What Globe Tax Services Inc. does

Globe Tax Services Inc. (GlobeTax) is a New York-based, founder-led private company founded in 1992 that provides outsourced withholding tax relief and recovery services to global investors and the financial institutions that custody their assets. The company operates two integrated product platforms. MIDAS® is a full-service tax recovery platform that manages the entire claim lifecycle — relief at source, quick refund, and standard reclaim — across 40+ markets, accessed by clients through the MIDAS® Connect reporting portal. ESP (and its enhanced version ESP+) handles intake, validation, and transmission of beneficial owner data throughout the DTCC custody chain, with API/SFTP integration, ISO 20022 messaging to DTC, and bulk claim election management. Supporting modules include eCerts for Certificate of Tax Residency filing and ESP Canada for Canadian Long Form claims. GlobeTax has contractual relationships with all four U.S. Depositary Banks, holds ISO 27001 and BITS SIG AUP certifications, and is trusted by tax authorities in France, Japan, Korea, Mexico, and Switzerland.

The company serves a defined set of enterprise customers: asset managers and hedge funds (e.g., a $100B+ AUM hedge fund and a near-$50B AUM hedge fund per case studies), global wealth managers (a Top 5 Global Wealth Manager with $350B+ AUM), banks/brokers, pension and tax-exempt entities, ultra-high-net-worth individuals, and the B2B counterparties that custody or issue the underlying securities — DTCC Participants, depositary banks, CSDs, transfer agents, and issuers. The business model is 100% contingent fee: clients pay nothing until funds are successfully recovered, with GlobeTax earning a percentage of realized entitlements. Scale metrics include $4 billion returned to clients annually, 20 million+ claims submitted and processed each year, 2 trillion+ shares processed through ESP, and 370+ counterparty relationships. Distribution is hybrid: direct enterprise field sales combined with self-serve platforms (MIDAS Connect, ESP, eCerts) for ongoing claim management and reporting.

Name

Globe Tax Services Inc.

Legal name

Globe Tax Services, Inc.

Website

https://globetax.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

Globe Tax Services Inc. (GlobeTax) provides outsourced withholding tax relief and recovery services across 40+ markets to asset managers, hedge funds, wealth managers, custodians, and UHNW investors via its MIDAS® and ESP platforms under a contingent-fee model.

Ownership category

akta.pro rank

Product category

Withholding Tax Recovery Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Finance Services (6199)

akta.pro primary industry

International & Cross-Border Collections (FSAKAJAO)

Keywords

• Withholding tax recovery
• Tax relief services
• Global tax reclaim
• Withholding tax compliance
• International tax services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Contingent Fee - Tax Recovery: Clients pay nothing until GlobeTax successfully recovers funds. This contingency-based model means the company only earns revenue when it delivers measurable financial returns to clients through tax recovery. The risk-free model for clients aligns company incentives with client outcomes.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

GlobeTax is an outsourced service provider that manages the entire withholding tax relief and recovery lifecycle for institutional investors and financial intermediaries across 40+ global markets. Through its MIDAS® and ESP platforms, the company identifies, prepares, files, and tracks claims for relief at source, quick refund, and post-payable reclaims on over-withheld dividend and interest income, charging clients only on a contingent basis when funds are successfully recovered.

Product overview

GlobeTax offers a platform-plus-modules architecture centered on two core services: MIDAS® for full-service tax recovery and ESP for streamlined tax disclosure processing. MIDAS® manages the end-to-end withholding tax relief and recovery process including relief at source, quick refund, and post-payable reclaim, accessible through the MIDAS® Connect reporting portal. ESP and its enhanced version ESP+ handle beneficial owner data collection, validation, and transmission throughout the custody chain. Specialized modules include ESP Canada for Canadian Long Form claims and eCerts for Certificate of Tax Residency applications. The platform processes claims across 40+ markets, with capabilities including ISO 20022 messaging, API/SFTP data transfer, and DTCC integration.

Differentiator

Problem solved

Functional benefit

Brands

• MIDAS: Full service tax recovery platform that manages all aspects of the claim identification and submission process, helping clients add up to 65 basis points of performance annually.
• ESP
• eCerts
• MIDAS Connect
• ESP+
• ESP Canada

