Family Office
Family offices are complex organizations that require deep knowledge — not just of investment variables, but also a host of other factors. As trusted advisors to ambitious business-owning families, Prosperity have the experience and know-how to help the entire family enterprise — families, their family business and their family office — pursue growth opportunities while preserving values and building the family legacy.
Our Holistic Approach
Today, private family capital is larger than private equity and venture capital combined. The increasing concentration of wealth held by very wealthy families and rising globalization are fueling the growth of family offices.
Prosperity AM is a family office who also acts as a boutique wealth consultancy firm for associated high net worth and ultra hight net worth entrepreneurs and families keen to protect their wealth through legal / tax compliant structures, while at the same time giving them and their asset managers control.
What is an asset protection structure?
In its most pure form, an asset protection structure is a legal structure through which the legal title of assets is split off from the equity and/or control of the original owner.
In the simplest form an asset protection structure requires a transfer of legal title of the asset(s) to a separate corporate entity with legal personality.
More sophisticated structures can involve the use of alternative financial instruments, contractual arrangements or alternative legal forms of business.
In other words, asset protection solutions are simply a form of continued wealth management for generations to come.
We encourage our (U)HNW partners to carry out asset and advice audits on a regular basis to ensure that the family wealth, however invested, continues to produce a good return on investment whatever the investments may be; equity, debt, commodities, passion investments, impact investments or charitable endeavours.
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In our today’s world UHNW international families have never before been more exposed to investigation and attack. They need to be prepared.
What is an asset protection structure?
Our shared experience: start early! A plan to protect assets works best when it is firmly in place before any risk event occurs. There is no single asset protection advice that will be practical and applicable to everyone all the time.
It’s also sound advice to review your asset protection plan regularly. New or updated legal tools may work better than your current mix of instruments.
Recent world events may be compelling enough to check how your plan will hold up under possible new threats. Make it a habit to conduct a review after a major event in your professional and/or personal life. Make sure your asset protection plan continues to support your current plans and future goals for your assets. If your plan is outdated, it will do a less-than-adequate job of securing your assets.
Since a few years now sensitive private financial information is to be exchanged across the globe, to and from tax authorities and financial institutions etc, from which there will be leaks and unfounded investigations. This poses great risks.
At Prosperity we understand these risks and the ways unscrupulous parties will try to undermine wealth ownership structures. Prosperity will guide you on how best to minimise the impact on your wealth of these threats and risks.
Conclusion
Protecting your assets takes many forms – from basic insurance coverage to the most sophisticated asset protection trust arrangements. A complex plan may not necessarily provide the ideal protection for your type of assets. It is important to keep in mind that the ‘best’ asset protection is the one that addresses and supports your individual needs and goals.
Corporate Services
On a daily basis we assist our entrepreneurial partners with setting up a company, branch or representative office in Switzerland and (EU) countries such as Luxembourg, Malta and the Netherlands, and also in Singapore and other compliant jurisdictions.
We can assist you on the tax consequences of setting up and maintaining a company, branch or representative office and guide you through the maze of procedures surrounding the setup of a company, branch or representative office.
We usually co-ordinate the actual set up of the company and handle the engagement of other service providers.
Our company formation services may include:
* tax advice on anticipated structure;
* confirmation of the tax position of the stake holders (shareholders, directors and employees);
* advice on most appropriate legal form;
* arrangement of registered address;
* information about the procedure to incorporate a new company, branch or representative office in the Netherlands (EU);
* provide an offer for the incorporation of a company and/or readymade and clean shelf company;
* coordination of the actual incorporation of a new company or the acquisition of the shelf company;
* coordination of the engagement of other service providers if required, like lawyers, public notaries, asset managers, banks etc.;
* tax registration of the company;
* ongoing tax compliance services, which may include administration, payroll services, the preparation and filing of the annual corporate income tax returns, the preparation and filing of VAT returns, Interstat and FATCA reports, etc.
Our approach
We invest in you and your business. We provide a personalised and holistic approach just for you to grow and preserve your family wealth over the long term.
Our holistic family office service offerings are built to meet the challenges of an increasingly complex global environment to grow and protect your wealth.
This service is “built around you”. Our aim is to take care of your legacy and create a future-ready and resilient to global shock waves – legal and tax framework enabling you to seize opportunities, manage risks, create meaningful impact and protect your family wealth – now and into the future.
We will start to conduct an extensive review through research and interviews to understand your past, current and future vision.
We help you create an overall strategic financial and succession plan that encompasses key areas (see our wealth care guide) that is truly built around your family. Regardless of the size, type or complexity of your organisation, we help you build the structure that best serves you to be future-proof and shock-resilient.
With you we will defining the purpose for the family and its wealth. Once we understand the purpose and needs of the family, we help you build the legal and tax framework to design each of the required components to seamlessly support your family’s legacy.
With our experience, we can prepare you for each step of the way –from assessment and vision to work plans and implementation. Together, we can help you design a strategy to manage the complexity that comes with a family-owned business.
