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