New members bring new opportunities
Leading accounting firms in Central America and the UK join Praxity. Find out about the specialist support they bring to the Alliance.
Prime Solutions, Panama
Olistica, El Salvador
Praxity recruit three high quality firms – Prime Solutions in Panama, Magma in England and Olistica in El Salvador.
Each firm provides proven expertise and exciting possibilities for international collaboration. Together, they give the Alliance greater coverage globally and deeper expertise.
Here, we take a look at what each firm has to offer and how their specialist local and technical knowledge can help existing Praxity member firms and their clients do international business.
Prime Solutions, Panama
As a ‘boutique’ accounting firm that prides itself on personalised service, Panama’s Prime Solutions is ideally placed to provide tailor-made solutions to international clients wishing to establish a presence in Panama.
The big plus for the Alliance is that with Prime Solutions on board, member firms have greater access to tax and legal specialists in the country known as the ‘hub of the Americas’ thanks to its location, transportation and logistics.
The Prime Solutions team includes experts on local and international tax, accounting, immigration, wealth and succession planning and business, corporate and legal services. The team’s specialist knowledge extends to BPO, tax returns, labour and payroll, tax compliance and tax advisory as well as a wide range of legal services including relocation, real estate transactions and anti-money laundering compliance.
Explaining how this specialist knowledge can benefit the Alliance, Giovanna Bernal, Founding Partner at Prime Solutions, says: “Expertise on the legal, accounting, and local and international taxation in Panama can be extremely valuable to individuals and businesses as they can find in the same place comprehensive legal, financial and tax advice, which can help clients make informed decisions and avoid potential legal and financial issues. This can help clients mitigate risks and optimize their financial situation.”
Another key benefit is Prime Solutions’ service-oriented approach, a value shared across the Alliance. Giovanna explains: “Prime Solutions is committed to delivering a personalised service of the highest quality, offering effective solutions tailored to particular needs. We are known for excellence and quality in service, commitment to our clients, and quality control over all our services.”
Combining local and technical expertise with tailored service is equally important at Magma, Praxity’s latest recruit in England. The firm comprises over 100 people, many with ‘big firm’ expertise and all “passionate about providing personable services and adding real value for their clients”.
A private, business-focused firm of Chartered Accountants based in the Midlands region, Magma offers core compliance and value-adding advisory services to a hugely successful client base.
Many of the firm’s senior people come from ‘big firm’ backgrounds and the sweet spot of its UK- centric client base is in the £2m to £50m turnover bracket.
While Magma operates across all sectors, the firm provides particular expertise in the property, renewable energy, manufacturing, engineering and software & technology sectors. This includes both compliance and advisory services such as business structuring, income and capital taxes, asset structuring, corporate finance, due diligence and M&A support services.
Commenting on what Magma brings to Praxity, the UK firm’s Managing Partner Mark Tuckwell says: “Our expertise, depth and advisory capability is second to none for a firm of our size. We combine those capabilities with a ‘joined-up’ and client focused service approach, to ensure clients’ ambitions are understood and solutions are fully commercially fuelled.”
That combination of specialist knowledge and a collaborative approach will sit particularly well within the Alliance.
“Connect people to conduct business.”
Carlos Mendez Torres Founding Partner and CEO
Olistica, El Salvador
The depth of local and international expertise at Olistica Business Partners in El Salvador will be a big asset to the Alliance.
Olistica has more than 12 years’ experience providing services for legal, financial, and tax consulting locally and internationally. The team has advised national and multinational companies, investment funds and investment banks in the development of new business and M&As at an international level.
The firm brings experience in international tax planning, project financing, transfer pricing studies, forensic audits and audits in supervised institutions, regulatory compliance and corporate restructuring processes. Olistica professionals also work as consultants for several international organizations and development banks, providing expertise on issues such as international tax, business development, and in the execution of public projects.
Olistica’s Founding Partner and CEO Carlos Mendez Torres says being part of the Alliance is a win- win situation. He explains: “We believe that our ability to connect people to conduct business combined with our knowledge in financial and international taxes can help us develop successful collaborations within Praxity to support our clients. Moreover, our knowledge of the Central American region and the way in which each market works can be a differentiating and supportive element for the entire Alliance. Together, we can advise clients that do business here in Central America.”
Olistica has a strong international pedigree. The team studied in the U.S., LATAM and Europe, and has successfully helped clients develop and open businesses in El Salvador, Guatemala, Honduras, Nicaragua, Costa Rica, Panama, Dominican Republic, Colombia, Mexico, the United States, Canada and Spain. Olistica has also won the confidence of clients based in North America, LATAM, Europe, Asia and the Middle East.
With the addition of Prime Solutions, Magma and Olistica, Praxity is stronger – locally, technically and internationally. It means member firms have even greater opportunities to provide truly global support of the highest standard.
Praxity has also been joined by Nwanda Incorporated in South Africa and the remaining five Talenz firms in France. Look out for more details of these latest member firms on the Praxity website and the next issue of HUB.