Structuring can extend beyond the use of a single entity; for example, a single business operation does not have to be confined to only a single company. There are combinations of companies, trusts, partnerships, and joint ventures, which may benefit certain types and sizes of businesses far better for both asset protection, tax reduction, management, and perpetuity of the business.
Demonstrated effectively in appointing a company as the corporate trustee of a trust in which the corporate trustee carries out the business on behalf of the trust’s beneficiaries. In this instance, should a circumstance arise where the business folds, and all legal obligations have been adhered to, the personal assets of the controlling individuals are more likely to be preserved.
It is strongly recommended that legal advice is sought before setting up a combination of entities, as the complexity becomes exponential with each added entity. The complexity of a multi-entity structure enables greater flexibility. This is evident in the alternating methods to manage accounting, as well as enabling greater legal discretion within your affairs. Through obtaining experienced guidance and advice, you can rest assured that your business will be set up professionally, to allow for the present, and ultimately with anticipation to the future business growth.
Greenhalgh Pickard are well-positioned as a professional joint-services firm to offer outstanding structuring advice that encompasses both legal and accounting viewpoints. Each client interaction is optmised through providing increased value and efficiency of our multifaceted legal and accounting team inhouse. We invite you to benefit from a free 30-minute obligation-free consult to discuss your business needs.
Greenhalgh Pickard’s business advisory team
