HSP OverseasDirect®

HSP OverseasDirect® offers an entry strategy to countries around the globe at predictable costs from a single provider. This signature fixed-price service is a turnkey method for setting up and managing the normal recurring finance, compliance and administrative activities related to the operations of overseas subsidiaries. A one-time fee covers project assessment and payroll and accounting set-up and registrations. Fixed fees then cover international payrolls and payroll taxes, monthly accounting preparation, local statutory financial statement filings, audit requirements as well as compliance with local income tax and VAT/GST (or equivalent) tax filings. Monthly reporting packages include balance sheet, P&L, trial balance, transaction detail, cash and other account reconciliations and, if applicable, an inter-company service invoice.

All OsD engagements include two accounts on High Street Partners' custom client portal HSP OverseasConnect. 

Here’s a snapshot of how OsD works:

Initial kick-off

• Assess needs and requirements by country
• Set up required accounting and payroll records, systems and files
• Transition systems from any existing providers

Monthly Deliverables

• Communicate and interface regularly with client and any involved providers regarding engagement and compliance registrations
• Oversee the monthly management of any local providers 
• Provide payroll, Bookkeeping, and Cash management services in-country
• Prepare and review of financial statements compliant with local requirements
• Complete management accounts
• Complete VAT returns
• Prepare monthly inter-company invoices as required with the parent company (typically the US company)
• Fund the entity

Quarterly / Annual Deliverables

• Conduct quarterly meetings with the HQ Finance team
• Complete and file annual payroll filings
• Complete annual corporate tax returns
• Prepare and file statutory accounts and year end financial statements including audit as required