LUXEMBOURG Presentation: 2014, China...New York • Dallas • Toronto • Hong Kong • Shanghai...
Transcript of LUXEMBOURG Presentation: 2014, China...New York • Dallas • Toronto • Hong Kong • Shanghai...
LUXEMBOURGPresentation: May 2014, China Desk
INDEX
Index
1. Orangefield Group Profile
2. Orangefield Luxembourg Profile and China Desk
Index
3. Orangefield Luxembourg Key Business Lines
4. Key Contacts
5 A5. Annexes
• General Services
• Fund Services
• Intellectual Property Services
• Substance & Independent Director Services
• Real Estate Services
• Private Clients Services
• Digital Office
• KYC Requirements
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands22
INTRODUCTION
1. Orangefield Group Key Data
• Orangefield is an independent global service provider with nearly 40 years of experience providing bespoke financial services to corporate, institutional & private wealth clients
1. Orangefield Group Key Data
• Orangefield was formed following an MBO of ING Trust and in 2007 we saw the build out of our Global Administration Platform which focuses on providing integrated administrative services to complex investment fund structures operating in multiple jurisdictions
• Our highly skilled teams support top‐tier Wealth Managers, Family Offices, Multinationals and Real Estate and Private Equity managers
• Over USD 28bn assets and 6,000 SPVs under administration
• Operating with 29 offices in 19 countries worldwide supported by more than 500 professionals
• Orangefield is ISAE 3402 compliant and audited by Group audit and an independent international audit firm
• ESG policy and high internal ethics (FCPA, UK Bribery act compliant, Orangefield code of conduct)ESG policy and high internal ethics (FCPA, UK Bribery act compliant, Orangefield code of conduct)
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands33
Orangefield Group Office LocationsINTRODUCTION
United Kingdom The Netherlands
Luxembourg Germany
Spain
Toronto
New York
AustriaBeijing
Aruba Curacao
British Virgin Islands
CyprusMaltaSpain
Hong Kong
ShanghaiDallas
Singapore
MauritiusMauritiusSouth Africa
São Paulo
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands4
2. Orangefield Luxembourg Key Data
INTRODUCTION
2. Orangefield Luxembourg Key Data
• Currently 80 employees
• Business Centre in Luxembourg‐city with fully equipped offices, meeting rooms, reception services and IT support
• Qualified accountants (ACCA,CPA) and lawyers, English, Dutch, French, German, Chinese, Italian, Spanish, Luxembourgish and Russian native speakers
• Dedicated China Desk with highly motivated and experienced professionals
• Extensive experience with Luxembourg financing instruments PEC, CPEC, PPL and MRPS
C stod major banks incl ding Bank of China ICBC CBC ING BIL RBS and etc• Custody – major banks including Bank of China, ICBC, CBC, ING, BIL, RBS and etc.
• Close collaboration with China Desk of leading law firms and tax advisors
• Licensed Professional du Secteur Financier (‘PSF’)
• CSSF licensed ‘Administrateur d’OPC’
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands5
2. Orangefield Luxembourg China Desk
INTRODUCTION
g gOur dedicated China Desk has extensive experiencein the Chinese market, addresses all of the needs ofclients throughout different structures, from theregulated fund level through multiple SPV layers to
After discussing the individual needs of eachclient, our China Desk will liaise with specialistdepartments across the Orangefield network to
regulated fund level through multiple SPV layers tothe ultimate operational company level in all of our19 different locations.
Orangefield has been servicing Chinese clients for
identify the best solutions based on thespecifications or objectives, ensuring a seamlessservice process from start to finish.
W k i l ti ith ll l l dg g
many years and we have 3 offices in China,including Hong Kong, Shanghai and Beijing in orderto be close to our clients. We are very proud to saythat our Chinese clients are prominent players
We work in close cooperation with all legal andtax advisors ensuring that cross borderstructuring is carried out in full awareness ofexisting legal and cultural differences.
that our Chinese clients are prominent playersdoing business in a wide range of fields such asmultinationals, real estate and private equity.
