Vistra, a provider of trust, fiduciary and fund administration services, has snapped up Global Expandia, a provider of market entry and other related services to foreign-owned investors in Indonesia, for an undisclosed sum.

Jakarta-based Global Expandia was set up in 2014. The company provides company formation, tax compliance, accounting, bookkeeping, payroll as well as work permit services.

All the company’s 17 employees, headed by founders Miguel Latorre and Elsye Yaw, will join Vistra as part of the deal.

Latorre will now serve as the managing director of international expansion division in Indonesia at Vistra.

Vistra group managing director of international expansion Vincent Bremmer said: “Indonesia has emerged as one of the leading jurisdictions in Asia for international companies to expand into. Globally, it is the fourth most populous nation with a young labour force; representing a key market for Vistra as we strengthen our Southeast Asian business.

“The acquisition of Global Expandia will not only grow our network, but it will also prove beneficial for our existing businesses in Singapore, Hong Kong and China where we have clients already operating within Indonesia or with plans to do so.”

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