LEGACY TRUST COMPANY Corporate Presentation

Legacy Trust Company

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Leadership

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Hong Kong Occupational Retirement Schemes (ORS)

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Powerful Trust Solutions

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LTC ORS Overview

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Private Label Trusts



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Expertise with Passion

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Legacy Trust Company From being a Trustee to ORS Trusts, to establishing revolutionary special purpose ORS trusts, the Legacy brand continues to evolve to meet the needs of its growing global customer base.

Legacy Trust Company Limited has quickly matured into an

Legacy will serve local, regional and international clients, with

innovator and trend-setter, expanding the boundaries of how

a variety of services. This include wealth and estate planning,

Hong Kong Occupational Retirement Schemes are deployed

Trust administration, trustee and fiduciary services, along with

and implemented on a local and international level. At the

fund and private equity services. As well, Legacy is pursuing

same time, this growth has been accompanied by expanding

the ongoing development of its retirement and special purpose

responsibilities. Working in an increasingly regulated world

Trust business, and will further develop a range of retail Trust

where global recognition is critical, it is important for us to

service offerings primarily in Hong Kong, greater China and

accept the greater responsibilities and permissions of a Hong

Southeast Asia.

Kong government licensed Trust Company. As a Trust Company in Hong Kong, Legacy qualifies to act as

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Legacy Trust Company Limited is now a public company under

a registered scheme for assets traded on insurance and

the Hong Kong Companies Ordinance and registered as a Trust

other retirement platforms. Legacy is able

Company under the Hong Kong Trust Ordinance. It benefits

to compete for retail distribution

from the expanded permissions and exemptions available to

in the MPF transfer business

a licensed Trust Company, taking advantage of Hong Kong’s

under new rules implemented

primacy as the leading financial center in China, and it’s position

during 2012, thus ending

as the 3rd ranked financial center in The Global Financial

the monopoly of traditional

Centers Index (GFCI), following New York and London. Legacy

MPF providers. Legacy has

Trust Company is the flagship of our corporate group.

also established a partnership agreement with The Federation

Hong Kong has an established, diverse and robust Trust industry.

of

The common-law concept of Trusts, understood by practitioners

Consumers will find that

and businesses around the world, has been in use in Hong Kong

Legacy Trust ORS meet

from its early days as a British colony. Recent changes to Hong

many of their current and

Kong Trust law, making Hong Kong Trust rules substantially more

future needs. We see our

capital-friendly for ongoing taxation, estate, and succession

new relationship with FEIFA

planning, have created exciting opportunities for international

as central to our ability to

Trust settlement. Recently passed amendments to the Trustee

reach out into Europe,

Ordinance have been designed to make Hong Kong the most

and a tremendous boost

competitive jurisdiction for Trust settlement anywhere on the

to

globe. With these changes, the overall advantages of Hong

going forward.

Kong for Trusts have become more compelling, while traditional tax havens are under siege from revenue-hungry governments globally. Legacy Trust Company targets three segments of the industry: corporate, pension and private. The company’s strategy is to create a diverse range of services and products that will be utilized by customers ranging from retail to ultra high networth individuals and families. Furthermore, a wide range of institutions also employ Trust structures, and these organizations are consumers of our Trust related services.

European

Legacy’s

IFAs

(FEIFA).

potential

Effective Trust Solutions to Safeguard Business Interests

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Leadership The principals of the company bring their business skills, experience and credentials to bear in providing a broad range of services.

Vincent Chok MANAGING DIRECTOR Mr. Vincent Chok has over two decades of business experience in the financial and real estate industries. Mr. Chok is a co-Founder and Managing Director at Legacy Trust Company, responsible for Marketing and Distribution of the Company’s major pension and private label trusts. As well, he as a co-founder of Marathon Capital Management Limited, a Hong Kong-based company providing innovative capital planning and corporate structuring for investors in Greater China and Southeast Asia. In his earlier career, he played a major role in structuring a private mining company from concept to public listing on the NASDAQ exchange, with a current market capitalization of over one billion US dollars. Mr. Chok also has extensive knowledge in the Canadian Exempt Securities market, raising capital for a number of Canadian real estate-based offerings for commercial real estate acquisitions, land developments and mortgage financing through private investment syndications. From 2000 to 2010, Mr. Chok was President of two development and syndication groups, focusing primarily within the commercial real estate sector in North America.

