About Us

Our Mission

We provide dynamic tax relief solutions through technology and client-centered service.

Our Vision

To remove friction in the complex world of global investing that will maximize your investments and simplify your life.

Acupay: Service Without Borders

What we do

Acupay's expertise in cross-border finance, securities processing and international tax relief, combined with its unique business approach, has enabled Acupay to provide efficient solutions to difficult, and often previously unworkable, operational and mechanical problems in securities issuances and international investment.

Since 2005, Acupay has been employed by capital market participants to neutralize the impact of withholding taxes on foreign dividends on nearly U.S. $331 billion of cross-border securities. On the buy-side, the Acupay System has been employed by over 2,200 of the largest custodian banks on the behalf of over 1.1 million investors located in in 180 nations.

We are committed to the relationships we have developed with the professionals we work with worldwide on a daily basis.


Acupay was founded in 2005 by Robert Apfel. An innovative financier, his electronic book-entry system profoundly increased the efficiency of bond trading and helped change the economic landscape of the 1980s.

Acupay started as a solution to new beneficial owner reporting requirements in Spain introduced by Spanish Law 19/2003. The success of this solution facilitated continued expansion into other markets around the world with similar beneficial owner and reporting requirements. It has now grown into the tax compliance and reclaim agent for some of the largest issuers and investors in the world.

Bondholder Communications Group

Acupay’s sister firm, Bondholder Communications Group (BondCom) is a world leader in navigating the twists and turns of successful bondholder initiatives.

BondCom assists issuers and their agents in consent solicitations, sensitive tender or exchange offers, as well as complex bankruptcies and restructurings. BondCom and its predecessor firms have been engaged in the business of facilitating communication between issuers, their agents, and beneficial owners for over 20 years.

With the benefit of solid experience as a leader in the field, BondCom is committed to serving clients efficiently and effectively, providing innovative solutions and platforms for communication.