A BUSINESS THAT S DEPENDENT ON TRUST

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3 A BUSINESS THAT S DEPENDENT ON TRUST Heritage is an independent trust company, providing a full spectrum of corporate services. Located in Singapore and Hong Kong, we provide three core services: Establishing international companies in various popular jurisdictions; Providing fiduciary and corporate secretarial services for ease of doing business; and Structuring trust solutions for succession planning and asset protection. Our business partners and clients include families of notable wealth, the world s largest and boutique private banks and many established professional intermediaries in Asia and Europe. Typically, the client is referred to Heritage by either a lawyer, a banker or an accountant. Our specific strength is working with financial institutions and professional intermediaries to assist their clients who are seeking confidentiality, asset protection, cross border tax-planning and effective commercial structures. BVI Hong Kong Singapore Brunei New Zealand

4 SINGAPORE & HONG KONG TWO LEADING INTERNATIONAL FINANCIAL CENTRES Singapore The Lion City Strategically located in the Asia-Pacific region, Singapore is a pre-eminent financial centre, well-established as a safe haven for large global and regional financial institutions. This reputation is anchored by a well-regulated financial services industry, tax-friendly legislation and a strong English common law legal system. Singapore continues to enhance its role as a premier international wealth management centre. India China Singapore The Success of Singapore Singapore s continued success rests on four pillars legal, regulatory, political and financial. Its business-friendly regulations and policies have driven most international wealth management firms to establish a presence here. It has rigorous bank confidentiality laws, a reliable legal system, a highly efficient government and a well-regulated financial sector. Singapore is consistently recognised as one of the best cities in the world for wealth management businesses. Transparency International in its Corruption Perceptions Index 2010 ranked Singapore the most transparent country in the world. The highest density of millionaire households in the world (BCG Global Wealth Report 2010). Per capita GDP of USD52,200 (2009 est.) is ranked 8th in the world, higher than that of the US, UK and Switzerland.

5 SINGAPORE & HONG KONG TWO LEADING INTERNATIONAL FINANCIAL CENTRES Hong Kong The Fragrant Harbour India China Hong Kong Hong Kong was ruled by the British Government until it became a Special Administrative Region (HKSAR) of the People s Republic of China (PRC) on 1 July Hong Kong s company law is based on English common law and is often cited as a shining example of laissez-faire capitalism. The mainland has long been Hong Kong s largest trading partner, accounting for nearly half of Hong Kong s exports by value. The government is deepening its economic interaction with the Pearl River Delta in an effort to maintain Hong Kong s position as the gateway to China. The Success of Hong Kong Hong Kong s economic strengths, including a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves, and an able and rigorously enforced anti-corruption regime, have enabled it to respond quickly to changing circumstances. Like Singapore, Hong Kong is consistently recognised as one of the best cities in the world for wealth management businesses. The second highest density of millionaire households in the world (BCG Global Wealth Report 2010). Ranked No. 1 in the world 2010 Index of Economic Freedom. Consistently, in the top-3 busiest ports in the world.

6 HERITAGE A PREMIER AND INDEPENDENT FULL-SERVICE PROVIDER WHAT S IMPORTANT TO OUR CLIENTS Experience and up-to-date information are critical to meeting the planning needs of our clients seldom the lowest price available. Our staff are well-qualified, experienced and constantly kept abreast of market and regulatory changes in order to handle diverse and unique planning needs. TEAM HERITAGE A PROVEN & STRUCTURED APPROACH Banks take comfort in our approach because we assign individual managers who are familiar with the bank s compliance policies, its documentation and any special working requirements. WHAT DISTINGUISHES HERITAGE According to our clients Fast Turnaround Time and High-Quality Service. Once your documents are in place, we have a T+1 Service Standard. As a full-service quality provider, we ensure that your requirements for confidentiality and accuracy are our foremost responsibility. commodity in asia a source of wealth

7 OUR CORE SERVICES PROVIDING COMPLIANT, EFFICIENT & CONFIDENTIAL STRUCTURES FOR OUR CLIENTS Settlor Heritage Singapore / HK / NZ / Brunei / BVI Trust Services Trust Deed Beneficiaries Client / BO Heritage Singapore & Hong Kong Fiduciary Services Services Agreement Nominee Directors Nominee Shareholders Bank Signatory Registered Office Company Secretary Accounting Services & Tax Filing Trade Documentation Hold Mail, Telephone & Fax Services Private Investment Company Offshore Company Incorporation Share Portfolio Bank Account Investment Property Trading Activities Insurance Policy the asian way to nurture strategic growth

