Naqoda Ltd, a provider of software solutions and services to the financial industry, today announced further expansion with the formation of Naqoda Pte Ltd, a new subsidiary based in Singapore.
Naqoda Pte Ltd will be located in Singapore's Central Business District and will act as a development and support competence centre, providing services to the group.
Erik Bogaerts, Managing Director, commented: "We feel that Singapore is the ideal location for our expansion. It is a top financial centre, very supportive to companies in start-up mode and it has excellent access to a quality workforce which we can tap into, to continue hiring in the future. Additionally, in combination with our support staff in Europe, we will be able to provide support services to our customers across a wider time window whilst remaining competitive."
Naqoda will be announcing shortly who will be heading the new development centre.
The Naqoda German Flat Withholding Tax Engine, GFWT in short, is a solution built for financial institutions for calculation and reporting of interest income tax and capital gains tax according to German tax law.