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SOUNDBITES 2015-2016


5


SUCCESSFUL STRUCTURING FOR INTERNATIONAL BUSINESS FAMILIES [ ROSE CHAMBERLAYNE ]


The focus in this talk is really on family governance. Governance does not have to complicate a structure. On the contrary, it can provide a real focus for structures, and can simplify and manage often emotional and discordant family and business issues into an orderly, formalised and energised framework… The first family business I advised – on qualification over a decade ago – was founded by two brothers, who reared chickens in their back yard. They rung the necks themselves and then sold them on to local restaurants. They then took the company through to flotation around 30 years later, eventually selling their majority shareholding. On this huge liquidity event, they recognised the need for a newly-focussed long-termwealth strategy both for themselves, for each of their respective family branches, and for the family as a whole. They embarked upon a governance exercise to unify the family, promote and preserve their legacy and core values, and to provide a collective investment structure for the family as a whole.


FROM THE MONTE-CARLO MEETING, OCTOBER 2015


Not yet an ITPA member?


l Uncle George in Dublin is trustee of grandfather’s settlement. Do the new EU rules require him to register the names of all beneficiaries?


l The principessa has a house in Belgravia, but no other UK connection. How long each year can she stay in it without becoming resident in the UK?


ITPA members learned the answers to these questions, and others, in talks given at ITPA meetings this year. All members had access to transcripts of them in the Journal.


If you would like to benefit from this and other information not available elsewhere, join the ITPA today. You’ll find a membership application form on page 38 and on our website, atwww.itpa.org.


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The ITPA Green Book 2017 www.itpa.org


035


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