8 Offshore companies are used by individuals and corporations as investment vehicles, and for estate and tax planning. British Virgin Islands Brunei Cayman Islands Hong Kong Labuan Marshall Islands Mauritius New Zealand Panama 1. Investment Vehicles The purpose of a Private Investment Company (PIC) is to hold a portfolio of investments in a safe, confidential and tax-efficient manner. With direct crossborder investments, the selection of a suitable corporate structure can allow for the utilization of international tax treaties to minimize income, withholding and capital gains taxes. 2. Asset Holding In many countries, it may be beneficial for a foreign investor to purchase property through an offshore company incorporated in a tax-efficient jurisdiction. 3. International Trading It may be advantageous to interpose a Company between buyers and sellers, thereby accumulating a portion of the profits of trading transactions in a low tax center. Such an arrangement may also assist to minimize the impact of Exchange Control provisions. 4. Commission Companies Commission Companies receive payment income in a tax-efficient manner, on the basis of the beneficial owner acting as a professional individual offering their services internationally. Samoa Seychelles Heritage has global access to offshore incorporations. Our team of professionals can assist to identify a suitable jurisdiction to meet your specific objectives and requirements. Singapore Private Investment Company Share Portfolio Bank Account Investment Property Trading Activities Insurance Policy commodity in asia a source of wealth

9 Fiduciary Services Clients who establish international companies generally require professional services in the administration and management of these companies. With a good understanding and strong respect for confidentiality, our managers can provide efficient administration for your offshore structures. Our suite of services includes: Corporate / Individual Directors Corporate / Individual Shareholders Company Secretary Bank Signatories Correspondence Addresses Registered Offices Telephone & Fax Answering Bank Account Opening Accounting & Tax Filing Our professionally qualified and experienced managers will produce and maintain all necessary documentation and correspondence to allow for the prudent and efficient administration of your company and its affairs. Client / BO Heritage Singapore & Hong Kong Services Agreement Nominee Directors Nominee Shareholders Bank Signatory Registered Office Company Secretary Accounting Services & Tax Filing Trade Documentation Hold Mail, Telephone & Fax Services focus on professional services, managing confidentiality

10 Trust Services A trust is created when the absolute owner of property (the settlor) passes the legal title in that property to a person (the trustee) to hold that property on trust for the benefit of another person (the beneficiary) in accordance with terms set out by the settlor. Trusts have become a popular wealth management tool today. Thanks to a rapidly ageing population and growing wealth, individuals and families are looking for a confidential means of succession planning and asset ownership while mitigating estate and other tax exposures. Trusts can be used for the following purposes: 1. To preserve wealth through succession planning Trusts are an extremely effective structure to use when dealing with family assets and the rights of individual family members over those assets. A trust protects against wealth fragmentation, which often occurs after immediate distribution to heirs upon death. The distribution intervals of a trust to the beneficiaries can be stipulated and placed under the trustee s control in order to best look after the interest of the beneficiaries. 2. To provide asset and creditor protection Trusts can reduce tax liabilities, and protect assets from future creditors or certain civil suits to the extent permitted by law. In the event that new unfavourable legislation is implemented, trusts can help insulate one s assets from being seized or blocked. 4. Islamic Trusts Muslims can enjoy the many benefits a trust can provide while fulfilling their religious obligations. In addition to confidentiality and asset protection, an Islamic trust offers Shariah-compliant distribution and succession planning. Investment of the trust s underlying assets will also be conducted in a Shariah-compliant manner. 5. Escrow Services With global transactions that are often large in complexity and size, the risks of counterparty default and aborted commercial transactions can be a constant worry for businesses. Our Escrow Services can help safeguard the interests of clients. 3. To allow continued control over business assets Trusts when set up in well-regulated jurisdictions s can offer continued control over business assets, without sacrificing the benefits of protection and confidentiality. A good example is the VISTA trust, available in the British Virgin Islands, which makes special provision for trusts of shares in companies, relieving trustees from the management of the company except in certain circumstances. Another special trust structure is the Private Trust Company (PTC), which is a company formed for the specific purpose of acting as trustee of a single trust, or a group of related trusts. Settlor Heritage Singapore / HK / NZ / Brunei / BVI Trust Deed Beneficiaries administration and protection of assets

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