Programme Management Assurance and Executive Support Services
Case study 1:
Re-domestication of a Holding Co. from the British Virgin Islands to The Netherlands

The challenge

Determine best relocation for the Holding Company of a global Insurance firm with large operating company structures across international territories to improve its' reputation and enhance the legal and compliance position without increasing the global effective tax rate.

The process
  • LMD worked with the client to consider and compare alternative locations in a logical and considered manner with "big 4" consultants in each of the most likely jurisdictions.
  • LMD worked with internal legal counsel and external legal advisors to plan out the method and process for transferring the Holding Company.
  • LMD project managed the entire process leading up to and organising the first meeting of the Board of the Holding Company in The Netherlands in 2010.
The outcome

The Board endorsed the decision to move to The Netherlands and the legal transfer was completed on time and within budget. The Board continue to meet in Holland each second quarter and positive feedback has since been received from shareholders and customers regarding the new location. On the back of this change, the firm has recently refurbished an iconic Amsterdam building for the registered office of the global headquarters.

The testimonial

"LMD played a crucial role in assessing the competing assessments for the best location for the holding company in part due to their own experiences of working for the "big 4". LMD worked well with all of the functional teams including external legal parties to implement the move in a timely manner. They were also retained to organise the Board meetings in Holland for our Board of Directors, many of whom had never travelled to The Netherlands before."

- Executive project sponsor.