Wealth Without Bay Street 174: When Do You Need to Set up Your Hold Company? with Henry Wong
Every Canadian entrepreneur thinks of minimizing the level of exposure of their operating company. To achieve this, you can establish a holding company wherein funds can be moved outside the operating company and help cushion your capital from exposure in the event of creditors, legal liabilities, or any unforeseen circumstances.
Learn how to make this possible for your business. WATCH: When Do You Need to Set up Your Hold Company?
FREE report 7 Simple Steps to Becoming Your Own Banker – http://7steps.ca/
Get our Bestselling Books:
- Canadians Guide To Wealth Building Without Risk: https://wealthwithoutbaystreet.com/wwbs-book-1/
- Cash Follow The Leader: https://cashfollows.com/
IN THIS EPISODE, YOU WILL LEARN:
[00:33] Introduction: Have you ever wondered why Canadians set up a holding corporation?
[04:54] The purpose of incorporating company based on the usage of “holding”
[10:27] How to shield the operating assets of the company
[13:07] “Purify the business” so that you can actually take advantage of tax exemption rule that exists for Canadians who own a company
[21:43] Henry Wong on proper generational transfer or estate planning [00:26:58] Find audit tested and experienced professionals
[36:57] The tax deferral equation
[40:21] The power of dividend-paying life insurance in the corporate environment
[43:23] Know the possible disadvantages for Hold Co., which is the incorporation costs & more
- Don't keep all of your proverbial eggs in one corporate basket.
- The holding company is the strategic second layer behind operating companies.
- The risks of building your business and holding company in different assets are ever-present.
- A family banking system includes a personal and a corporate environment, and a holding company is just another aspect of the equation.
🎙️ WEALTH WITHOUT BAY STREET LINKS:
Podcast Website: https://wealthwithoutbaystreet.com/
Follow us on Facebook: https://www.facebook.com/wealthwithoutbaystreet/
Subscribe to our Youtube Channel: https://www.youtube.com/channel/UCj8ZlieHodxhD0vC75-rq0g
Book a 15-minute call: https://www.ascendantfinancial.ca/schedule/?LeadSourceId=427
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
🤝 Join Our Community! https://www.facebook.com/groups/wealthwithoutbaystreet/
📚 IBC RECOMMENDED BOOKS
📽️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
#WWBS #RichardCanfield #HenryWong #theinfinitebankingconcept #holdingcompany