International Compliance

OCRA Worldwide aims to assist businesses to meet the legal requirements imposed on them by the main anti-money laundering legislation. We achieve this through ongoing consultation, comprehensive and innovative training and the regular provision of relevant anti-money laundering information.

The Terrorism Act 2000, The Proceeds of Crime Act 2002 and The Money Laundering Regulations 2003 have broadened the scope of the UK anti-money laundering effort. ALL offences that involve terrorist finance or in which the proceeds of ANY crime are generated are now captured by this legislation.

Furthermore, the regulated business sector has been enlarged to include, amongst others, solicitors, accountants, tax advisers, auditors, estate agents and those involved with the incorporation and management of companies.

The legislation is unequivocal; failure by a regulated business to adhere to the requirements of the Money Laundering Regulations 2003 is a criminal offence.

Professionals now face up to two years imprisonment and/or fine. The damage to the reputation is inestimable, and potentially devastating.

However, the anti-money laundering legislation presents an opportunity for professionals who comply with the regulations to safely undertake high risk business whilst simultaneously reducing the possibility of their systems being compromised. The proper assessment of all new and relevant existing business ensures that you know your client and your client’s business. It is on this firm foundation, not fear, that you will be able to make the correct decisions as whether to proceed or not.

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OCRA Worldwide announces strategic merger with Acclime

17^th November 2022, Hong Kong - OCRA Worldwide (OCRA), announces today that it has completed the strategic merger with Asia Pacific’s premier corporate services provider Acclime (www.acclime.com). This is the latest step in Acclime’s active expansion as the Asia specialist in compliance and corporate services throughout the region.

Established in 1975 and led by Bart Dekker and Dharmesh Naik, OCRA is one of the industry pioneers in the corporate services sector with a full suite of corporate services from company formation, company secretarial support, accounting, and HR services. Over the past 40 years, OCRA has become a truly global business by providing very personalised services to their clients, most of whom are private investors or companies investing abroad.

From its founding base in Europe, OCRA has morphed over the past decade to focus on the faster growing markets of Asia and the Indian Ocean, and currently has teams in Hong Kong, Shanghai, Singapore, Mauritius and the Seychelles with around 80 staff. Additionally, OCRA is licensed in Samoa and the UAE to provide incorporation services to clients and referral partners.

"The high quality of the team, the interesting gateway jurisdictions of Mauritius and UAE which are important investment hubs for Africa and India, and the synergy of offering OCRA clients more services and Asian locations for expanding their business were the strategic logic for Acclime's interest in acquiring OCRA," said Martin Crawford, CEO and Co-Founder of Acclime. "We look forward to introducing OCRA’s corporate clients to our regional experts in China, Hong Kong, Australia, Cambodia, Indonesia, Malaysia, Thailand, India, Philippines, Singapore and Vietnam," he added.

The sale of the business was managed by the corporate advisory team of Mazars in London (Paul Joyce & Fred Dearden), acting for the ultimate shareholder of OCRA, and was opened for bids. "Acclime was chosen as the preferred bidder as the team recognised the cultural similarities, with high quality, personalised services at the core," said Bart Dekker, OCRA’s Managing Director, Asia Pacific. Dharmesh Naik, OCRA's Managing Director, Middle East and Indian Ocean, added, "We are excited and delighted to become an integral part of a large international team with the established resources across Acclime's network, and to execute the transaction in line with OCRA's long term succession plan in the interest of all of our stakeholders."

OCRA will operate as an independent business unit within Acclime, supported by funding, IT and marketing initiatives that will grow the business further. Bart Dekker and Dharmesh Naik will remain running the business post-acquisition.

The transaction is subjected to regulatory approvals in several locations and Acclime is expected to complete the acquisition by the end of 2022.

About OCRA
Established in 1975, OCRA is one of the industry pioneers in the corporate services sector with a full suite of corporate services from company formation, company secretarial support, accounting and HR services. For over 40 years, OCRA has been providing personalised services to its clients, most of whom are private investors or companies investing abroad.

About Acclime
Acclime, the premier corporate services provider in Asia, helps corporate and private clients to advance their businesses and interests in difficult-to-navigate markets in emerging Asia. The company’s vision is to reinvent the corporate services sector with innovative solutions that are seamlessly delivered to the highest global standards.

Enquiries: enquiries@ocra.com

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