Vistra, a corporate service provider of international incorporations, trust, fiduciary, private office, international expansion and fund administration services, has acquired Global Expandia, a Jakarta based firm providing market entry and other related services to foreign-owned investors operating in Indonesia.
This acquisition adds to Vistra’s growing global footprint for International Expansion services by establishing a presence in Indonesia, the largest economy in Southeast Asia, which is an attractive market for local and foreign businesses.
Established in 2014, Global Expandia has built a reputation as a one stop solution for foreign companies making direct investments into Indonesia, offering a comprehensive service portfolio across company formation, tax compliance, accounting, bookkeeping, payroll and work permits. The team of 17 led by founders Miguel Latorre and Elsye Yaw will join Vistra, with Miguel becoming Managing Director of Vistra’s International Expansion division in Indonesia.
Announcing the acquisition, Vincent Bremmer (pictured), Group Managing Director of International Expansion at Vistra, says: “Indonesia has emerged as one of the leading jurisdictions in Asia for international companies to expand into. Globally, it is the fourth most populous nation with a young labour force; representing a key market for Vistra as we strengthen our Southeast Asian business.
“The acquisition of Global Expandia will not only grow our network, but it will also prove beneficial for our existing businesses in Singapore, Hong Kong and China where we have clients already operating within Indonesia or with plans to do so. Miguel and Elsye have successfully built and grown Global Expandia and their ongoing leadership is important to ensure our Indonesian business continues along the same growth trajectory. Their expertise will be integral to our growth in the region. Our Vistra Singapore team has already built a strong working relationship with Miguel and Elsye, and both now have the opportunity to better serve our clients with a broad and innovative set of services.”
Vistra was advised on the transaction by Foulger Underwood.
Miguel Latorre, co-founder of Global Expandia, adds: “This acquisition is a fantastic opportunity for all of us at Global Expandia, and is also a reflection of the work our team has done in making our company a major provider in Indonesia for supporting foreign investment. Vistra will provide us with the platform to attract new foreign clients to Indonesia through their extensive global network. This is a breakthrough step for all of us and we are excited to continue growing with Vistra.”
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