Vistra, a corporate service provider of international incorporations, trust, fiduciary, private office, international expansion and fund administration services, has acquired Global Expandia. The latter is a Jakarta-based firm comprising offering market entry and other related services to foreign-owned investors operating in Indonesia.
This acquisition adds to Vistra's growing global footprint for international expansion services by establishing a presence in Indonesia, the press statement read. Miguel Latorre and Elsye Yaw, founders of Global Expandia, will join Vistra, with Latorre becoming the managing director of Vistra's tnternational expansion division in Indonesia.
Vincent Bremmer, group managing director of international expansion at Vistra, said Indonesia has emerged as one of the leading jurisdictions in Asia for international companies to expand into. As the fourth most populous nation with a young labour force, Bremmer said Indonesia is a key market for Vistra as it strengthens its Southeast Asian business.
He added that the acquisition will not only grow Vistra's network, but also prove beneficial for its existing businesses in Singapore, Hong Kong and Mainland China, where it already has clients operating within Indonesia or has plans to do so.
"Latorre and Yaw have successfully built and grown Global Expandia, and their ongoing leadership is important to ensure our Indonesian business continues along the same growth trajectory. Their expertise will be integral to our growth in the region," Bremmer said.
Latorre added that the acquisition is a "fantastic opportunity" for Global Expandia, and is also a reflection of the work the team has done in making the company a "major provider" in Indonesia for supporting foreign investment.
"Vistra will provide us with the platform to attract new foreign clients to Indonesia through their extensive global network. This is a breakthrough step for all of us and we are excited to continue growing with Vistra," he added.