If you're considering selling or transferring your business, you're probably focusing on the business itself first. At KBC Private Banking, however, our key concern is how your personal wealth will be affected by the sale or transfer.
Your personal wealth following the sale or transfer
All of your time and energy will be going towards your business when the transfer is taking place, so it's a good idea to plan your personal situation in advance. After all, it's much more difficult to make adjustments once the transfer has taken place.
At KBC Private Banking, we provide you with a thorough analysis of your personal wealth before and after the sale or transfer. In addition to business advice, our experts offer you additional advice from a personal perspective. This all takes place in consultation with your SME adviser, your wealth guidance specialist and your accountant.
What is included in our guide?
1. Your wealth following the sale or transfer of your business
If you transfer your business, you will no longer receive any wages or benefits, and you will also have to do without your company vehicle.
- What are your plans after transferring your business, and how much capital do you need for that purpose?
- How can you calculate how much you will need to live 'comfortably'?
- What will you do with the funds you receive?
With the help of your dedicated contact, we'll map out your future while taking both your wealth and your wishes into consideration.
2. Your family
Selling or gifting?
- How does gift tax work when transferring ownership to your family?
- What rate is applied when gifting shares?
- Are the proceeds of a sale communal?
- How do you ensure your children don't resell your business after the gift?
- What happens if you outlive your children?
- How do you avoid your children paying high inheritance taxes on the proceeds you received from the sale?
3. Your home
- Is your home owned by your business? How is this best arranged?
- Can you buy a home on behalf of your children and then use that home?
4. Your activities
- How do you ready your business for a transfer of ownership?
- What about the valuation?
- What about capital gains on any shares that are privately owned?
You can also find answers to questions such as:
- Are you allowed to keep working once you retire?
- Is that allowed as part of a company?