It is important for clients to consider the business structure that best suits their purposes, such as:
- limited liability proprietary companies;
- limited liability public companies;
- various trust arrangements such as discretionary and non-discretionary trusts, unit trusts or family trusts;
- managed investment schemes;
- partnerships; or
- sole traders.
In our experience, our client’s accountants are often familiar with the financial requirements of the client. For that reason, we will often work with our clients’ accountants in giving advice in respect of the business structure that best serves our clients’ interests.
Rowe Bristol Lawyers is experienced in advising clients with respect to the suitability of business structures for client’s requirements, including with respect to:
- protection from legal liability;
- control and management of the operations and financial affairs of the business;
- the costs of administration and governance of the entity;
- taxation liabilities and benefits of the business including consolidation of group liabilities and available deductions and write-offs;
- distribution of income from the business, including the ability to split income between beneficiaries;
- the ability to transfer partial or complete ownership of the business;
- duties payable on transfer of land and land rich companies; and
- succession planning.
If you require legal advice in relation to business structures, please do not hesitate to contact us to arrange a meeting so that we may consider your specific circumstances.
The above information is provided as general information only and should not be relied upon as legal advice. The accuracy of this information may have changed from the date when it was published.