股公司是指通過(guò)持有某一公司一定數(shù)量的股份從而對(duì)該公司進(jìn)行控制的公司,?？毓晒静坏珦碛凶庸驹谪?cái)政上的控制權(quán),，而且擁有經(jīng)營(yíng)的控制權(quán),，并對(duì)重要人員的任命和大政方針的確定有決定權(quán)，甚至可以直接派人去經(jīng)營(yíng)管理。

A stock company refers to a company that controls a company by holding a certain number of shares. The holding company not only has financial control over its subsidiaries, but also operational control, and has decision-making power over the appointment of important personnel and the determination of major policies, and can even directly send personnel to operate and manage.

設(shè)立控股公司的優(yōu)勢(shì)

Advantages of establishing a holding company

總體由言,，控股公司的優(yōu)勢(shì)在于：有利干強(qiáng)化大股東控制權(quán),；有利公司行收稅收籌劃；有列于開(kāi)展企業(yè)多元化業(yè)務(wù)：有利于管理與傳承家族財(cái)富,。

Overall, the advantages of a holding company lie in: strengthening the control of major shareholders; Favorable company revenue tax planning; It is conducive to conducting diversified business for enterprises, which is beneficial for managing and inheriting family wealth.

有利于強(qiáng)化大股東控制權(quán)

Beneficial for strengthening the control of major shareholders

通常而言,，我們?cè)谠O(shè)計(jì)股權(quán)激勵(lì)方案時(shí)，都會(huì)在頂層設(shè)計(jì)仿木建議企業(yè)成立一個(gè)家族控股公司,，持股比例好超過(guò)50%,。一方面，在控股公司持股的股東都是家族成員,，家族成員對(duì)企業(yè)經(jīng)營(yíng)的意見(jiàn)發(fā)生分歧時(shí),，所有問(wèn)題都會(huì)放在公司內(nèi)部結(jié)局，對(duì)外始終保持一個(gè)聲音,，這樣就可以免因股東意見(jiàn)不一致導(dǎo)致的企業(yè)經(jīng)營(yíng)波動(dòng),。在保持股權(quán)架構(gòu)的同時(shí)也確保大股東對(duì)公司的控制。

Generally speaking, when designing equity incentive plans, we would suggest at the top level that companies establish a family holding company with a shareholding ratio of over 50%. On the one hand, the shareholders holding shares in the holding company are all family members. When family members have different opinions on the operation of the company, all issues will be brought to the internal end of the company, and a voice will always be maintained externally. This can avoid business fluctuations caused by shareholder disagreements. Ensure control over the company by major shareholders while maintaining the equity structure.

另外,，成立控股公司也相當(dāng)于在股東層面設(shè)立了一道防火墻,。控股公司作為一種制度安排,，通過(guò)持股,、業(yè)務(wù)、管理人員等方面的限制,。在母公司與附屬機(jī)柜之間,，以及附屬機(jī)構(gòu)相互之間設(shè)置屏障，旨在隔斷各種業(yè)務(wù)之間的風(fēng)險(xiǎn)傳遞,，以防止風(fēng)險(xiǎn)相互傳染。由于存在防火墻,，控股公司內(nèi)部產(chǎn)生的矛盾不會(huì)傳遞到下屬業(yè)務(wù)公司,。同樣的業(yè)務(wù)公司出現(xiàn)的一些經(jīng)營(yíng)風(fēng)險(xiǎn)也不會(huì)透過(guò)控股分司傳遞到大股東本人身上。

In addition, establishing a holding company is equivalent to setting up a firewall at the shareholder level. Holding companies, as a form of institutional arrangement, are restricted in terms of shareholding, business, and management personnel. Set up barriers between the parent company and affiliated cabinets, as well as between affiliated institutions, with the aim of isolating the transmission of risks between various businesses, in order to prevent the transmission of risks to each other. Due to the presence of a firewall, conflicts arising within the holding company will not be transmitted to its subsidiary business companies. Some operational risks of the same business company will not be transmitted to the major shareholders themselves through the controlling subsidiaries.

