A New Year – Time to Reflect on 2022 and Plan for 2023

January is known as the most depressing month of the year. After over indulging and over spending during the Christmas and New Year, reality kicks in….we must lose weight and pay day isn’t until the end of the month!

Many people set resolutions for the new year, some eating healthier, some dry January…we are all different.

From a business perspective, January is a time to reflect on the previous 12 months, what can we learn from last year, and what can we improve on for this year.

If we reflect on Octopus over the last 12 months:

• We have had a great introducer base and great clients
• We have seen steady growth including local Gibraltar resident companies
• We have developed a social media presence via linked in, facebook, Instagram and twitter
• We have added additional services for clients undertaking accounts and tax returns in-house
• We have added a client relationship management system to control new business
• We have changed our take on process to enable us to accelerate the onboarding of clients for Gibraltar companies
• We have happy employees

If we now look at what we aim to achieve in the coming 12 months:

• A new online onboarding system to automate and streamline further our onboarding process
• Addition of corporate director and nominee shareholder services
• Continuing our social media presence
• Increased number of introducers
• Becoming eligible introducers for additional banks
• Increased number of Gibraltar incorporations per month
• Relocation services for Category 2 clients and HEPSS
• Introductions for Qualifying Non-UK Pension Schemes (QNUPS)
• Provision of tax advice for UK and Gibraltar residents via third parties
• Trustee services via a third party
• Gibraltar will writing services via a third party

By Phil Cartwright

Contact us on +350 200 77779 or info@octopus.gi

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Frequently Asked Questions

How did the business adapt its client onboarding process in the past year?

The business accelerated its onboarding process for Gibraltar companies by changing internal procedures and implementing a client relationship management system. These changes were made to better control new business and improve overall efficiency.

What role did social media play in the company’s activities over the year?

The company developed a presence on LinkedIn, Facebook, Instagram, and Twitter as part of its growth during the year. This social media strategy was intended to expand reach and engage with current and prospective clients.

What additional services did the business introduce for clients in the last year?

The business began undertaking accounts and tax returns in-house as an added service for clients. This reflects an expansion of offerings beyond existing core services.

What technology improvements are planned for client onboarding in the coming year?

The company aims to introduce a new online onboarding system to further automate and streamline the onboarding process. This is expected to enhance efficiency and client experience.

What new service areas are being targeted for the upcoming year?

New service areas include corporate director and nominee shareholder services, relocation services for specific client categories, introductions for Qualifying Non-UK Pension Schemes, and provision of tax and trustee services via third parties. Additionally, Gibraltar will writing services via a third party are being considered.

How does the company plan to expand its network of introducers and banking relationships?

The company aims to increase the number of introducers and become eligible introducers for additional banks in the coming year. This is part of its focus on expanding its reach and broadening service capabilities.