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ESP 2

ESP facilitates the secure and efficient transfer of beneficial owner information throughout the custody chain, ensuring account holders receive the appropriate withholding tax rate. 

SERVICE OFFERING

ESP for depositaries

Depositary banks offer depositary receipt holders the opportunity to recover over-withheld taxes on foreign investment income. Coordinating receipt of data and documentation to support international tax recovery can be complicated, requiring both expertise in filing requirements and technology to standardize incoming information.

WHAT WE DO

Coordinate with DTCC to develop Important Notices

Validate information from DTCC Participants

Allocate funds from local agents across accounts

BENEFITS OF ESP

Cost Savings

ESP helps depositaries avoid in-house tax processing expenses

Risk Reduction

The team monitors changing market requirements and offers audit support

Governance

Monthly reporting ensures that all contractual requirements are met

Updates

GlobeTax's Recovery Roundup newsletter communicates key market changes

ESP for dtc participants

Because every market has unique rules, rates, and processes, many financial institutions struggle to help investor clients meet the ever-changing administrative requirements and receive their tax entitlements.

WHAT WE DO

Provide a portal for generating pre-populated documents and uploading data

Validate incoming information to ensure it meets all market requirements

Answer questions and follow-up with Participants when errors are identified

Generate CA Web breakdown elections for Participants for Relief at Source and Quick Refund claims

BENEFITS OF ESP

Client Satisfaction

Differentiate your firm by maximizing client portfolio performance

Minimize Expense

Features like Bulk Upload let users submit reclaims for 50,000 beneficial owners

Governance

Real-time reports provide the status of claims, payments, and events

MIDAS®

GlobeTax’s MIDAS® service manages  documentation and elections for Participants seeking more support

ESP for Transfer Agents

Working on behalf of issuers, transfer agents are responsible for identifying and tracking registered shareholders and beneficial owners to ensure tax is withheld at appropriate rates. Collecting and verifying this information from shareholders -- while managing the ever-changing rules and requirements --  is a time-consuming and expensive task.

WHAT WE DO

Work with market agents to determine requirements

Distribute Important Notices to communicate requirements

Collect shareholder information and documentation

BENEFITS OF ESP

Cost Savings

Transfer Agents need not perform the service in-house, minimizing expenses

Risk Reduction

The team monitors changing market requirements to ensure all information is up-to-date

Governance

Monthly reporting ensures that all contractual requirements are met

Updates

GlobeTax's Recovery Roundup newsletter communicates key market changes

ESP for issuers

By ensuring shareholders receive the maximum return on investment through cross-border tax relief or recovery, issuers can retain existing shareholders and generate new interest in their shares. Understanding entitlement opportunities and establishing recovery process is time-consuming and administratively burdensome.

To support issuers, we liaise with the withholding agent, relevant tax authorities, and local market intermediaries to establish relief and recovery processes.

BENEFITS OF ESP

Cost Reduction

Issuers can avoid spending time and money to coordinate difficult processes

Shareholder Satisfaction

Tax recovery increases ROI, incentivizing investors to favor your securities

WHY ESP?

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TRUSTED PARTNER

Authorities in France, Japan, Korea, Mexico, Russia, Switzerland, and more have trusted GlobeTax to help establish processes to facilitate tax recovery
ESP

INDUSTRY-LEADING TECHNOLOGY

GlobeTax’s ESP was the first to offer bulk upload in all markets, real-time reports, customizable administration, and more
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POWERHOUSE SUPPORT TEAM

GlobeTax’s experts stay up-to-date with changing regulations and answer every question via helpdesk, phone, and email 
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ALIGNED INCENTIVES

Our business model incentivizes proactivity. We ensure users are claiming all eligible positions and providing all required documentation

ESP is a secure platform for the collection of investor data and documentation. View full Fact Sheet: ESP