Economic and socially, family businesses play a notably prominent role in Spain, and the national wealth they generate and the jobs they create bear witness to this. Nevertheless, it is also worth noting that a substantial proportion of family businesses do not survive beyond the second or third generation.
The family businesses that have achieved steady, consolidated growth over time are those who have known how to address the three core issues that confront all family businesses: ownership, the family and management.
Garrigues has an office that provides a longstanding multidisciplinary service, offering specialist tax and legal advice and consulting services for family businesses. To do so, a complete understanding of how the business works and a particular sensitivity to inter-family relations lie at the heart of our professional approach, backed up by our close geographic proximity to clients (with 27 offices throughout the Iberian Peninsula) and a steadfast commitment to quality and to serving our clients.
Our interest in family businesses has led us to create Garrigues Empresa Familiar, a forum for academics and professionals alike in all family business-related areas.
Tax and Legal Advice
- Design and total implementation of structures to reduce owners’ tax costs (personal income tax, wealth tax, inheritance and gift tax)
- Business reorganizations
- Formation of holding companies, foundations etc.
- Planning of handover processes
- Evaluation of assets
- Wills
- Partner/company relations
- Drafting of bylaws
- Non-bylaw side agreements
- Legal aspects of family protocols
- Advice on and conduct of processes for the sale and purchase of family businesses
- Due diligence reviews, negotiations, contracts
- Tax and legal planning for the liquidity obtained
- Design of tax-efficient vehicles to finance acquisitions
- Tax planning for family businesses
- Corporate income tax
- Liquidity mechanisms
- Exploitation of tax exemptions and reductions for family businesses
Consulting services
- Generational change
- Diagnosis
- Evaluation of scenarios
- Preparation for the process
- Change management
- Family protocols
- Process management
- Formal drafting
- Monitoring and updating
- Definition of the family’s values and mission
- Family business information policies
- Ownership commitments
- Political control
- Liquidity systems
- Family boards
- Signatures
- Professionalization of family businesses
- Diagnosis of the professionalization model
- Change management in the organization
- Board of Directors
- Non-family professionals
- Training and mentoring
- Integration of family and business strategy into the professionalization process
- Internationalization
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