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He is a member of the Hong Kong Institute of Directors, the Hong Kong General Chamber of Commerce, and the Canadian Chamber of Commerce.

Douglas Wilson MANAGING DIRECTOR Mr. Douglas Wilson is a senior executive with over thirty years of experience in Marketing Services, Telecommunications, Financial Services, Corporate and Business Consulting, and Consumer Credit Services. He is both co-Founder and Managing Director of Legacy Trust Company Limited, as well as Chair of the Board of Directors and Trust Committee. In addition, Mr. Wilson remains active in the Private Equity and M&A Turnaround space. He is currently the Director of Spiritwood HK Limited and Spiritwood Philippines Group, a Philippines company with operations through Spiritwood Corporation, which has been active developing and operating commercial Timberland in the Philippines for 20 years. Mr. Wilson has been involved in the financial services industry since the mid-1980s. he starts out raising private equity during the late 1980s; becoming a financial advisor, with over 300 clients during the mid1990s before taking on roles as the owner and Trading Director of a Financial planning company in Canada. He was the Founder and CEO of Legacy Corporate Finance Consultants, a regulatory and exempt securities consulting firm which assisted exempt issuers with securities regulations compliance, plus raising capital through exempt offerings and full prospectus level take-overs. Mr. Wilson founded NCC Corporation in 2001 and led the takeover and re-organization of National Credit Counsellors. He acted as CEO and Senior Trust Officer for the then largest, for-profit credit counselling company in Canada. Mr. Wilson came to Hong Kong in 2006 as the President of Clean Energy USA, a US public company, and from 2009 to 2014 was Compliance Officer of Asia Pacific Investment Advisors Limited, an investment and Insurance Dealer Licensed both by the SFC and PIBA. He is a fellow of the Hong Kong Institute of directors having served as a director or senior officer on the boards of a variety of private and public companies for the past thirty years.

Myles Morin DIRECTOR Mr. Morin is a seasoned investment company executive, with a record of growth and leadership in North America and Asia. He was formerly Chief Executive and Chairman of the Board of Manulife Provident Fund, the second largest MPF in Hong Kong; Vice President, Wealth Management Distribution for Manulife Canada; former Senior Vice President and National Sales Manager of Dynamic Mutual Funds; and Fidelity Investments Canada. He served the Province of Saskatchewan as Member of the Legislature, and Minister of Revenue and Financial Services, holding responsibility for all public pension plans. He also developed the Saskatchewan Pension Plan, which became the model for Provincial pension plans now being implemented across Canada. Mr. Morin is a graduate of the University of Saskatchewan (B.Ed) and Queen’s University (M.B.A, General Business), in Canada. Mr. Morin is a lifelong advocate of assisting people to create, increase, and preserve wealth.

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David Nesbitt DIRECTOR Mr. Nesbitt is a senior investment professional with over thirty years of experience in Asia-Pacific, based in Hong Kong. He has managed Hong Kong subsidiaries for a variety of major North American and European financial services firms, including RBC Financial Services, CIBC World Markets, American Express Asset Management and EIM Group. He is the Founder of the Nesbitt Centre Ltd., a Centre for Special Needs international young adults in Hong Kong. Mr. Nesbitt is also a Fellow of the Canadian Securities Institute and the Hong Kong Institute of Directors. He is a graduate of the University of Manitoba (B.A, Psychology) and Queen’s University (M.B.A, Marketing), both in Canada. Mr. Nesbitt is a Governor of the Canadian Chamber of Commerce, and also carries Responsible Officer status for Asset Management under the Hong Kong Securities and Futures Commission.

Dan Horner DIRECTOR Mr. Horner is currently a Partner in the law firm of Scott Venturo LLP in Calgary, Canada. He carries on a corporate and commercial law practice, including significant acquisitions, real estate development, commercial lending and financing. Mr. Horner was Counsel to and Director of a Canadian high yield Asset Backed Securities (ABS) fund and structured

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it for payment of secured fixed income bonds to investors with over US$70 million under management. Currently a Director of a number of corporations, both private and public, he attended the University of Saskatchewan and obtained his Bachelor of Commerce, with a Finance Major, in 1991 and his Bachelor of Law in 1992.

