Who can own a Dental Body Corporate?

Young girl with open mouth during oral checkup at the dentist’s

Who can own a Dental Body Corporate?

It has now been over a decade that dentists can run a dental company or a Dental Body Corporate (DBC). We are commonly asked what proportion of dental shareholders (i.e. registered dentist or a dental care provider) have to be involved?

Well the answer is none!

This allows dental companies to be a potentially attractive vehicle for non-dental investors.

This has to be tempered by the fact that the legislation requires that a majority of the Directors have to be dental(i.e. registered dentist or a dental care provider).

It is advisable for a Shareholder’s Agreement to be entered into at the DBC formation to set out the shareholder and director obligations. This is confidential and should hopefully avoid dispute later.

A Cross Option is also an invaluable tool to consider at the same time to cover the critical illness or death of a party and use life policies to ‘cover’ these circumstances.

 

 

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