A Family Investment Company (“FIC”) is an option for individuals who are considering a wealth preservation and succession planning strategy. No two FICs are the same, and the structure of each company is bespoke to the family, assets and wealth involved. They are private companies, the shareholders of which are members of the same family and/or family trusts.
An FIC will have a memorandum and articles of association and a shareholders’ agreement. The memorandum and articles will be public documents, but the shareholders’ agreement is private and it is this that can provide for family governance procedures, although it may be supplemented by a family constitution. Importantly, there are no substantive regulatory requirements associated with FICs as there may be with other company structures. Read on to find out more.
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