有利于公司進(jìn)行稅收籌劃

Beneficial for the company's tax planning

成立控公司后,?？毓晒緩闹黧w公司獲得的分紅收益可以不必分紅到控股公司股東，而是直接由控股公再次用投資,、消費(fèi),，這部分資金不需要再繳納企業(yè)所得稅和個(gè)人所得稅。相反,，若是自然人直接持股,，雖然分紅收益可以直接給自然人，但該收益必先扣除個(gè)人所得稅后方能用作其他用途。因此,，從企業(yè)多元化的角度看,，控股公司在一定層面上可以進(jìn)行稅務(wù)籌劃。

After establishing the controlling company. The dividend income obtained by the holding company from the main company does not need to be distributed to the shareholders of the holding company, but can be directly reinvested and consumed by the holding company, without the need to pay corporate income tax and personal income tax. On the contrary, if a natural person directly holds shares, although the dividend income can be directly given to the natural person, the income must be deducted from personal income tax before it can be used for other purposes. Therefore, from the perspective of corporate diversification, holding companies can carry out tax planning to a certain extent.

控股公司在稅務(wù)籌別上一般是圍繞以下幾個(gè)目標(biāo)進(jìn)行的：（1）遞延繳納股息收人的所得稅,，在一般情況下,，母公司只有在收到子公司匯入的股息后。才能把這部分股息還原為應(yīng)稅所得公司積,。如果控股公司作為一個(gè)子公司,，股息不匯入母公司，就可以遞廷繳納母公司的所得稅

Holding companies generally focus on the following objectives in tax classification: (1) deferring income tax on dividend payments. In general, the parent company only receives dividends from its subsidiaries. Only then can this portion of dividends be restored to the taxable income of the company. If the holding company is a subsidiary and the dividends are not remitted to the parent company, it can submit to the court to pay the income tax of the parent company

(2)增加稅收抵免限額,。這是指建立控股公司后,，可以把原來(lái)由各個(gè)子公可分別計(jì)算稅收抵免限額改變?yōu)榫C合計(jì)算。在各個(gè)子公可不出現(xiàn)虧損的情況下,，綜合計(jì)算要比分別計(jì)算分到更多的抵免限額,。（3）遞延繳納資本利得的所得稅。在控股公司所在國(guó)免證資本利得所得稅的條件下,，母公司的財(cái)產(chǎn)若通過(guò)控設(shè)公轉(zhuǎn)讓,，其增益若不匯入母公司，可遞延納所得稅,。

(2) Increase the tax credit limit. This means that after establishing a holding company, the tax credit limit that was previously calculated separately by each subsidiary can be changed to a comprehensive calculation. In the case where each subsidiary company does not incur losses, the comprehensive calculation should allocate more credit limits than separately calculating. (3) Deferred payment of income tax on capital gains. Under the condition of exemption from capital gains income tax in the country where the holding company is located, if the assets of the parent company are transferred through the holding company and the gains are not remitted to the parent company, the income tax can be deferred.

同時(shí),，由于控股公司所獲得的分紅收益是無(wú)法直接分到自然人股東手中的，所以我們?cè)谶M(jìn)行股權(quán)激勵(lì)時(shí),，好預(yù)留一小部分股權(quán)在控股公之外,，以自然人方式持有。公司上市后,，股東可以通過(guò)二線市場(chǎng)拋套套現(xiàn)一部分用以改善個(gè)人及家庭生活

At the same time, as the dividend income obtained by the holding company cannot be directly distributed to natural person shareholders, it is advisable to reserve a small portion of equity outside the holding company for natural person ownership when conducting equity incentives. After the company goes public, shareholders can use the second tier market to sell and cash out a portion to improve their personal and family life

有利于開(kāi)展企業(yè)多元化業(yè)務(wù)

Beneficial for conducting diversified business for enterprises

控股公司財(cái)力厚,，為了加速資產(chǎn)增值，減少市場(chǎng)風(fēng)險(xiǎn),，普遍采用多元化經(jīng)營(yíng)戰(zhàn)略,。公司若想開(kāi)展其他業(yè)務(wù)，控股公司會(huì)提供一個(gè)很好的平臺(tái),。其所獲收益不僅僅可以投資到主體公司,，也可投資到其他產(chǎn)業(yè)，為多元化發(fā)展打下基刷,?？毓晒具M(jìn)入市場(chǎng)經(jīng)濟(jì)的多種領(lǐng)域，產(chǎn)品注重系列化和多元化,，因而競(jìng)爭(zhēng)發(fā)展能力較強(qiáng),。

