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August 28, 2008updated 29 Apr 2022 1:06pm

Mid-tier network expands into Middle East region

UHY International has strengthened its representation in the Middle East with the addition of a new member firm in Tel Aviv, Israel. Shtainmetz-Aminoach & Co becomes the network’s only Israeli member.

The firm, which is registered with the US Public Company Accounting Oversight Board and a member of the Israeli Auditors’ Council, has 65 staff, including five partners. Its fee income for the last financial year was about $4 million.

Shtainmetz-Aminoach & Co provides accounting, auditing and tax services, as well as specialist services on international tax, complex Israeli tax planning, taxation of pensions and provident funds, and services on holding share options for employees.

The firm’s managing partner Amir Cahana said: “We are delighted to be representing Israel within such a fast-growing global network.

“We hope our membership of UHY will allow us to deliver premium client service, on a global scale, for the benefit of our international clients. Our clients currently span the Americas, Asia-Pacific, Europe and Middle East and Northern Africa regions, so joining UHY seems a natural step to take in order to achieve our business and client service objectives.”

UHY International chairman John Wolfgang said Shtainmetz-Aminoach & Co will be a valuable addition to the network.

“Israel has a technologically advanced and fast growing market economy, and is renowned as a hub for start-up businesses, many of whom trade on an international basis from day one,” he said. “The Israeli government has gone to great lengths to encourage foreign investment, and this is evident with Israel becoming the base for the largest number of NASDAQ listed companies outside North America.”

The firm is the ninth new member to join the UHY network since January 2008. Other recent additions include Nigerian firm Maaji & Co. In Brazil, the network recently added a firm with about 70 people. There have also been additions in Puerto Rico and Guatemala.

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