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Family Office
For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).
China’s billionaire business families are setting up their own family offices at a phenomenal rate as ageing principals shift their priorities from wealth creation to preservation and succession.
Effective communication between generations is essential for family business longevity and succession, and it’s never too late for families to start, says Ron LaVelle, a trusted adviser to ultra-wealthy families in the Bay area at Seiler LLP. LaVelle tells CampdenFB how families can get the basics right, from professionalising the family business and setting up the family office, to hiring and keeping the right people.
This small Mediterranean country—known as the perfect blend of gorgeous coastline and dramatic mountains—has much more to offer than meets the eye.
Reimann family’s JAB Holding blends coffee brands, Lauder family fortunes rise as empire grows, Wallenberg family’s Electrolux makes white goods go green.
We are all familiar with the platitudes about trusts: great things if used right, offering potential solutions to asset protection, probate, tax and family issues. The concept of moving the legal ownership of an asset to an unrelated party while still retaining the benefit of it is useful in many contexts.
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