Family Business

Comprehensive Family Business and Succession Planning Advisory

Our approach to family businesses and succession planning includes identifying the most efficient means to holding assets and investments, ascertaining appropriate succession plan and tools and determining the optimal timing of the transition. Tax and estate planning strategies are reviewed and assessed in order to minimize the income and capital gain taxes consequences of the transfer.

Where the funds have been moved outside the jurisdiction, we are able to call upon trusted lawyers from around the world specializing in asset tracing, freezing and recovery to assist us, and we are also able to supervise such practitioners on behalf of the clients.

Attachment before Judgement:

Third Party Disclosure Orders

For purposes of identification of assets that have been misappropriated, we regularly seek orders requiring banks and other appropriate third parties to disclose information. This is particular critical when attempting to trace funds that have been transferred to one or several banks accounts.

CM Advocates Uganda offers advice and guidance on several issues that may arise in the context of family owned businesses and succession planning:

• Business counseling
• Registration of assets or investment holding companies in Uganda or offshore jurisdictions;
• Sale of family business enterprises;
• Mergers, acquisitions and divestitures and other share deals;
• Advising family –owned business on setting of effective board
• Drafting of a Shareholders’ agreement for Family-Owned companies;
• Transfer of family properties to a family holding company (for ease of administration and tax efficiency);
• Tax advisory services including processing tax exemptions (where applicable);
• Transfer of family properties to a family company or between associated companies;
• Preparation of the Group Structure (where there are more than one companies);
• Drafting of a Family Charter or Constitution;
• Preparation of Board Charter for Family-Owned companies;
• Aligning your company’s Memorandum and Articles of Association to the shareholders’ agreement;
• Compliance and company secretarial matters;
• Corporate governance advisory including planning and executing a Succession Planning Strategy.
• Offering Trustee’s or nominee(s) services;
• Advising on labour and employment matters including HR Manual, Policy on Employment of Employment of family members;
• Advising on senior management or directors’ contracts and their remuneration structure;
• Preparation of local and foreign Wills;
• Set up of family trust(s);
• Helping in establishment of a Family Office;
• Registration of Family foundation or Charity;
• Equity incentives for family owners and non-family employees;
• Retirement planning;
• Minority shareholders protection;
• Dispute Resolution.

Conclusion

Your business and succession planning deserve the experience, and customized services, that CYMBELL Advocates will provide. Our team is ready to partner with you on all of your legal and business needs, and we are able to adapt to any unique issues and questions that may arise in your transition.

To learn more about our Family Business and Succession Planning Practice, contact us today. We look forward to partnering with you and being part of your succession story.