Carrick Investment Services

1. Carrick Investment Services Because it's what you have, after you have it all, that counts. International Retirement Products Mauritius Presented by Marc Fancy April 2019

2. Agenda • Who are Carrick • Who am I • What we do • International Retirement Plan • International Corporate Pension Plan • Tax efficiency • Estate Planning

3. Deciding to Do Something Different A group of people decided to change the face of financial services Craig Featherby Founder Building a culture of leadership Mike Fannin Non-Executive Director Smooth efficient service meeting client expectations Mike Potts Director Developing high performance teams Bryan Austen Director: Finance Ensuring the security of the company’s assets Marc Fancy Managing Director Passionate about exceeding expectations Rashay Makan Director: Operations Turning plans into reality Greg Stockton Director Developing people and business Anthony Palmer Head of Investment Committee Product development and provider relationships Fiercely independent, meticulous attention to safe and secure investments, unrivalled levels of client service

4. Who am I UK born, Marc has over 20 years of experience in the financial services sector, having worked with some of the world’s largest financial institutions, fund management groups and trust companies spanning three continents. He has opened offices, recruited and developed financial professionals in numerous regulated and licenced jurisdictions globally, including London, Hong Kong, Shanghai, Beijing, Shenzhen and Johannesburg. He has trained, developed, managed, strictly monitored and measured in adherence with and liaising with jurisdictional regulators, the level of advice provided through independent holistic financial planning models within the international teams grown throughout Asia and Africa. Whilst working in the UHNW private client and corporate space he has put the clients’ needs at the forefront of his strategy whilst ensuring strict adherence to and management of regulatory and compliance driven requirements. His qualifications include SFA, FPC 1, 2, & 3, & regulatory exams in Hong Kong and South Africa. Marc Fancy Managing Director.

5. Independence Choice, which means unbiased advice. Impartial advice driven by correct solutions rather than product choice. Terms of Business with multi-national investment institutions and specialist offshore structuring advice firms.

6. To Date Regulation Presence Team Assets Award Winning Administers over USD300 million assets under management. Best Practice Awards for: Business Transformation Investment Planning Client Servicing Client Engagement & Marketing Employ over 165 staff more than half are in an advisory capacity. 3 Global Licenses in Mauritius means a global presence. 7 offices in 5 countries - regulated in multiple jurisdictions.

7. An Ongoing Journey 2020 Vision • 200 Advisers • USD 1.2 billion AUM • 10 New Offices

8. Carrick Concierge Concierge benefits include: Full Portfolio Assessment Secure Client Login Concierge Service Desk Foreign Exchange International Property Tax Advice Risk Assessment Offshore Bank Accounts Wills and Estates Discretionary/Pension Trusts Grow your Wealth. Protect your Wealth. Preserve your Wealth.

9. International Retirement Plan Key features and benefits ■ Provision of retirement benefits for members through asset protection and succession planning ■ Post-tax monies ,Contribution to a pension, No donations tax / loan acc,Lump sum contributions, Ad-hoc top-ups permitted ■ Gross roll up environment ■ Return of capital contributed, Capital Gains ■ Income (drawdown/annuity) ■ Fully protected ■ Mitigation of Exchange control risk, Currency risk, Social & political risk, Diversification risk, Market risk, Creditors risk, Certainty over future ■ Falls outside the estate, No estate duty payable, No probate, No foreign will required, No executor’s fees ■ Accessibilitymandatory at Age 50, LOW sent to trustees

