Vistra enhances Asia service

Trust and fiduciary service provider, Vistra, has acquired Cynosure, a specialist corporate services provider focused on the establishment of Wholly Foreign Owned Enterprises (WFOEs) in China.

WFOEs are generally used by foreign companies wishing to set up businesses in mainland China and this acquisition will broaden the range of services Vistra can offer.

Typically a WFOE set-up can take from 2 to 5 months, as the process is both complex and requires extensive approvals by the PRC Government and local authorities. Once established, Cynosure  can provide other business services such as accounting, payroll, company secretarial support and the preparation and lodging of government returns.

Vistra Chief Executive Martin Crawford adds, “Cynosure’s skill set complements Vistra’s activity locally in China but also importantly across Europe. We are anticipating growth via business referrals from our European and Asian intermediary networks as well as from Cynosure’s relationships with their existing clients.

www.vistra.com