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Why FCA has four HQs

by David Zatz on

The newly re-organized FCA has two major headquarters — a corporate address in the Netherlands and a tax address in the United Kingdom — as well as U.S. and Italian stock listings, and U.S. and Italian regional headquarters (FCA US and FCA Italy).

Marchionne-Crain-Interview-Web

Sergio Marchionne told Keith Crain of Automotive News why, during a one hour interview:

  • The Netherlands was chosen to allow American investors to receive dividends without withholding taxes, to give added weight to the votes of long-term shareholders, and to allow dual stock listings in the U.S. and Italy.
  • The UK tax headquarters was chosen, according to Mr. Marchionne, due to the favorable terms of the treaty between the UK and the US. (He did not mention the fact that the UK only taxes companies on their sales within the UK, which, for FCA, are relatively small, saving a great deal of money.)

He also said, “We are fundamentally a North American-driven house with relatively large operations in Latin America and Europe. We are very much a North American brand. … I think there is an understanding now that the future of Fiat and its pre-Chrysler days would’ve been a lot more dubious and more uncertain than one with a combined future with Chrysler.”

 

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