Are you a commercial farmer? Maybe you are.
contributes 2/3rds to New Zealand’s exports. With growing world demand,
agri-business growth is assured. Your business needs to be structured to
enable you to maximise growth and new business opportunities, and to protect
the gains you have already made.
Dewhirst Law are experts in creating clear, simple and cost-effective structures to manage your assets and your farming business. We make the process quick and easy, so you can get on with the job of farming.
Tax is an important consideration. We will work with your advisor to ensure that your business structure is efficient, and maximises the benefits to you.
Companies create separation of the business from your personal or
trust assets. Shares can be issued to multiple owners and investors, and
control can be maintained in the hands of majority shareholders. While day to
day decision making lies with directors, shareholders can implement controls
and limits on how the company operates.
Companies create a clear line between ownership and management and
can prevent family squabbles.
Companies are perfect when you are managing
multiple businesses or farming operations. They provide clarity, and also allow
independent parties to work together.
We can create a shareholders’ agreement to govern the relationship
between shareholders and directors, as well as provide a constitution to give
effect to those intentions. We can personalise your company to suit your
business, and relationships between your key people.
Trusts are often used to hold substantial property, including the farm. They can protect assets from creditors and relationship breakdowns, and keep them safe for the beneficiaries. Trusts also provide a straightforward succession vehicle for land. We can tailor a trust with your family’s circumstances in mind.
Sole trading and partnerships
Sole trading and partnerships leave the assets and decision-making in the hands of the individual farmer. They are commonly used due to their straightforward nature. However, the demands of the modern farming business, and the outside risks to the family and farm, probably mean that a tailored ownership and management structure is best for you and your assets.