10. Case Study: Consolidation Existing Offshore Wealth For Retirement Foreign assets held in IRP Assets held in own name Historic Position • No asset protection • Open to full probate (foreign & SA) requirements • Interest, dividends and capital gains taxable on an arising basis • Subject to estate duty on world-wide asset • No efficient succession planning • Carries moderate Rand risk • Pension funded is over reliant on SA assets New Position • Assets fully protected • Assets consolidated into a manageable portfolio • Foreign probate and estate issue mitigated • Interest, dividends and capital gains roll up tax free to build wealth • Not subject to estate duty • Highly efficient succession options now available • Mitigate political risk • Remove currency and jurisdictional risk • Cost effective • Access & flexibility re benefits R5 mil Funds International Retirement Plan £350K Foreign Share Consolidate assets by transferring to IRP £50K bank AC Financial Outcomes • No tax on income and gains arising in the plan • Income tax savings of R4,8 mil over the next 20 years based on R600,000 income p.a. • Estate duty Saving of R3,5 mil • Saving of executor fees at circa R700,000 • Distribution of assets within 7 Days, saving on average 358 days on the average estate wind up • No tax on return of Capital • Thereafter benefit taxed to CGT or Income

11. IRP - Conclusion • Protect your client and their family from geopolitical risk, legislation affecting local assets and claims on their wealth • Hedge client’s wealth against Rand devaluation and retain their global purchasing power • Construct true diversified international investment portfolios for clients • Address the cross border issues that come with foreign asset ownership incl. probate, estate matters and taxes • Enjoy good levels of tax efficiency • Create a safe haven for part of your client’s wealth, use excon, consolidate or modernise • Achieve the right outcome for clients in a simple non-complex way • Cost-effective • Provide peace of mind to your client and their family

12. International Corporate Pension Plan Key features and benefits for employees ■ ICPP is structured to provide retirement benefits, it is a dedicated vehicle for accumulating pension assets that are globally accessible. ■ Flexible contributions that can be tailored to meet the needs of employees. ■ Access to international investments and a choice of major currencies. ■ A high level of flexibility, with retirement from age 55. ■ Lifetime retirement benefits by way of lump sum/drawdown and/or annuity. ■ Competitive pricing. ■ Protection of assets from foreign: succession rules, probate, wills and potential tax associated with death. ■ In the event of death, the value of the plan is made available to the beneficiaries in a short period of time. ■ Options to continue the plan after changing employer, regardless of where the employment is located.

13. International Corporate Pension Plan Key features and benefits for companies ■ ICPP is an international pension plan with underlying sub-plans for each corporate member and their individual employees. Online administration provides easy access for members irrespective of their number or location. ■ Employers can choose to make contributions. ■ Corporate members can select between income tax approved or exempt membership options or both, depending on the nature of their business and location of employees. ■ The employer has a range of options open to them in terms of vesting of corporate contributions, investment and currencies, retirement age and the treatment of an employee’s fund on leaving the company through resignation or retirement. This provides the employer with control and flexibility. ■ The ability to offer an international benefit solution to attract and retain talent globally.

14. International Corporate Pension Plan Conclusion Foreign assets held in own name ✘ No asset protection ✘ Subject to foreign probate requirements ✘ Capital gains, interest and dividends taxable ✘ No efficient succession options ✘ Estate duty implications Saving in an IPP ✔ Investment in hard currency ✔ Asset held in AA- rated jurisdiction ✔ Unlimited contributions ✔ Assets are protected ✔ Foreign probate can be mitigated ✔ Tax free roll up

15. Summary ■ Tax Efficiencies ■ Estate Planning

16. Tax efficiencies Contributions do not attract donations tax Income and gains roll up tax free No tax on the return of contributions Capital gains and/or income tax payable only when distributed at personal rates Mitigates estate duty If structured correctly, CGT mitigation can be attained on payment to beneficiaries

17. Probate, estate and succession No local and foreign estate probate procedures Avoids executor fees and the need for foreign wills Assets transfer at death is almost immediate No need to bring funds back to domicile/resident country Total flexibility in determining beneficiaries Plan sits outside of your estate for inheritance tax purposes Opportunity for multi-generational estate planning

18. Thank you! Carrick Wealth 4th Floor, Office Lot 409, The Catalyst Building, Silicon Avenue, Ebene Cybercity, Mauritius | Tel: +44 (0) 203 1399 013 Carrick Investment Services - Authorised by the Financial Services Commission C114013661