• Family Businesses

Family Businesses

You can find it in almost every family business: the wall with photographs portraying the history of the business. In a small Island economy like Aruba, family businesses have been a driving force for years. But a family business faces unique challenges, not only in its day-to-day business operations, but also on the home front. Keeping a balance between business and family is not always easy, especially when multiple generations are involved in the business. Long term vision to ensure business continuity is key in a family business surviving. With a combined experience of more than 60 years in the family business, we know exactly what issues are current, how we can resolve these and prevent problems from occurring. Within BDO, specialized teams have identified the most important stakeholders in a family business: the family, family-owners, management board and the business. They indisputably form the core of each family business and must remain in perfect balance. Surrounding this core are the most important areas in a family business. This model can help you apply the appropriate agenda for the family business, contributing to continuity and harmony.

Our accountants, consultants and tax experts specialized in family businesses ensure that we can resolve any issues surrounding your family business from an integral approach. We can assist you with amongst others the following topics:

  • Family constitution
  • (emergency) succession/leadership
  • Implementation of (family)values / HR policies
  • Family governance
  • Ownership/financing of the family business
  • Next-gen programs

But beside these specific topics, we can assist you with issues relating to:

  • Internal and external audit
  • Business assurance and risk assurance services
  • IT reports and investigations
  • Tax planning and structuring
  • Transfer pricing
  • Employment taxes
  • Executive remuneration and expatriate tax services
  • Business reviews and strategic planning
  • Property and corporate acquisition and disposals
  • Installation of management reporting and controls and internal audit functions
  • Outsourcing
  • Financial reporting

Would you like to know more about how we can assist you? Please feel free to contact one of our professionals for an introduction meeting to determine if and how we can be of service to you.