What are the benefits of an organization running its own LSO captive centre? In fact, what is a LSO captive centre?
Also known as a LPO (legal process outsourcing) captive centre, a LSO captive centre provides an organization with the resources to fulfill legal process services on a cost effective basis. A full captive solution is staffed with the organization’s own employees, using its own technology and systems. It may be set up as a separate company, which may have tax benefits especially if an offshore solution is utilized and set up as its own profit centre.
A captive centre is not cheap to set up, but the ongoing savings, compared to using onshore resources, could make this a worthwhile option for large scale operations.
One issue for organisations considering a captive solution is who will set up and manage the centre? The ideal candidate may be an existing senior executive. But would a senior executive be willing to relocate, especially if it is thousands of miles from home and where English is a foreign language?
A work permit is required for any expatriate worker in Barbados, and is usually granted for 3-5 years. Specially qualified expatriates may qualify for a tax exemption ranging from 35% to 60% on their income tax, which makes it not only a viable option but also an attractive one for the executive. Once the work permit is issued the senior executive’s family will also be granted the right to live in Barbados, and with a choice of high quality, low cost private schools, affordable housing, and excellent medical care, settling into Barbados lifestyle is made easy.
A tailored captive centre solution is an alternative to the pure captive model, where some of the services are provided by an LSO provider. Tailoring the service enables the organization to retain its desired elements and source the remainder.
Please contact us for more details on the Barbados benefits of LSO captive solutions or to discuss LSO services generally.