Vivian Chan CHIEF FINANCIAL OFFICER Vivian is the Chief Financial Officer for Hong Kong-based Legacy Trust Company Limited, a market leader in providing pension and business trust structures and solutions. Legacy is a registered Trust Company, and manages 1000 individual pension accounts plus a variety of Business Trusts with over 15,000 beneficiaries. Vivian is also responsible for financial management of Legacy’s Asia-Pacific related offices in China, Malaysia, Singapore and the Philippines. In her earlier career, she was Head of Finance for Hong Kong-based Orangefield Management (Hong Kong) Limited and Manager Financial Control for ICS Trust (Asia) Limited. She is a qualified CPA and a graduate in Economics from the University of Toronto: her background includes experience in corporate structuring, offshore and China incorporations, international trade, and private client services.

David Gunson SPECIAL ADVISOR Mr. Gunson has an extensive legal background, and is Government acknowledged as active in reform of Trust law, Pension law and Tax law. He is currently a director of two Hong Kong Customs & Excise Department AMLO-licensed Money Service Operators and is a former director of a Hong Kong Stock Exchange-listed company. He practices in the fields of general tax and pension structuring and advisory work to a range of Asian, United Kingdom and Australasian businesses and institutions.

Silver Shen LEGAL OFFICER Silver Shen is the legal officer of Legacy Trust Company Limited. Prior to joining Legacy Group she had been working with a leading US law firm for several years. Ms. Shen’s diverse practice includes advising on trust laws, pension laws, corporate merger & acquisition, private equity, Hong Kong initial securities offerings, venture capital, China-related crossborder investment and general corporate matters. Ms. Shen represented numerous clients including investment banks, funds and major corporations headquartered in China, Hong Kong, the USA and other jurisdictions. Ms. Shen received her Bachelor of Laws degree (summa cum laude) from Sichuan University in 2007 and her Master of Laws degree from the University of Hong Kong in 2008.

Richard Jones SENIOR TRUST ADMINISTRATOR Mr. Jones has over thirty years’ experience in the financial services sector, having started his career with the Lloyds Banking Group in the city of London in the late 1980’s, before focusing on private wealth management. His relocation to Asia in 1997 saw his career develop with a UK FTSE listed wealth management group, before returning to Lloyds Banking Group and their International Private Banking division. His 19 years’ experience in Hong Kong have seen him undertake key roles in private client advisory, asset management, sales management and latterly regulatory compliance, and he currently retains status as a Responsible Officer for Dealing in Securities, Advising on Securities, and Asset Management with the Hong Kong Securities and Futures Commission. He also retains Responsible Officer Status with the Mandatory Provident Fund Authority in Hong Kong.

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Annie Tam HEAD OF HUMAN RESOURCES AND ADMINISTRATION Annie joint the company in March 2014, and was appointed Head of Human Resources and Administration in June 2015, with responsibility for driving growth in Legacy’s businesses through an effective human resources and people strategy. She is responsible for human resources strategy and planning, staffing, talent management and succession processes, as well as compensation and benefits, employee relations, leadership development and training and corporate medical operations programs. She is also in charge of a variety of corporate-wide administrative areas including, travel, real estate, and other business support services. Prior to joining Legacy, Annie has over 20 years of banking experience covering commercial banking, corporate banking, investment banking and private banking. She has previously worked for banks including J.P. Morgan Chase and Credit Suisse. Annie is a graduate of RMIT University in Melbourne (B.B(M)) and a member of the Hong Kong Institute of Human Resource Management.

Robert Chiu HEAD OF GLOBAL DISTRIBUTION Mr. Chiu is an experienced Strategic Sales and Relationship Manager, with over 20 years’ experience at

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leading global financial service organizations. His international expertise in the North American and AsiaPacific region includes leadership roles with Thomson Reuters as Sales Manager, North Asia, and Bloomberg LP, where he was a Senior Sales Specialist for their Electronic Trading systems. More recently, Mr. Chiu oversaw trading procedures and platforms for leading brokerage house BTIG, business development at FIS and played an integral role in growing the business in new private wealth segments at fintech startup Prive Financial. Bringing his client servicing, sales and strong project management skills to Legacy Trust Company, Robert will provide direction to our Global sales team and business solutions for institutional clients. He is a graduate of the University of Western Ontario (BA) and holds an MBA from Ivey Business School, additionally held professional financial designations from both the Canadian and Hong Kong Securities Institutes.

