Comprehensive support to owners and management of companies in the property development sector

24.6.2013

picture

Back to list

Pointing out potential economies of scale, identifying the inefficient parts of the corporate structure.

Introduction

For the important property developer SEKYRA Group (SG) we provided comprehensive support to the company’s owners and management as part of APOGEO Group’s complete service portfolio in the areas of tax and accounting consulting, auditing services, establishing and administering companies and the services of a committee of experts.

"The team of professionals with whom we started to co-operate in 2011 gradually covered the majority of the comprehensive requirements of our group. From the onset of our relationship, the consultants at APOGEO won me over with their professionalism and unbreakable resolve to find new and enduring solutions that would bring tangible results in real time. Last but not least, what I admire about APOGEO is their ability to stably provide services of an international quality, and - no less stably - within a Czech price range."

Ondřej Valenta, CFO Sekyra Group

Progress of the job

"One part of the services provided involved conducting analyses and a limited review of business partners in the Netherlands, Cyprus, Jersey and other jurisdictions, during which time we provided a service that included addressing external entities who could provide legal consultation."

Vítězslav Hruška, partner, APOGEO Group

  • Tax and transaction consultancy (APOGEO, s.r.o.)

    As part of the SG project we provided special consultancy during the management of the client’s structure using direct taxation and successfully solved the complicated claim for the return of excess VAT payment, gave assistance during negotiations with the authority in the process of resolving doubts and during tax inspections.

    For a client whose general operations have an international structure, a key aspect of our services is management consultation in preparing, planning and executing financial transactions with an international dimension, methodological controls and managing the accounting of Czech entities alongside flexible supervision and tax consultancy.

  • Auditing services (APOGEO Audit, s.r.o.)

    APOGEO’s expert team provided services comprising methodological guidance, preparation for the verification of the groups consolidated financial statements, a financial and accounting limited review of the settlement agreement with a major Czech bank as well as a statutory audit of the company to meet its statutory obligations.

  • Trust fund services (SMART Office & Companies, s.r.o.)

    On behalf of SG, we assumed control over the administration and management of the companies and after much consideration, we significantly slimmed down the structure of these companies in over ten different international jurisdictions, and we assumed not only formal administration, but also vendor management - in particular with respect to checking provided performance and payment. In the context of the aforementioned consultancy, we identified for our client SG economies of scale and the inefficient parts of the corporate structure which we had assumed; these parts are now being wound up under a controlled procedure. In the case of certain companies, we supported SG in outsourcing the accounting of Czech and international entities. For the Cypriot companies, we also provided the client with a nominal service, i.e. staffing statutory organs to ensure the client’s effective control over company assets.

Benefits

Our services saved the company SG substantial costs which would otherwise have gone towards individually inquiring for partial services. We saved them time and money because much less had to be spent on the requirements of pre-acquisition consultancy.

The client’s current costs are only approx. 15% of the original amount spent on administering the original structure; meanwhile, this structure continues to bring in similar benefits and revenues.

Thanks to APOGEO’s consultancy, individual companies and persons within the client’s structure now devote themselves to key projects and essential parts of processes that bring added value for the owners and the group’s top management.

Sign up for our newsletter

Our website use cookies for better user experience. Using this website you agree with Terms of use. Read more