Tax Structuring for Franchise Businesses

When starting a business, you will need to make a number of key decisions. One of the first and most important decisions is the type of legal structure that you select for your company. Corporate structuring works within the internal and external framework of your company and is incredibly useful in getting the best results for your company.

Having the right business structure will help your company to be successful and protect it from risks. There are several ways in which you can structure your business. The most common structures are sole proprietor, partnership and company. Depending on the purpose of your business, each structure has its own advantages and disadvantages. Generally, the legal structure you use for your business will have an impact on how much you pay in taxes. It will also affect the amount of paperwork that your business is required to do, the legal liability you face and the potential for future investment. As an entrepreneur, you must make decisions and take legal actions to structure your business. Otherwise, the law will make those decisions for you, and that can be detrimental.

While you should consider many factors in choosing the legal structure of your business, not all factors will apply to every business. Several key issues, however, will apply to most. These are:

Is the structure difficult to set up?

Is it expensive to register?

Do I retain complete control?

Are there complex reporting requirements?

Will my personal assets be under threat if my business goes into debt?

Do I receive full profits made from the business?

Can I change the legal structure easily?

Do I have the ability to plan tax through avenues like income splitting?

Is it easy to raise capital?

Is it easy to dissolve or exit?

Our dedicated team of professionals is able to provide considerable expertise in corporate structuring and will help you to get the best results for your company. We provide the following services:

Advising on the legal structures and the different ways to protect your assets

Designing the most efficient and beneficial solution that is tailored to your specific goals

Exploring other jurisdictions that are tax-friendly

Setting up inbound and outbound structures

Handling all administrative issues in relation with a setup

Providing controlled foreign companies planning services

Exploring tax-efficient options for the succession