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How to Start a Holding Company

hey what's up family ramon preston here

listen i want to take a few moments to

share with you a little information with

regard to this

holding company concept i get a lot of

questions on a regular basis

uh not just about what a holding company

is

but how do you actually structure a

holding company

if you're structuring a company for the

first time

and or if you already have an existing

company

and you're trying to figure out how to

restructure it into

a holding company so let me begin by

saying first and foremost a holding

company

you heard it from me all right a holding

company is not a legal entity

all right a holding company is not a

legal

entity make sure that you understand

what i'm saying very clearly a holding

company is not

a legal entity now when i say a legal

entity

i'm talking about a s corporation a c

corporation

a llc a partnership any type of legal

corporation that you're able to go to

the secretary of state

and file as a legal entity

that's not necessarily a holding company

although

although many states particularly like

the state we're in the state of georgia

they have certain categories or codes

that you can

specify the industry

uh that your legal entity is

in so for example i can go to the

georgia secretary of state

and i can go through the filing process

to file my legal entity whether it's an

s corp

a c corp or an llc or partnership

whatever the legal entity

is and they give me an option

at least uh in my state's secretary of

state

uh business filing uh portal they give

me an

option to choose what type of

legal entity is going to be so if it's

going to be an llc

or s corp or c corp i'm going to specify

that

then there are certain categories or

codes that i'm able to

specifically identify my llc

my escort my c corp by now in

our state we actually have a category or

more appropriately speaking we have a

code that is

highlighting or specifying that this llc

this s corp to c corp this legal entity

is

in fact designated for the purpose of

the offices of a holding company now

some states don't have that

i've looked at a lot of uh secretary

of state uh business uh filing

portals and i really didn't see that uh

in some perhaps there are those that do

have it if you're familiar with what i'm

talking about and you know your state

actually has it

please uh drop a comment uh

below the video so that we can know what

state you're representing that has

that specific category of code but back

to my conversation

once you specify what category or code

it is

then it doesn't make that llc or

that that s corp or c corp

a holding company just because you're

specifying that this is the type of

business that you're doing or this is

the operating purpose

of that business it just means that the

category or

coding of that portal or of that

business system

is going to be specified or identified

as a llc

or s corp or c corp or a partnership or

a legal entity

that's operating for the sole purpose

it's similar to if you

file at the secretary of state's uh uh

business portal for a legal entity and

let's say you

started a llc but your llc is for

selling apparel or for agriculture or

for a club or for some type of real

estate you can

categorize or specify that legal entity

in that specific area so that's uh

the difference between your you having a

holding company

and you have an llc or s corp or a c

court

now the second part of this uh question

slash discussion that i want to bring

clarity uh

on is that uh once you file

your legal entity and if you

specify or not that it is for the

purpose

and operating as a holding company the

holding company is a

concept from the beginning anyway so

even if you go and specify because

the secretary of state gives you an

opportunity to it doesn't mean your

business is going to operate as a

holding company i know a whole lot of

people who

have paid cpas or attorneys or

firms or certain companies

to bow their llc's or to file their

c-corps and s-corps and they have

categorized and

coded and specified their companies to

be holding companies and they're still

not operating as a holding company you

know why

because it's not just a a

section or a segment or category or code

on your secretary of state filing system

or in that portal it's actually a

concept so when you think about a

holding company number one is not a

legal entity even though you can code it

or categorize it

in some states uh where you file

for your legal entity number two once

you do

file your legal entity whether you

specified as a holding company

or for the purpose of a holding company

or not you still have to

learn the concept because a concept is

something that you're not going to just

know and have because you own a legal

entity

think about it you might be watching

this video you may have owned a business

before

you might own a business right now or

you might be anticipating

to own a business and you at least have

enough

knowledge to know that the business you

own

or the business you want to own needs to

be a holding company

in other words you have come to the no

or to the knowledge that your business

whether you currently own one or want to

own one it needs to have a

concept centered around this idea of

a holding company and the way you do

that is by educating yourself this is

one of the reasons why we are teaching

and training

the people that we are on our university

platform through our blueprint programs

as a matter of fact

we have hundreds of courses that we

teach in our blueprint programs they are

specifically designed to teach you and

to train you

on all things concerning financial

literacy concerning entrepreneurship

business ownership

ministry leadership if you're in

ministry and the investments in wealth

building but more

specifically we have an entrepreneur's

guide to business

program built into our blueprints and in

this program we have an

entire segment teaching you step by step

not just what a holding company is

because you know what that is now

how a holding company works but we also

walk you through

uh with video tutorials on how to file

it if you're a diy or if you're a

do-it-yourselfer

or if you uh outsource uh the filing to

someone else or to another company at

least you need to know

how it is so that when you do file your

legal entity

whether you categorize it or not as a

holding company

now you understand the concept because

how you

operate that llc is going to have a lot

to do with what you know about a holding

company how you operate that escort that

c corp that partnership

is gonna have a lot to do with how you

operate

uh that that corporation and that's

gonna be based on your knowledge so in

order to

understand thoroughly all the ins and

outs of this

concept this idea of a holding company

truth is you just got to learn and guess

what your

earning is always connected to your

learning because i don't want you to

just have a good idea on paper

that we call a business i want you to

establish

a legal entity structure it as a holding

company because this will be your legacy

for you

for your family for the generations to

come

you