Tax Structuring, Inheritance Planning and Administration
We help companies to manage and control participations, while also protecting and maintaining worldwide assets. We incorporate companies, holding entities, establish trusts and foundations, dedicated securitized products, or set up funds and perform administration services for different structures. Our office will consider the assets, income needs and taxation concerns of family office and high net worth individual clients so that they can achieve the financial instruments, structures and fund managers that are best suited to their needs.
Economic Advice, Financial Instrument Engineering, Selection of Portfolio Managers and Supervisory Role
We support our clients in choosing suitable financial instruments, structures, and managers while taking into account the different assets, regular income requirements and taxation issues in order to provide portfolio analysis and increase yield on the portfolio. Valuations are available, upon request, to detail historical purchases, market value, realised or unrealised gains/losses, and portfolio return. Cash forecasting is aided by a cash ladder and detailed analysis of cash transactions.
Wealth Consolidation and Dedicated Reporting
We advise our clients on how to simplify and improve transparency with adequate reporting procedures regarding the valuation of assets, incomes, risks, correct follow up in relation to external administrators, transfer agents, and fair reporting for legal or tax authorities. Typical family office administration difficulties involve:
- holding several types of asset (quoted or non-quoted, private equities, real estate, non generating income possessions, art works, etc.);
- in different forms (holding directly, in trust, via investment funds, in nominee through their bankers, in common ownership with other family members or third parties);
- in different countries (their country of residence but also in many others where they have former interest, where they were born, or where their bankers have sub custody, etc.).
Redomiciliation & Concierge
Becoming a resident of Luxembourg can greatly enhance your tax position and aid the activities for family office. Hoogewerf & Co can help you meet your personal and family financial objectives through intelligent and targeted wealth and asset management.
We are also on hand to provide guidance in relation to investments, taxation and asset consolidation with all the information you need to become resident. In this light, we help with: administration requirements during a move to the Grand Duchy Luxembourg; selection of external services experts such as estate agents, bankers, insurance brokers, etc.; selection of a home/s and handling of interior design and decoration requirements to these properties; registration on arrival and the processes for the family and pets; drivers licences, vehicle registration and the process for vehicle re-registration in Luxembourg; personal secretary services etc.
Whether the art collectors are buying for; themselves, as speculative investment, for a foundation they wish to set up, or for a museum, there are many types of legal structure they should consider. Among them, the collector might consider placing art works into a Private Foundation, or setting-up a Specialised Investment Fund in Luxembourg.
Private collection may also be held through a tax transparent entity of which the promoter will be the founder, general partner and the other members of the project or the family, might be limited partners.
Private Banking in Luxembourg
Our clients have the choice of banking with more than 170 banks from around the world. Private banking has been a traditional activity in Luxembourg for more than 40 years and banks, alongside other financial sector professionals, have been providing sophisticated services to family offices and individuals throughout this time. Portfolio management is an important element in the spectrum of services available in Luxembourg. We help select and monitor asset management professionals (please note that Hoogewerf & Co is not responsible for asset management and will only provide general economic advice); We negotiate with bankers, fund managers or financial institutions while keeping an eye on counterparty risks, costs and expertise.
Passing on a business to the next generation is a difficult and challenging process. Only one-third of all family businesses are successfully transferred to the next generation and only 13% are transferred onto the third generation. The primary reason for this low survival rate is the failure to develop and effectively plan for the transfer of ownership and management of a closely held family business. Children and relatives may not have the same drive and commitment; they may go to well-known schools, get a taste of the good life and then may not share the passion of the business founder for the hard work required in the chosen business sector. We assist our clients in transferring the business to their heirs and keeping control over it, selling the business to a third party or listing the business and hiring professional management to run it.
We support you every step of the way, from initial vision and planning through to implementation and ongoing management of your charitable projects or trusts and foundations.