Transfer of shares in Chinese subsidiary
One of our clients is a Dutch holding company that wished to transfer a number of its foreign subsidiaries to another group company. These subsidiaries include companies in China, the UK and Korea. Client has been using local accountants in these countries over the past years.
It was client’s desire to restructure the shareholdings in the subsidiaries in a short time frame. Given client’s experience with the language skills of his local Chinese accountant, client feared that completing the formalities in relation to the transfer of the Chinese shares could take more time than intended.
Therefore, client asked us if we were able to assist. In that respect we introduced our client to our old friends of TGS Nortex. TGS Nortex has been our TGS global member firm in Shanghai as from the start of the network in 2012. Their tax advisers managed to take care of all legal and fiscal paperwork in very limited time and with excellent (english) communication skills. This made our client very happy.