The client has been passionate about introducing the sport to the younger generation. He started with his academy under a sole proprietorship. His vision is to also help/sponsor upcoming and deserving talent.
Concern areas:
- To come up with the best structure for the academy to pursue his vision
- To engage a firm that understood multiple tax jurisdictions and implications
- To give him a platform which could take care of all his personal assets including financial and real estate investments in India and overseas
- To come up with an effective business plan and help him choose engagements beyond his active playing career
Our solutions:
- We structured two separate vehicles for the academy — one, to conduct and record all economic activity, and the other, a section 8 company, for scholarships and sponsored events. A structure in the USA was put in place to accept donations from his fans all over the world
- Our internal tax team consolidated and managed all his tax reporting, compliance, and strategy to optimize his global incomes
- We identified 2-3 business ventures, along with his talent management company, for him to be actively involved, post his active sports career
- We came up with an investment policy statement for his assets in India and overseas
- We built a small team to run the business operations