David Traill REGIONAL DIRECTOR | EUROPE Having left her Majesty’s Forces in 1984, Mr. Traill started in the financial industry broking in the bond markets of the mid-80’s. Subsequently he gained his experience, over 30 years, with Sun Alliance International, Guinness Flight, Investec Asset Management, Orbitex Asset Mangement and latterly his own consultancy business. Mr. Traill brings a wealth of European financial experience to the Legacy Trust stable.

Andrew Paterson REGIONAL DIRECTOR | AFRICA & MIDDLE EAST Mr. Paterson’s financial markets experience includes advisory activities in Singapore, Hong Kong, Belgium and South Africa. He has built businesses for international investment managers, including IPAC Financial Planning and Stanlib Global Investments. His early career with Liberty Group South Africa focused on family and individual insurance solutions in many African countries, before moving to Europe. He is also the founder of a major NGO in South Africa, dedicated to the Rhino Horn Reduction Campaign in Asia. Mr. Paterson brings deep experience to Legacy Trust Company, and covers both the African Region and the Middle East for Legacy’s full array of pension solutions.

Peter Adam MANAGING DIRECTOR | LEGACY FIDUCIARY SDN BHD Mr. Adam is the Managing Director of Legacy Fiduciary Sdn Bhd, which is the Malaysian based subsidiary of Legacy Trust Company Limited and has over 35 year’s experience in the Financial Services industry, with the last 20 years spent working in Asia. Mr. Adam’s extensive experience covers Insurance, Asset Management, International Distribution and Sales and Marketing. Mr. Adam has also served on the board of many companies during his career and has extensive General Management and Business Development experience.

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Paul Hobbs DISTRIBUTION MANAGER | SOUTH EAST ASIA Mr. Hobbs started his career in finance in 1996 and at the same time he became resident in Malaysia. Prior to that he developed his skills in sales and marketing in various sectors, including Oil and Gas, Advertising, Retail Services and Printing. Mr. Hobbs also has experience in a number of geographic locations including Saudi Arabia, Australia, Hong Kong, Japan and Dubai. With Mr. Hobbs’s extensive knowledge and understanding of the retail, wholesale and institutional investment markets it has provided him with the perfect grounding to develop and establish the Legacy Trust Co.’s business throughout South East Asia.

Kazuhiko Ogawa HEAD OF DISTRIBUTION | JAPAN Mr. Ogawa is the Head of Distribution for Japan and has over 15 years’ experience in the finance and property industries. Mr. Ogawa began his career as an assistant in a Capital Consultation firm in Tokyo. Over the years he has worked in consultation with many International companies who have sought his expertise and extensive knowledge of the Japanese financial market.

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Throughout his career, Mr. Ogawa has established a reputation as a professional and highly skilled presenter whose attention to detail and in-depth research into the Japanese Financial Market has won the respect of both colleagues and clients. Mr. Ogawa has worked with many International companies as a business consultant and has assisted with the development of products and accessing the Japanese financial market. Mr. Ogawa is a founding member of International Capital Consultancy.

Crispin J Harker-Taylor REGIONAL HEAD OF DISTRIBUTION | US, MEXICO AND CARIBBEAN Mr. Harker-Taylor’s employment experience started as a technical engineer before moving into pharma sales in the UK and then into wealth management and corporate development. Mr. Harker-Taylor is a senior investment professional with over 15 years of experience in Latin America, during which time his clients under management have grown cross the globe. Based in Latin America he has developed from a financial consultant to a director of his own independent financial consultancy, responsible for both private and corporate wealth management as well as corporate strategic development and relations globally. Mr. Harker-Taylor with a BSC hons in applied geology from Plymouth as well as a Master in Commerce and economics from Canerbury Christ Church University.

Kevin Ward GLOBAL DISTRIBUTOR Based in Hong Kong for the last 27 years Mr. Ward is an industry professional with broad management experience in the fields of pensions, investment, finance, and insurance. A scientist by training, he is a Chartered member of the UK Science Council, and Royal Society of Chemistry as both a Chartered Scientist and Chartered Chemist. He previously worked in the pharmaceutical and environmental fields in UK and Hong Kong prior to moving into the financial industry, where he brings his scientific and analytical skills to the fields of investment, insurance, and trustee services. Mr. Ward is fully licensed by the Hong Kong Professional Insurance Brokers Association and is currently Chief Executive of Ichor International Investments Ltd, a wholly owned subsidiary of Legacy Trust Company Limited. He holds a B.Sc. from the University of Hertfordshire, and an HKSI Practicing Certificate (Securities and Asset Management).

