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How do wealth taxes affect family businesses?

April 20, 2023

The pandemic, the war in Ukraine and the economic recession that has followed, have, once again, sparked a new debate on taxing the wealthy. But, as Professor Raul Barroso discusses, such taxes might lead to unintended, negative repercussions.

The Covid-19 pandemic, the war in Ukraine and the economic recession that has followed, has, once again, sparked a new debate on taxing the wealthy.

Portuguese government to bailout family-controlled Banco Espirito Santo

August 4, 2014

Portugal’s government has announced a €4.9 billion plan to save family-controlled Banco Espirito Santo, the country’s largest listed bank, after a series of financial scandals threatened to run the 94-year-old lender into the ground.

But while taxpayers and senior creditors will be protected in the package, shareholders, particularly the Espirito Santo family, and junior bondholders will be left with toxic assets.

Investor visas: the keys to the world?

July 30, 2014

They say a golden key opens all doors and, with the right amounts of investment, buying residency or nationality to the country of your choice is no exception. So what are the various options for investors with the funds to spend?

Straitened economic times have brought a new lease of life to a well-established concept: investor visas. Cash-strapped governments looking for more ways to shore up their tax base and international investors seeking more global opportunities are just two of the drivers in the recent boom in immigrant investor or citizenship-by-investment programmes.

Family business roundup: Espirito Santo Group, Mori Trust, L'Oreal, Rottapharm Madaus

July 11, 2014

Espirito Santo Group fears trigger stock sell off; Mori Trust meets increased tourism with new hotels; Rottapharm Madaus scrap IPO; L’Oréal buys back shares from Nestlé.

Espirito Santo Group fears trigger stock sell off; Mori Trust meets increased tourism with new hotels; Rottapharm Madaus scrap IPO; L’Oréal buys back shares from Nestlé.

Espirito Santo Group fears trigger stock sell off

Share prices at Portugal’s largest listed bank fell more than 17% on Thursday after parent company Espirito Santo International (ESI) missed debt payments “to a few clients”.

Switzerland tops tax domicile list for entrepreneurs

October 24, 2013

Culture, education and the cost of living are all factors to take into consideration before emigration, but when it comes to tax incentives Switzerland is the top domicile – at least if you’re an entrepreneur.

According to the Global Opportunities report, released by BDO this week, the UK has the next most appealing tax regime, followed by Monaco.

The report said an entrepreneur should be looking primarily for tax benefits on dividends taken from their personal company, or capital gains realised on the sale of a company.

Family business roundup: Profits up at Jeronimo Martins, down at ERG and Matalan

March 7, 2012

Portuguese family business Jeronimo Martins posted strong results this week, while Italian energy group ERG and British retailer Matalan reported large falls in profits.

Jeronimo Martins, the food retailer controlled by the Dos Santos family, said revenues jumped 13.2% in 2011 to €9.84 billion, from €8.69 billion in 2010.

In a statement released on 7 March, the Lisbon-based group added that net profit for 2011 was €340 million, compared to €281 million in 2010 – a 21.1% increase.

Family takes control of wine business

June 3, 2011

The Madeira-based family-controlled holding company, the Blandy Group, has regained control of the Madeira Wine Company in a move designed to consolidate the family company’s operations after 200 years of continuous business.

Michael Blandy, sixth generation chairman of Blandy’s, told CampdenFB that the stake of majority shareholders in MWC – family-owned Symington Family Estates –will be reduced to a small percentage. He wasn’t prepared to elaborate; Symington previously owned 56% in the Madeira Wine Company.

Sogrape – a firm with a good vintage

January 1, 2008

The family behind wine-maker Sogrape has battled through wars and acquisitions to produce of one of the world’s most popular wines. Rodrigo Amaral talks to third-generation chairman Fernando Guedes about the firm’s international strategy

The family behind wine-maker Sogrape has battled through wars and acquisitions to produce of one of the world's most popular wines. Rodrigo Amaral talks to third-generation chairman Fernando Guedes about the firm's international strategy

A vintage blend

May 1, 2006

Port remains one of the world’s most popular wines and one of Portugal’s most successful exports. Through innovation and a good sense of direction, its most famous dynasty has remained in family hands. Mark Dye tells the story of Taylor’s

Mark Dye is a freelance journalist based in London.

Port remains one of the world's most popular wines and one of Portugal's most successful exports. Through innovation and a good sense of direction, its most famous dynasty has remained in family hands. Mark Dye tells the story of Taylor's