Criteria for Carrying on Business

We use the following criteria in determining the best method of carrying on business:

   1. What forms of business are legally possible;
   2. Limit liability;
   3. Perpetual existence of the business;
   4. Succession and estate planning of the client(s) and business;
   5. Number of proprietors;
   6. Relationship of the proprietors;
   7. Borrowing costs;
   8. Costs;
   9. Citizenship requirements;
  10. Flexibility of Structure; and
  11. Income Tax planning

All of the abovementioned must be used to effectively determine the most appropriate method for business and often requires a team of professionals i.e. lawyer, accountant, tax and financial planner, which we can arrange for our clients.

by Ryan Carson