Coffee Break: Key Considerations for Migrating Your SPV Corporate Services Provider

Ireland: A Hub for SPVs

Ireland continues to be the leading European jurisdiction for Special Purpose Vehicles (SPVs). Corporate Service Providers (CSP’s) are at the centre of this eco-system, providing support services covering the full life cycle of the SPV to keep the structures in good standing.

Adrian Bailie, Head of Debt and Capital Markets – Ireland, discusses some practical insights into why choosing the right corporate service provider is crucial and why changing administrator may not be as hard as you might think.

Migrating to a new CSP for SPVs can be a strategic move to enhance operational and compliance efficiency, and service quality. Common drivers for change include poor client service delivery, missed regulatory deadlines, such as stock exchange filings or CBI SPV/FVC submissions, late filing of audited financial statements, limited director availability, inflexible service offerings, and a lack of fee transparency.

The Right Partner

Selecting the right CSP requires careful evaluation of several critical factors. Market expertise and a deep understanding of SPV structures are essential, along with the ability to customise services to meet specific business needs. A strong governance framework and regulatory knowledge are essential, particularly in complex jurisdictions. Efficiency through technology, a bespoke approach to service delivery, and clear cost transparency are also key indicators of a reliable and future-ready provider.

Making The Move

Although transitioning CSPs may seem daunting, a well-managed migration is typically led by the incoming provider, who assumes most of the operational workload. The process includes:

• A detailed migration plan with clear timelines
• A dedicated, experienced migration team
• Review of legal considerations and compliance obligations
• Completion of all KYC/AML checks
• Secure data and banking record transfers
• Robust testing and approval protocols before going live
• Clear communication with stakeholders
• Finalisation of legal documentation and service level agreements.
• Closing board meeting and post-transition monitoring

HIGHVERN in Ireland

HIGHVERN’s Irish team brings specialist expertise in corporate services for private debt and capital markets SPVs, particularly Irish Section 110 structures. Our dedicated Ireland-based professionals tailor solutions to each client’s business model. We invest in market-leading technology that offers real-time access to records and reporting, while our internal control framework ensures robust governance and proactive horizon scanning.