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A Personal Trust Can Be As Unique As You Are

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Hong Kong Occupational Retirement Schemes (ORS) The Hong Kong ORS is arguably the most tax efficient pension structure available to high net worth individuals.

HK ORS are available to anyone, working in any occupation, in any location, globally. Due to the generous Hong Kong Occupational Retirement Schemes Ordinance (ORSO) tax regime and favorable use of double taxation agreements, no matter what your nationality, no matter where you currently reside for tax purposes, either now or in the future, the ORS works as an extremely efficient tax-planning tool. The ORS allows you to defer Income Tax and Capital Gains Tax. It is our belief that tax deferred is tax saved. It can accept most transferred pensions and/ or registered plans with no limits. Also, there is no requirement to buy an annuity on retirement, and it will eliminate the half pension for a surviving spouse and secure capital for chosen heirs. The ORSO makes it possible for individuals to establish a retirement pension plan that provides significant positive tax advantages; eliminates inheritance tax on succession; and gives members the discretion to choose from an almost unfettered class and location of investments. Hong Kong effectively offers these benefits alongside low taxes; no estate duty; no wealth tax; no capital gains tax; no withholding tax; no VAT; and income tax freedom for the residents of 28 countries in retirement.

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Conversely, Hong Kong, reflects simply a straight forward, legitimate, long existent low tax system with attractive, genuine open pension planning for international and local clientele who wish to have safe/reliable capital to draw on when they retire.

The key to these benefits is legitimacy. Hong Kong is not a tax haven and therefore it is not included in “black lists” as are many tax havens. These jurisdictions often attempt to hide assets through complicated rule bending procedures, and are increasingly the subject of witch hunts by aggressive revenue authorities, and are losing their relevance in pension planning management. While the effect of efficient pension planning is much lower taxes on your estate, this is not a scheme developed for tax avoidance. Instead, the Hong Kong pension regime will maximize the return on your wealth by managing the pension assets in order to avoid double-taxation regulations, overlapping taxes, and unnecessary taxation fees through poor future planning and unawareness of taxation law.

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Powerful Trust Solutions Legacy Trust Company Limited, as a trustee, offers a comprehensive range of trustee services to help you achieve your financial, estate, and succession planning objectives and preserve your family wealth for generations to come. The Trustee has decades of experience in providing tailored trust management and financial planning solutions to personal and corporate clients globally.

▸ ▸ ▸ ▸ ▸ ▸ ▸ ▸ ▸ ▸ ▸ ▸

Trust and Fiduciary Services Trust Administration, Accounting, Valuation and Reporting Charitable Trusts Trusts for Education, Medical Protection of Invalids and Aged Care Purposes Estate and Succession Planning Employee Share Option Trusts Escrow Services Custodial Services Nominee Services Fund administration services Share Registry and Transfer Agency for Private Equity Arrangements Trade and Commercial Solutions

Legacy Trust Company’s ORS Legacy Trust Company has created ORS for different markets.

INTERNATIONAL

A globally unique, all-in-one, entry level Hong Kong ORS based on the Legacy

PENSION PLAN

Superannuation Trust. It combines an EU-based investment platform and custodian with five risk-graded portfolios managed by a UK regulated manager with risk overseen by the UK’s largest risk management company.

LEGACY

A full service ORS that caters to both the moderately wealthy and sophisticated

SUPERANNUATION TRUST

investor, providing them with unlimited investment options that include physical property, listed securities, private company shares, real estate and more, as well as 100% creditor protection, privacy and globally unique estate planning options

INTERNATIONAL

This plan provides the independent financial advisor market with a more

RETIREMENT PLAN

tightly focused version of the Legacy Superannuation Trust upon which it is built. A typical medium of investment may include platforms issued by major life companies, banks and fund houses, and that offer listed securities and structured product as underlying investments.