Products and services

• MIDAS® Full-service tax recovery platform that manages all aspects of withholding tax claim identification and submission, including relief at source, quick refund, and post-payable reclaim across 40+ markets. Used by asset managers, hedge funds, banks, wealth managers, and tax-exempt entities to recover up to 65 basis points of risk-free annual alpha.
• ESP (Entity Shareholder Processing) Platform that streamlines intake and processing of beneficial owner data and documentation, coordinating with DTCC and validating information across the custody chain. Used by DTCC Participants, depositary banks, central securities depositories, transfer agents, and issuers to ensure account holders receive the appropriate withholding tax rate.
• ESP+ Premium service for DTCC Participants providing automated data transfer via SFTP or API, unlimited BO uploads, ISO 20022 messaging to DTC, and full reporting capabilities. Eliminates manual processing with automated election and upload processes for high-volume institutional clients.
• ESP Canada Premium service launched in 2023 that supports submission of Long Form Canadian withholding tax claims on behalf of DTCC Participants without requiring them to establish a process with the Canadian Revenue Agency, reducing operational costs and delivering entitlements faster.
• eCerts Certification and documentation assistance tool for completing and tracking Certificate of Tax Residency applications used to receive favorable foreign withholding tax rates on dividend payments. Supports registration, application submission, and status tracking.
• MIDAS® Connect Web-based reporting portal for MIDAS® clients featuring interactive dashboard displays of benefits received, real-time claim status tracking, and comprehensive payment monitoring across 40+ markets.
• Standard Reclaim Service Foundational withholding tax recovery service launched in 1992 to recover over-withheld foreign taxes on dividend and interest income for investors who did not claim treaty benefits at source. Forms the original service offering upon which MIDAS® was later built.

Quantifiable outcome

• Up to 65 basis points of risk-free annual alpha added through tax recovery
• +5 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

One partnership is on record.

• DTCC (Depository Trust Company)coreTechnology or IntegrationGlobeTax coordinates with DTCC to develop Important Notices, validate information from DTCC Participants, and transmit ISO 20022 messages. The ESP platform integrates with DTCC systems for election processing and payment allocation. ESP+ enables automated data transfer via API or SFTP with DTCC.

Scale indicators13 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• KPMG: Big Four professional services firm operating a global tax practice that includes withholding tax recovery and treaty-based reclaim services for multinational investors. Comparable to GlobeTax because both serve institutional asset owners with cross-border withholding recovery, though KPMG operates within a much larger advisory and audit portfolio.
• Avalara: Cloud tax compliance platform spanning sales tax, VAT, and withholding tax calculations and filings for businesses globally. Comparable to GlobeTax because it serves similar tax compliance workflows — particularly withholding and transaction tax — though it focuses more on calculation/filing than on cross-border reclaim services.
• BNY Mellon: Global custody bank offering tax services and withholding tax reclamation as part of its asset servicing franchise. Comparable because BNY Mellon's tax services division addresses the same withholding recovery pain points for institutional asset owners and serves overlapping DTCC/depositary workflows.
• State Street: Global custody bank offering tax reclaim and relief-at-source services to asset manager and asset owner clients as part of its broader servicing platform. Comparable because it competes for the same workflow (withholding tax recovery) but at significantly larger scale and as one capability among many custody and servicing offerings.
• Deloitte: Big Four professional services firm with a global tax practice that includes withholding tax recovery and relief-at-source services for asset managers and financial institutions. Comparable to GlobeTax in serving the same enterprise customer base with cross-border withholding recovery services, but as part of a much broader tax advisory portfolio.
• Wolters Kluwer: Global information services and tax compliance software provider whose Tax & Accounting division serves corporations and financial institutions with withholding tax, FATCA/CRS, and corporate tax solutions. Comparable because it operates in the same tax compliance and recovery workflow that GlobeTax serves, though as part of a much broader publishing and software portfolio rather than a specialized withholding-recovery focus.

Regional players

• Clearstream: European-based Central Securities Depository offering custody, settlement, and tax services including withholding tax reclaim for international investors. Comparable to GlobeTax because it operates in the same cross-border withholding recovery workflow and interfaces with the same depositary-bank ecosystem, but is primarily European in geographic focus.
• Euroclear: International central securities depository providing settlement and asset servicing including tax services for cross-border securities transactions. Comparable to GlobeTax because it serves the same cross-border withholding tax recovery workflow and competes for institutional asset-owner mandates in European markets.

Direct peers

• TMF Group: Global provider of corporate, fund, and tax administration services including withholding tax recovery for institutional investors. Comparable to GlobeTax because it serves overlapping customer segments (asset managers, hedge funds, multinational corporates) with a services-led cross-border tax recovery offering.
• Sovos: Tax compliance platform purpose-built for global businesses, covering withholding tax, VAT, and other transaction-based tax obligations. Directly comparable to GlobeTax as both serve multinational financial and corporate clients with technology-enabled cross-border tax compliance and reporting workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/GlobeTax
• LinkedInlinkedin.com/company/91249
• Xx.com/globetax

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Globe Tax Services Inc.