The holding company has strong financial resources, and in order to accelerate asset appreciation and reduce market risks, it generally adopts a diversified business strategy. If the company wants to carry out other businesses, the holding company will provide a good platform. The profits obtained can not only be invested in the main company, but also in other industries, laying the foundation for diversified development. Holding companies enter various fields of the market economy, emphasizing product serialization and diversification, thus having strong competitive development capabilities.

有于管理與傳承家族財(cái)富

Beneficial in managing and inheriting family wealth

成立一個(gè)家族控股公司,，并將家族所有成員納入其中。理論上控股公司內(nèi)部的股權(quán)可以進(jìn)行分配,。但是分配比例也要遵循一般企業(yè)的原則不能太過(guò)相近,，好讓企業(yè)家自身?yè)碛锌刂茩?quán)。盡管作為一個(gè)家族,，股比及話語(yǔ)權(quán)可以進(jìn)行協(xié)商,，然而考慮到日后的家族變故或股權(quán)傳承，太過(guò)平均的股份很容易留下隱患,，即便子女一代傳承不存在問(wèn)題,，到了孫子女可能就會(huì)出現(xiàn)問(wèn)題。因此假設(shè)某4口之家的控股公司,，可以設(shè)計(jì)股份分配是：兒子20%,女兒20%,，配偶20%，每人騰出5%加在企業(yè)家自己頭上,，股份共計(jì)40%,，成為大股東。如果兒子繼承公司就可以傳給兒子,，女兒繼承就傳給女兒,，進(jìn)而控制公司。股份的收益大家都一樣,，可以按比例也可以事先約定不對(duì)稱分紅,。這樣做的好處是真?zhèn)€家族都是有企業(yè)家控制，而且控制權(quán)很穩(wěn)定,，又不急于股份傳承,。

Establish a family holding company and include all family members in it. In theory, equity within a holding company can be allocated. However, the distribution ratio should also follow the principles of general enterprises and not be too similar, so that entrepreneurs can have control over themselves. Although as a family, the share ratio and discourse power can be negotiated, considering future family upheavals or equity inheritance, overly equal shares can easily leave hidden dangers. Even if there are no problems with the inheritance of children from generation to generation, problems may arise when it comes to grandchildren. Therefore, assuming that the holding company of a family of four can design a share distribution of 20% for sons, 20% for daughters, and 20% for spouses, each freeing up 5% and adding it to the entrepreneur's own head, with a total of 40% of the shares becoming the major shareholder. If the son inherits the company, it can be passed on to the son, and if the daughter inherits, it can be passed on to the daughter, thereby controlling the company. The returns on shares are the same for everyone, and asymmetric dividends can be agreed upon proportionally or in advance. The advantage of doing this is that the entire family is controlled by entrepreneurs, and the control is very stable, without being in a hurry to inherit shares.

清官難斷家務(wù)事，專業(yè)的力量不能說(shuō)企業(yè)讓誰(shuí)接班,，但是專業(yè)的力量可以預(yù)先設(shè)計(jì)好一個(gè)游戲規(guī)則,，將來(lái)企業(yè)按照這個(gè)規(guī)則去接班?？毓晒镜暮锰幘褪墙柚@個(gè)專業(yè)的力量事先打造好的架構(gòu),，未來(lái)企業(yè)在選擇接班人的時(shí)候通過(guò)內(nèi)部協(xié)商后即可在控股公司內(nèi)實(shí)現(xiàn)企業(yè)傳承。

A clean official is difficult to handle household chores, and professional strength cannot say who the company will take over. However, professional strength can design a game rule in advance, and the company will take over according to this rule in the future. The advantage of a holding company is to leverage this professional force to create a pre built structure. In the future, when selecting a successor, enterprises can achieve corporate inheritance within the holding company through internal negotiation.