PREMIER PLUS

Premier Plus is a stand-alone ORS which provides Chinese mainland and

SUPER TRUST

diaspora clients with the opportunity to globally diversify their pension assets using a PRC and Hong Kong tax recognised account, with 100% creditor protection, internationally approved confidentiality and exciting estate planning options.

CAPITAL CORPORATION

This plan is available to investors who wish to take advantage of UK and

RETIREMENT PLAN

EU laws that permit the transfer of their UK-based pensions to qualifying recognised overseas pension schemes. Our qualifying recognised overseas pension scheme (QROPS) provides benefits that are not available to traditional QROPS providers, such as the ability to invest back into the UK property market and invest into private companies, with full creditor protection and enhanced estate planning benefits.

Each of the above ORS benefit from OECD tax recognition and their inclusion in Hong Kong Double Taxation Agreements, which provide for full tax deferral during accumulation, and income tax freedom at distribution for the residents of 28 countries. These countries include the People’s Republic of China, South Korea, Malaysia, the United Kingdom, Canada, Mexico, France, Belgium, Holland, Thailand, and South Africa, and Indonesia. We can also build an ORS to suit you; your employer; or financial institution. Speak to us or your advisor today to obtain the ORS guides best suited to you.

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Private Label Trusts We provide clients with legal Trust platforms and structuring assistance to ensure ongoing compliance with the continuously evolving regulatory environment and assisting in taking advantage of new business opportunities. Our extensive expertise in supporting clients’ cross-border fund distribution strategies in numerous countries, combined with an advisory approach and a presence in many major securities jurisdictions, gives us a real competitive advantage, and helps to drive our clients’ businesses forward.

Based on the Occupational Retirement Schemes (ORS) regulated under the Hong Kong Mandatory Provident Fund Authority (MPFA), our Trust structures provide our members with the benefits of trading of an array of funds and investments on internationally based platforms which are transparent, compliant and tax-advantaged. For the members, this represents the ability to seamlessly invest and trade capital offshore through a retirement Trust vehicle. Members can enjoy the benefit of accruing value tax-free and ultimately distributing the income to the member on a tax-exempt basis in many jurisdictions. Legacy Trust’s innovative solution enables issuers to have a customized Hong Kong ORS as a legal vehicle for their existing or new investment products. The investment products can range anywhere from real estate acquisitions, developments, forex, equities, mutual funds to commodities. ORS are exempt from insurance and securities regulations, thus eliminating additional capital raising costs, while providing added tax benefits to their clients. Investors will not be subjected to taxation within the Trust.

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1

2

3

SET-UP

RAISE FUNDS

ALLOCATE FUNDS

Establish your customized Private Label Trust in Hong Kong.

Member will participate via

The Trustee of the Private

a Private Label Trust in the

Label Trust will forward the

underlying investment.

capital raised to the issuer.

Legacy Trust Private Label is designed to cater to issuers of investment products, who are seeking opportunities in new markets where licensing requirements are restricting their progress. In reliance on its permissions and exemptions, the Trust will facilitate issuers’ access to new markets streamlining the issuers’ licensing and compliance requirements. For The Issuers of...

01. FOREX

04.

REAL ESTATE

02.

PRIVATE PLACEMENTS

05.

EQUITIES

03.

BONDS

06.

FUNDS

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CONTRIBUTE A LUMP SUM OF MONEY

BENEFICIARY (TRUST MEMBER)

INVESTS IN

ISSUER’S PRIVATE LABEL ORS TRUST

DRAW A REGULAR INCOME

ISSUER’S PRODUCTS (PROPERTY, SHARES, CASH ETC)

GROWTH & INVESTMENT EARNINGS

We’re here to help you Want to talk to us about our services or to learn more about our ORS? Contact us and our representatives will get in touch with you as soon as possible.

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+852 2617 9177 Suite 2001, 20/F, World Wide House 19 Des Voeux Road, Central, Hong Kong General:

[email protected]

Compliance:

[email protected]

Legal:

[email protected]

www.legacytrust.com.hk

Legacy Trust Company Limited

Suite 2001, 20/F World Wide House 19 Des Voeux Road Central, Central, Hong Kong Phone :

+852 2617-9177

Website :

http://www.legacytrust.com.hk

General:

[email protected]

Compliance: [email protected] Legal: [email protected]

January 2017 English Version Issue 01