Family investment companies – an alternative to trusts

I first started getting questions from clients as to whether they should be setting up a family investment company (FIC) about ten years ago. At the time, they tended to be infrequent and usually from fairly financially sophisticated clients. However, that has now changed and FICs appear to have become more popular than ever. Setting up a FIC is expensive (setting one up starts at a few thousand pounds but can easily climb up to £20,000, and running costs are in the range of £3,000 - £10,000 per annum) so it is essential to consider if they are the right choice for you before proceeding....