At Welllaw, we are aware of how important Family Companies are to the socioeconomic sustenance our region. We are also aware of the huge difficulties founding partners of a Company may find in successfully managing the Company-Family dynamic, mainly in transferring functions to younger generations.
According to data collected from official sources, in Spain, Family Companies make up over 85% of the business network, generating around 70% of the GDP and private jobs in our country. However, numbers and statistics also show that only 30% of Family Companies are managed by a second generation, and unfortunately, only 10% by the third generation.
Heeding to the importance of supporting and encouraging the sustainability and survival of our main economic driver, at Welllaw we decided to create a Department specialised in multi-disciplinary consulting services for Family Companies. The department has professionals who are qualified in all Family Company areas, with such a degree of understanding and empathy that our office has become a point of reference all over the country in consulting and constantly supporting Family Companies and all their members.
Some of the services provided by our Family Company department:
Company Consulting:
1.- Planning and implementing highly efficient corporate structures in terms of operations and management, which also reduce the tax burden for the Company and its owners (Inheritance and Gift Tax, Property Taxes, etc.).
2.- Establishing holding companies, whose purpose is to restructure the Company and Family capital.
3.- Planning and drawing up statutory and shareholder agreements to regulate operation of the Company’s management entities, and their harmonious, yet detached, relation with agreements necessary for the Family side.
4.- Consulting and planning regarding the Family Company Administration Entity’s remuneration system, avoiding potential Tax and Social Security contingencies.
5.- Creating hiring protocols for family members, career plans and compensation policies.
Family Consulting:
1.- Planning and implementing measures to facilitate and encourage company and capital succession.
2.- Preparation of Family Protocol, by diagnosing the configuration of the company and the family, configuring rules and protocols that are appropriate to harmonise the company and family relation.
3.- Wills.
4.- Constant consulting services for the Family Committee.
5.- Mediation and conflict resolution in Family Company management and in fulfilling extra-statutory agreements.
