating a strategic and expert approach to ensure smooth and compliant expansion.
Objectives
The primary objectives for supporting Indero in their expansion were to:
- Streamline the establishment and management of a new legal entity in Germany.
- Minimize compliance risks through meticulous planning and execution.
- Provide professional support to ensure efficient and risk-free expansion
Solution
Utilizing its deep expertise, Greenfields provided comprehensive compliance and entity management support for the German expansion.
- Detailed Planning: Thorough assessment of local regulatory requirements and administrative procedures.
- Professional Execution: Coordinated efforts with local authorities and continuous support throughout the expansion process.
- Ongoing Support: Ensuring compliance with corporate governance, handling financial transactions, and addressing specific operational needs
Implementation
Greenfields conducted comprehensive regulatory assessments and coordinated closely with local authorities to facilitate the establishment of Indero’s new legal entity in Germany.
Key implementation steps included:
Bank Account Setup
Establishing necessary financial infrastructure and process payments
Compliance Documentation
Preparing KYC and AML documents
Trade and Tax Registrations
Handling all necessary registrations and resolving related transactions
Social Security Setup
Coordinating social security arrangements to ensure operational readiness
Payroll and Governance
Facilitating payroll processes and ensuring corporate governance compliance
Results & Benefits
Reduced Compliance Risks
Mitigated potential regulatory issues through expert management.
Streamlined Processes
Enhanced operational efficiency and confidence in financial management.
Operational Readiness
Ensured smooth and compliant expansion, reinforcing Indero's position in the market.
“The professionalism and quality of service provided by Greenfields have been instrumental in our successful expansion into Germany.
Their expertise and support have made a significant difference in our operations.”
Stéphane Lussier
CPA-CMA, Chief Financial Officer, Indero.
Lessons Learned
Key lessons learned from the expansion process include:
- Thorough Planning: Essential for navigating complex regulatory environments.
- Local Regulations: Understanding and adhering to local requirements is crucial.
- Continuous Communication: Maintaining open lines of communication with regulatory bodies and
stakeholders. - Transaction Management: Promptly resolving issues and implementing flexible payment solutions
to avoid delays. - Accurate Documentation: Ensuring all documentation is precise and comprehensive for
operational readiness and compliance.
Conclusion
Greenfields’ expert support was pivotal in ensuring the smooth and compliant expansion of Indero into Germany. By providing professional and tailored services, we significantly reduced operational risks, maintained high compliance standards, and contributed to Indero’s growth and confidence in managing their operations. This case study underscores our commitment to professionalism, quality service, and client success.