Latin America, even if there are some differences related to countries or areas, is presenting a mediumdata friction. It means process related to collection and updating data related to companies can present some difficulties in term of rules related to registration, public bodies in charge and data availability itself.
To take into account that in Latin America area are included some countries considered as Tax Haven. Some of them are pure tax haven that does not impose income taxes, estate taxes or capital gains taxes on individuals or corporations. Some others are fifty year tax exemption applies to most forms of income, dividends, interest and royalties paid by and to foreigners.
Non Tax Haven countries show some common point in term of domestic risks: structural weakness, uncertainty in big economies and elevated political tensions combined to high debt. Governmental bodies manage and rule company registration and other documents connected. In this scenario, level of digitalization is an ongoing process presenting some issues in data availability: data collection and updating is often based on manual processes instead of automatic.
Financial data are available only for companies quoted at stock exchange, required by law to file balance sheets. It means that financial data are available to a limited number of companies. Other information related to business are available in public sources managed by government or local institutions with some issues in term of data updating and availability.
SkyMinder, having in mind this scenario, is able to offer Credit Report working with the best local providers on all Latin America Countries and Territories, without any exclusions. Tax Haven are included, even if, due to local legislation, data available can be very limited. Every economic entity acting on the market, regardless legal form or other firmographic indicators related to its dimension, can be requested via SkyMinder. Credit Report is produced thanks to a fresh investigation flow leveraging on official and unofficial sources and local data. Thanks to this accurate and high quality process, also evaluation data like rating and credit limit are available to best assess the company creditworthiness.
In a country where economic and political conditions can present some area of risk, is also important to have an overview on how a company is changing over the time. This is why via SkyMinder is possible to combine to reports also Planned Revision, a service able to verify periodically is something new is affecting company. This is a very powerful tool to understand how a business partner is acting in a scenario where data collection isn’t automatic and based a very critical flow.
Latin American companies are more and more interconnected with business in different continents: it’s now important understand company structure and shareholding (Tax Haven countries excluded). Thanks to KYC Report is possible to obtain information via SkyMinder. Also financial crimes, d bribery and corruption, terrorism are topics to take care when evaluate a company, both in term of risk management and reputation. In this case, SkyMinder has a double offering with two products, Compliance Check Report and Extended Report, able to verify if company required or shareholders and principals are connected to financial crimes.