Acupay evolved from the simple idea: that creative thinking and technological savvy can be combined to solve some of the most complex financial, legal and cross-border tax fairness problems. We have discovered it takes a fresh approach to conventional challenges and answering those challenges with systematic, efficient solutions that deliver growth and open up new markets.
We started in Spain in 2005 --- where a two-year-old tax law (called Law 19) brought about tax reporting requirements that were operationally burdensome, if not unmanageable for the international securities market. As a result, Spanish issuers were unable to issue any debt securities overseas.
Acupay took on the challenge of the Spanish law. By re-thinking the tax relief process and leveraging new technology, Acupay was able to create an efficient solution to a complex problem that finally allowed Spanish issuers to be fully compliant with their nation’s tax reporting requirements. Not only was Acupay’s solution compliant, but it also allowed investors to obtain tax relief "at source," on $106 billion of securities, whereas previously the process of obtaining tax relief was a lengthy and time-consuming endeavor.
Using the same approach applied to Spanish securities, Acupay has also invented unique solutions to solve the regulatory and operational problems plaguing issuers and investors in Germany, France, Belgium, Italy, Russia and Korea.
Acupay has also developed improved methods to directly assist end investors in obtaining the documentation necessary to receive tax relief from foreign countries. In the past, end investors were faced with a burdensome task of figuring out what paperwork was necessary for tax relief and then trying to attain it from their government, often a lengthy and time-consuming process. Acupay’s solutions have eliminated this difficulty by streamlining the process and utilizing a central, web-based system for end investors to secure their tax relief electronically. The time (and effort) required of end investors to obtain their paperwork has been significantly reduced.