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Dr Niklas Schmidt
Specialism: Lawyers Tax Property Private Client Litigation Corporate and Regulatory Estate Planning Immigration
Company: Wolf Theiss
Location: Vienna, Austria
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Average client size: £5 million - £25 million
Fixed fee offering: Yes
Number of offices globally: More than 5
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Global relocations for UHNW to Austria
I am advising various UHNW and wealthy families on relocation to Austria, including an individual moving from Monaco to Austria, a retired couple coming from Brussels, a retired Dutch individual and a family coming from Hong Kong, who had established a Liechtenstein foundation following the introduction of the "Rubik" (flat rate withholding tax) agreement between Austria and Liechtenstein.
Advising on corporate governance as twenty children waiting to take over family business
We advised a Polish family operating one of the country's leading agricultural businesses on how best to structure their affairs by using an Austrian private foundation. This business is currently being run by five siblings, and was set up by their parents a few decades ago. In the next generation there are around twenty children, and the five siblings are naturally concerned what this will mean for the continued success of the company. We were asked to advise the family on the corporate governance and tax aspects of the Austrian private foundation.
Advising the acquiror of a valuable painting
We advised a Monaco-based HNWI on acquiring a very valuable painting by a well-known Viennese artist of the early 20th century. The sellers were the descendants of a Jewish individual, who had to flee from Austria and who died in a concentration camp.