Particularly in your case, Gael, I believe you’ll need correct authorized, insurance coverage and accounting recommendation up-front and ongoing. This might value just a few thousand {dollars} initially, in addition to yearly thereafter.
What’s a holding firm?
In Canada, you may have a holdco. That is only a nickname for “holding firm,” which is a company that owns property. Usually, the property embrace money and investments, however they will embrace different property like actual property—or, in your case, merchandising machines and ATMs.
In case your company will personal actual property in addition to keep on different enterprise actions, it could technically be thought of an “working firm”—or “opco”—in addition to a holding firm or holdco.
Some companies will keep two separate companies: an opco and a holdco. If the opco might have danger that would lead to a lawsuit, for instance, holding property in a separate holdco could make sense to maintain them secure.
If an opco could also be bought sometime, preserving holdco property separate could also be crucial as a way to qualify for the lifetime capital positive factors exemption and maintain your company financial savings and different property separate.
In your case, it is perhaps less complicated to maintain every little thing in a single company, however there are execs and cons. And, in fact, you need to search authorized recommendation.
Use of shareholder agreements
It could even be advisable to make use of a lawyer to develop a shareholder settlement. When you have your personal company, otherwise you and your partner personal an organization, this might not be as essential. However after you have different shareholders, particularly buddies or enterprise companions, a shareholder settlement is essential.
This settlement can take care of conditions like if one of many shareholders turns into disabled, will get divorced and even dies. It may take care of conditions the place there are disagreements between shareholders. Within the case of your property, what if some shareholders wish to do a renovation and others wish to promote the property?