Services

Operating and exit phase

Operating and exit phase

Operative business, e.g. with shipping funds this could involve ensuring smooth operation of vessels, is just one aspect that needs to be monitored. Successful closed-end fund management also entails a number of administrative tasks such as accounting, preparation of annual reports, submission of tax declarations etc. In addition, we also maintain smooth communication between the shareholders and advisory boards, and ensure that general meetings are held. We often outsource some of these activities, investor management in particular, to external service providers, i.e. trust companies.

Along with issues relating to conventional corporation taxes such as trade tax and value-added tax, companies often have queries relating to the impact this will have on shareholders from a tax perspective as they need to know their tax contributions or any inheritance tax values in order to fulfil their tax obligations or to determine their tax gains due to the acquisition of shares.  

As a result, we offer a large portfolio for closed-end funds, including the following:

Operating phase services

• Accounting, preparation of annual reports and auditing of annual
  reports

• Practical assistance when preparing annual reports

• Preparation for general meetings; if only a small number of 
  investors are involved, we also organise the general meetings
  themselves and coordinate meetings with investors

• Participation in advisory board meetings and general meetings

• Preparation of tax declarations as well as taxable net profit/loss
  and verification of tax assessments  

• Preparation of tax declarations for foreign closed-fund investors

• Coordinating the tax situation with the fiscal authorities as 
  well as representation in legal and fiscal court proceedings

• Support during tax audits

• Point of contact for all other issues relating to (international) tax 

• Calculations such as total return calculations could be seen by
  investors as a link to a planned fund liquidation 

• Special commissions such as advising on reorganisations

Exit phase services

• Calculation of final dividends

• Legal advice on dissolving and winding up companies

• Tax advice on dissolution and capital gains

• Together with a trust company independent of the issuing house: 
  Investor communication work, preparation, drafting and checking 
  of shareholder information such as tax notifications or annual
  reports. Preparation of, participation in and support during
  advisory board meetings and general meetings