Chinese clients will have one dedicated Chinese large enoughChinese clients will have one dedicated Chinesespeaking contact person who has expert knowledgeas well as a thorough understanding of thechallenges Chinese clients face when establishingth i t t
...large enoughto succeed,
small enoughto be personal
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands6
their structures. to be personal
INTRODUCTION
3. Orangefield Luxembourg Key Business Linesg g y
General ServicesLegal Administration, Management and Domiciliation, Accounting and Reporting
(Annex 1)( )
Fund /Securitisation Services(Annex 2)
Real Estate Services(A 3)
Private ClientsServices(A 4)
IP Services(Annex 5)
Substance Services(Annex 6 &7)
(Annex 2) (Annex 3) (Annex 4)
Umbrella SICAV‐SIF Strategic Real Estate Management
Estate Planning IP Assets Management
Independent Director
Front and Middle Office S i
Operational Real Estate M t
Asset Protection IP Centralization T h l
Employment ServicesServices Management Technology
Corporate Secretarial Controlling and Reporting Services
IP Company Administration
Business Center
Compliance Floor Space Management Digital Office
Risk Management Facility Management Compliance Monitoring
Management of SPVs
Regulatory and Financial
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands7
Reporting
INTRODUCTION
4. Key Contacts
Onno Bouwmeister, Managing Director • tel: +352 49 67 67 9861• email: [email protected]
Sissi Zhao, Head of China Desk• tel: +352 49 67 67 4419 • email: [email protected] @ g
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands88
| SERVICES
Annex 1: Key Business Lines General Services
ANNEX
Annex 1: Key Business Lines General ServicesRegistered Address• A business address in the right place and a local contact number answered in your
k ll th diff i
Accounting Services• Keeping of the books and records.• Preparation of statutory accounts in local GAAP d IFRS i li ith ificompany name can make all the difference in
business. Our professional teams will manage your calls and handle your mail.
M t S i
GAAP and IFRS in line with specific requirements in the industry.
• Management of audit timetable.• Monthly, quarterly or (semi) annual reporting.Fili t t t t d t tManagement Services
• Provision of local qualified directors with specific industry knowledge and limited mandates per director.
• Filing statutory accounts and tax returns.
Cash Management Services• Smooth opening of a bank account and
ll i f KYC d h d dCorporate Secretarial Services• Corporate secretarial support and maintaining corporate records.All l l/ li i h b
collection of KYC documents where needed.• Daily monitoring of bank movements.• Preparation and executing of payment orders.• Review documents related to the payment
f• All legal/compliance services that may be required in relation to the company (statutory general meeting, board meeting and filings).
• Assistance in the day to day operational i i i if d h i d b i
transfers.
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands9
activities on an if and when required basis.
ANNEX
Annex 2: Key Business Lines Fund ServicesAnnex 2: Key Business Lines Fund Services
Front Office Services• Real‐time P&L
l i d i
Corporate Secretarial• Working in conjunction with l l l bli h
Compliance Services• Fund & corporate compliance
i h l l l• Real‐time trade processing• Daily position, P&L and activity reporting
• Position monitoringd
legal counsel to establish legal entities
• Transfer, issue and/or merger of shares/ units and maintain
with local regulatory requirements
• Continual review & monitoring of internal
d l• Post execution trade capture
Middle Office Services• Trade capture• Trade position and cash
corporate register• Statutory filings with the local regulator
• Drafting, executing and
procedures & controls• KYC & AML compliance• Compliance reviews of fund documentation
Trade, position and cash reconciliations
• Administrator to investment manager reconciliation
• Trade
legalisation of corporate documents/ agreements
• Convening & taking of minutes/ drafting of
Risk Management• Monthly Risk Oversight Committee meetings
• Preparation of bespoke risk• Trade affirmation/confirmation
• Daily listed instrument and OTC independent pricing
• Daily P&L reconciliation
resolutions at shareholder and board of directors’ level
• Dissolutions & liquidations
• Preparation of bespoke risk reporting matrices
• Monitoring of KPIs and risk indicators
• Regular client review
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands10
• Daily P&L reconciliation • Regular client review meetings
10
ANNEX
Annex 3: Key Business Lines Real Estate Services
Strategic Real Estate Management • Planning, building, construction management• Determine scope of project and site survey
Operational Real Estate Management • Lease and tenant management• Property and letting accounting
Annex 3: Key Business Lines Real Estate Services
