174. When Do You Need to Set up Your Hold Company?

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?

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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

QUOTES:

• 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.

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