Octopus Expands Services with Class VIII License

We are delighted to announce that Octopus have recently obtained a Class VIII license from the Gibraltar Financial Services Commission to provide Corporate Director services and Corporate Nominee Shareholder services from our new subsidiary companies, Landport Management (Gibraltar) Limited and Landport Nominees (Gibraltar) Limited.

Sharron Smith, CEO, stated “This is an exciting stage in the development of Octopus International Business Services Limited. For over 20 years, we have provided the basic registered office and secretarial services to Gibraltar companies, however in 2022, having benefitted from constant growth in our sector we determined that the next step was to add accounting services to our armoury to improve our service offering, and from there it was a natural progression to add the new corporate services for our clients”.

On being asked why this was important to offer these services, Sharron responded “in today’s world, it is extremely important to stay on top of transaction monitoring for clients, and by being directors, we have greater control over the companies under our management. In addition to this, it allows us to apply to open Gibraltar bank accounts for companies as the Directors will be based in Gibraltar”.

By Phil Cartwright

Frequently Asked Questions

What new services does the Class VIII license enable for Octopus in Gibraltar?

The Class VIII license allows Octopus to provide Corporate Director services and Corporate Nominee Shareholder services in Gibraltar. These services are offered through their subsidiary companies, Landport Management (Gibraltar) Limited and Landport Nominees (Gibraltar) Limited.

How does having directors based in Gibraltar affect the process of opening local bank accounts for companies?

Having directors based in Gibraltar enables applications for Gibraltar bank accounts to be made more readily, as banking institutions often require local director presence for due diligence and compliance. This arrangement facilitates smoother banking introductions for companies managed under these services.

Why was the expansion into accounting and additional corporate services considered a natural progression for Octopus?

After providing registered office and secretarial services for over 20 years, Octopus expanded into accounting to enhance their offering. The addition of corporate director and nominee shareholder services followed logically, enabling more comprehensive management and control for client companies.

What is the significance of transaction monitoring in providing corporate director services?

Transaction monitoring is crucial in corporate director services as it helps ensure ongoing compliance and oversight of client activities. By acting as directors, the service provider can maintain greater control over client companies and enhance regulatory adherence.