Determine scope of project and site survey• Preparing budgets / cost calculations• Local compliance check• Assign and monitor contractor• Ongoing quality control and project progress
Property and letting accounting• Monthly, quarterly and annual accounts according to the landlord’s individual requirements
• Preparation of all reports for banks auditors and• Ongoing quality control and project progress reports
• Reinstatement, modernisation, refurbishment• Energy‐saving and conversion measures• Quality & deficiencies management and pursuit
• Preparation of all reports for banks, auditors and tax accountants
• Cost management and budgeting• Claims management• Performance management• Quality & deficiencies management and pursuit
of warranty claims• Real estate consulting (research, analysis, strategy)
• Due diligence support
• Performance management• Centre management• Technical property management• Subcontractor coordination• Working on client EDP systems (if requested)• Due diligence support
• Fully digital archive for key documents• Working on client EDP systems (if requested)
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1111
ANNEX
Annex 3: Key Business Lines Real Estate Services (cont’d)Controlling and Reporting Services• Property condition and status
Floor Space Management• Active planning, preparation and management of all letting
Facility Management• Technical building services• General inspection of
Annex 3: Key Business Lines Real Estate Services (cont d)
Property condition and status reports
• Location development reports• Maintenance measures reports
g gactivities
• Letting handovers and returns• Floor space optimization• Development of property
pproperties
• Energy management• Minor maintenance and repair workreports
• Letting status updates• Cash flow planning and projections
• Outstanding items lists
p p p yinvestment strategies
• Qualitative and quantitative portfolio analyses
• Optimization of the tenancy
p• Janitorial services• Supply and waste management
• Landscaping and gardeningOutstanding items lists • Legal issues reports• Information on discussions with tenants
• Complaints management
Optimization of the tenancy situation and general tenancy management
• Reduce occupancy costs and manage occupant density
Landscaping and gardening services
• Front desk and security services
• Cleaning servicesComplaints management • Overview of insurance matters and losses
• Ongoing general issues
manage occupant density• Identify, analyse and reduce vacancies and develop customised leasing strategies
• Support with the buying and
Cleaning services• Conference room catering
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1212
Support with the buying and selling process
ANNEX
A 4 K B i Li P i t Cli t S iAnnex 4: Key Business Lines Private Clients Services
Estate Planning• Various estate planning solutions • Formation of trust, foundation or private investment company • Management and administration servicesto the structures
Asset Protection• setting up structures with lifestyle assets like yachts, planes and art • Management and administration services to the structures • Registration of assets in favourable jurisdictions• Registration of assets in favourable jurisdictions
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1313
ANNEX
Annex 5: Key Business Lines Intellectual Property ServicesAnnex 5: Key Business Lines Intellectual Property Services
IP Assets Management• Domain Names, New TLDs, TrademarksDomain Names, New TLDs, Trademarks• Registration, Recovery• Audit & surveillance
IP Centralization Technology• IP Asset Management platform• Domain name Management platform• E‐reputation & Brand monitoring
IP Company AdministrationIP Company Administration• IP Company creation in Luxembourg• Administration of IP companies• IP qualified directors• IP qualified (part time) employees• IP qualified (part‐time) employees
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1414
ANNEX
Annex 6: Orangefield Services SubstanceAnnex 6: Orangefield Services Substance
Independent Director Services (IDS)• Provide experienced, knowledgeable i d d t di t ith ti l f
Customized Office Package – Business Center• Short to mid term office lease at various l tiindependent directors, with a particular focus
on alternative investment funds, SPVs and property companies
• Essential Duties and ResponsibilitiesA di B d M i
locations.• Dedicated Business Centre in Luxembourg‐city (separate from the Orangefield office) with fully equipped offices, meeting rooms, reception
i d IT• Attending Board Meetings• Reviewing Board minutes• Reviewing transactions and financial statements of the company
h h h ld h h
services and IT support • Fully or partly furnished. • Registration and set up dedicated phone and fax line.
d d• Assisting the shareholder with the organization of the company
Employment Services• Provision of qualified part time employees to
k h l ll
• Registering internet domain names and setting up email accounts.
