Built to Last: Family business succession

KPMG Family Office is family-oriented, assisting family members in thinking about the major issues related to family and business succession. We also assist families in building an exclusive governance platform, and with our wealthy practical experience and independent perspectives, to interact and communicate with family members in the best interest of the family as a whole, helping to build family consensus and develop a succession strategy that will achieve family prosperity, and long-term business development.

Our services

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Wealth & Risk

Family financing plans and policies
Arrangement of the ownership structure of family assets (including the planning of domestic and foreign investments)
Family assets liquidity management
Planning and establishment of family asset management policies
Profit sharing policy of family assets
International portfolio tax governance
Establishment of family venture capital or private equity funds

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Governance

Planning and formulation of family constitutions
Family governance mechanism
Planning for the operation of the family council
Family business ownership succession mechanism (such as plans related to holding companies, foundations, and trust services)
Communication mechanism between family members and the family business
Share ownership policy for the family business
Selection and evaluation mechanism for family members to work in the family business
Family decision-making and communication mechanisms

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Tax & Laws

Family tax governance
Overall tax arrangements for family businesses
Trust planning and arrangements
Insurance policy for family members
Testamentary arrangement
Family agreement documents (such as Shareholders’ agreement)
International taxation of family members

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Growth & Succession

Successor cultivation and succession blueprint
Corporate growth and transformation strategies
IPO planning and relevant services
M&A and Restructuring

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Philanthropy

Consultation on the establishment of domestic and foreign trusts and foundations
Operation of family social enterprises

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The Family Office Service Team covers governance, business development, succession, wealth management, and philanthropy, providing services related to finance, accounting, taxation, law, and consulting to meet the needs of clients of the family business.

Family business succession procedures

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Succession awareness initiation

The establishment of succession concepts
Review of succession aspects and capabilities
Initiation and communication of succession issues

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The formulation of succession strategies

The link and transmission mechanism between family values and corporate values
The link between family governance and corporate governance mechanisms
Succession planning and successor cultivation
Ownership arrangements
Wealth preservation and family welfare

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Implementation of the succession strategy

Establish an effective communication mechanism between family and corporation
Ensure effective communication and implementation of succession strategies
Mitigate any possible barriers to succession
Minimize the internal and external costs of succession
Always maintain the flexibility of change

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Subsequent maintenance management

Keep family meeting records to ensure effective communication
Confirm that, for relevant issues, a consensus has been reached among family members via multi-directional communication including oral means and written forms
Ensure the validity of information and effective communication with all stakeholders by keeping meeting agenda and records
Regularly review relevant issues to ensure the suitability of family business regulations
Provide comprehensive tax, accounting and legal services and resources to meet customer needs