Who is the Buyer
Before you sign the contract you should obtain advice in relation to the best entity to purchase the business. In order to make that decision you should speak with us. It is our view that the best entity to purchase a business is a corporate trust structure. There are two options that work best in most situations:
1. a company that has as its shareholder a family trust or
2. a Trust that has as its trustee a corporation
This structure is however only suitable if the controllers of the business are all part of one nuclear family unit. If other family's or entities are involved then a more complex structure is needed as the arrangement will be more in the nature of a partnership.
We can prepare a trust for as little as $600 plus GST
We can set up a company for $1200 plus GST
You can prepare a trust online by following this link Prepare a trust. If choosing option 2 we do suggest that you set up your corporate trustee before preparing the trust.
Please contact us to discuss these options and decide which works best for you.
Riba Business Lawyers Ph 54791488