• Arranging office and corporate stationary • Automatic redirecting e‐mail and telephone.
work on the client company pay roll.• Appointment and dismissal guaranteed without HR and labor issues for our clients.
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1515
| SERVICES
Annex 6: Orangefield Services Independent Director Services
ANNEX
Annex 6: Orangefield Services Independent Director ServicesOrangefield Independent Director Services• Our experienced professionals provide director services on a highly discretionary basis to a range of entities with a particular focus on
Essential Duties and Responsibilities• Act as Director or Manager or member of the Supervisory Board of the company.
• Attending Board Meetings reviewing Boardrange of entities, with a particular focus on alternative investment funds, SPVs and property companies.
• Our independent directors are easily accessible and ready to fulfil their duties when serving as
• Attending Board Meetings, reviewing Board minutes, and, if necessary amend.
• Reviewing transactions and financial statements of the company.
• Reviewing and execute promptly any documentand ready to fulfil their duties when serving as independent director for your company.
• Our advanced IT infrastructure includes the use of smart phones, laptops and secure remote email access meaning that our principals are
• Reviewing and execute promptly any document required in the capacity of director or manager of the company.
• Preparing for, attending and taking an active role in the Annual General Meeting and anyemail access, meaning that our principals are
able to engage fully with clients at all times in all time zones even whilst travelling outside of Luxembourg.All i d d t di t d b
role in the Annual General Meeting and any Extraordinary General Meetings of shareholders of the company.
• Assisting the shareholder with the organization f th b i i th A ti l f• All our independent directors are covered by
professional indemnity (PI) insurance of the company, by reviewing the Articles of Association, ensuring the timely execution of related documents and meetings.
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands16
ANNEX
Annex 7: Orangefield Services Digital OfficeAnnex 7: Orangefield Services Digital Office
Digital Office & Compliance Monitoring• Virtual data room specifically designed for the
f C l l d i
• Accessible on a worldwide basis 24/7• Download functionality in PDF formath // fi ld /di i l ffistorage of Corporate legal documentation:
• Financial reporting• Local tax records• Board reporting
• http://www.orangefield.com/digitaloffice
• Investor reporting• Monitoring of corporate compliance & statutory filing requirements
• Secure corporate and fund structure charts available
• Data room held on a secure platform with defined user rights
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1717
ANNEX
Annex 8: Orangefield Services KYC RequirementsAnnex 8: Orangefield Services KYC RequirementsKYC steps:• Determining full scope of the Luxembourg operational mandate and corresponding fees• Finalising services agreement and collection of KYC documents• Introducing dedicated Orangefield support team• Developing reporting schedules and ongoing timetables
Background information required, including:g q , g• A structure chart of the planned structure showing the shareholder path all the way up to the Ultimate Beneficial Owners (‘UBOs’). UBOs are defined as shareholders/investors holding –directly or indirectly – more than 10% of the assets (or voting rights)
• Certified copy passport/ID card of all external directors co‐managing with Luxembourg directors,py p p g g g• Short overview of planned transaction and cash flows, • Service Agreement in relation to the services Orangefield will provide (Domiciliation & Management Services Agreement).
Based on our understanding of Chinese system and our China network, we are able to keep the KYC procedure smooth and efficient.
Amsterdam • Rotterdam • Eemnes • Berlin • Hannover • Frankfurt • Munich • Vienna • London • Barcelona • Malta • Cyprus • Luxembourg • New York • Dallas • Toronto • Hong Kong • Shanghai • Singapore • Johannesburg • Mauritius • Aruba • Curaçao • British Virgin Islands1818