Ownership arrangements within the family differ in many ways from business sales and acquisitions. For example human relations, the position of the transferor, the fair treatment of the heirs and taxation should be taken into account in a specific manner. For this reason Suomen Yrityskaupat’s succession team is specialized in planning and executing ownership changes and development of the business within the family.
An improperly executed succession can have significant negative tax implications, which means that the manner in which the succession is executed is not irrelevant. We know how to advise on the effects of ownership changes on taxation, the business’ central contractual matters and pension provisions. You don’t need any other professionals to help you with your succession.
Our preliminary consulting is always free of charge, so don’t hesitate to be in touch about questions about ownership changes that preoccupy you or your family.
- We advise transferors and transferees of family businesses in the planning and execution phases as well as in after the transfer as the transferee’s mentor.
- Our team offers advice on e.g. how a succession is executed without capital gains tax or with as light taxation as possible.
- If needed our team guides the family business’ transferee to find financing for the transfer in order the execute the succession within the planned schedule.
- In a typical succession our team conducts a realistic valuation of the business, applies for a preliminary ruling from the tax authority to the transferee and prepares contracts of sale or deeds of gift as well as the company’s administrative protocols.
- If necessary, we help the transferee to start a business necessary for the change of ownership.
- Our team trains people in successions and changes of ownership in several training organizations and businesses.
Don’t be afraid to contact us. You can contact our succession and family business services either by calling
our national service number 010 2864 000 or by directly contacting the experts in our special team, whose contact information you’ll find here.
Things to remember in a succession:
- The transferor should not delay the succession. Young entrepreneurs are keen to run family businesses around the ages between 35 and 45.
- The transferee continues the business operations of the family business in a succession. However, it is also important to take the rest of the family into account in order for the whole family to feel fairly and equally treated.
- Family law documents such as testaments, prenuptial agreements and interest representation documents should exist in case of difficult situations.
- The level of entrepreneur’s pension should be verified as soon as possible.
- Successions involve a lot of emotions. However, a financier does not finance emotions, but a lucrative business.
- Using experts specialized in successions leads to the best results.
- Using independent experts makes difficult conversations within the family easier and makes it possible to reach a good solution.
- Lucrative business attracts heirs of the family business to become transferees, whereas non-lucrative business makes the heirs select careers elsewhere than in the family business. Discuss how your business can be better prepared for a transfer with our experts.
Read more about succession here