Vistra Corporate Services

Vistra Corporate Services

Can you describe your business?

Vistra is a corporate service provider employing nearly 5,000 professionals around the globe. The company provides expert advisory and administrative support to Fund, Corporate, Capital Market and Private Wealth clients; helping capital flow, protecting investors and safeguarding assets across multiple industries. We are here to seize a world of opportunity for our clients..

In Central-Eastern Europe, for the last 17 years, we have been successfully helping foreign investors with setting up and providing comprehensive services including tax compliance, accounting, HR & payroll, corporate secretarial services and fund administration. In the CEE region we hire ca. 600 fantastic employees managed by a team with years of experience in the trust, tax or audit industry.

Why do clients choose your business?

Choosing us, clients can immediately draw from our years of experience to fast track their development and growth. Once established in a specific market, investors need to ensure they stay one step ahead at all times, which can be a challenge without the local knowledge and know how. Thanks to our extensive in-country knowledge and expertise, we can best deal with local regulatory requirements, ensuring we keep the client tax and payroll compliant. Potential investors can benefit from Vistra’s common systems and processes, which are audited and ISO/ISAE certified, that supports scalability as well as transparency and ensures control from anywhere in the world.

How do you add value to your client's wants and needs?

The quality of our services is not only about compliance, but also about responsiveness, flexibility, pro-activeness and willingness to go the extra mile in order to fulfil a client’s needs. Our market position is a result of our commitment to what we do.

Do you have any new initiatives?

In 2020, the way we work changed drastically. As we continue to navigate the global shift to remote work, it's more important than ever for businesses to attract and retain top talent. Unfortunately, on-boarding new employees across borders has also become increasingly complex, as businesses need to keep up with a host of new tax, HR and regulations. Therefore, Vistra globally has recently launched employer of record services (an international PEO service) to support the full lifecycle of doing business internationally. For organisations looking to build teams worldwide in locations where they do not have a local entity, the EOR service is a strategic solution. It gives access to local talent in their target location quickly and seamlessly while complying with all the required regulations. EOR is a strong complement to our existing international expansion services that support a broad spectrum of clients from start-ups to scale ups to IPOs.

Does your Business have interesting achievements?

At Vistra, we believe that a strong business reputation depends on a robust information security and business resilience programme. Our practices are focused on sharing information appropriately and lawfully, while providing confidentiality, integrity and availability. Taking this into account, we are happy to inform that Vistra globally has recently been recognised for the information security practices and received ISO/IEC 27001 certification across 11 of our major offices and data centres including Warsaw. ISO/IEC 27001 is part of a set of standards developed by the International Organization for Standardization (ISO), in partnership with the International Electrotechnical Commission (IEC), to provide a comprehensive set of controls, based on best practice in information security.

Vistra Poland has obtained the ISAE 3402 (International Standards on Assurance Engagements) Type I and Type II certificate for Accounting and HR & Payroll service lines. An independent auditor confirmed that Vistra have the appropriate policies, procedures and effective operating controls for a service organisation.

How has the Chamber supported you to date and what more can we do to assist your needs?

IPCC plays a very important role in supporting us to interact, engage and forge relationships with the members of the Chamber’s community in Poland. Kenny Morgan, Vistra’s Director, has been a board member of the Chamber since 2008. Since 2013, we’ve been organising together a St. Patrick’s Day business mixer in Kraków which has become very popular among the local network. We are looking forward to running the next edition in 2022! Apart from that we regularly join many of the Chamber’s initiatives like the Flavours of Ireland, business mixers and charity ball, as well as webinars – two recent ones were about doing business in Poland and tax regulations. We definitely benefit from the networking opportunities that IPCC offers.

Thoughts regarding the business environment in Poland in 2021?

Poland was less impacted by Covid-19 in 2020 when compared to the rest of Europe partly due to the lower share in the economy of sectors heavily hit by the pandemic, e.g. tourism, travel and recreation. Poland also recovered quicker than most countries in 2021 supported by the diversification of the economy and flexibility of enterprises. Poland continues to be a very popular investment destination for international capital. A large domestic market in central Europe, a member of the EU and a well-educated workforce are some of the factors that our clients mention when they decide to invest in Poland. Income convergence with western Europe will continue in 2021 and beyond. The biggest challenge for potential growth in Poland and the CEE region in the long term is the increasing labour supply difficulties due to weak demographics in many of the CEE countries.

Any advice for new businesses starting up?

It’s worth to remember that Poland’s regulatory and legal framework is very different from Ireland. Tax and compliance legislation is continuously being updated. It is important for you to understand what regulations and taxes are relevant for your business in advance of entering the market, so speak to companies already in the market for advice and tips. From an investors perspective, having a trusted and professional partner on the ground means you can hit the ground running from day one when entering a new market.

For further information please contact:

Kenneth Morgan,
Director CEE,
Vistra Corporate Services Sp. z o.o.
Generation Park Z, ul. Towarowa 28, 00-839
+48 604 496 305

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