Wealth Management
Trust Training Certificate (TTC) (version 2.0) - Unit 18: Trust for Security Arrangements, Commercial and Employee Benefit Needs
Overview
This is Unit 18 of the "Trust Training Certificate ("TTC") (version 2.0) training programme".
This eCourse is prepared based on the recorded version of the webinar session held on 26 September 2024. Please note that the examination is based on the study guide and slide deck, which can be downloaded from the eCourse. For participants who plan to take the TTC Part B Stream 2 Examination at a later date, you should ensure you read the study guide and materials provided via the examination enrolment link.
It consists of one module:
Module 20: Some commercial uses of trust
If you wish to register for the full TTC (version 2.0) Part B Stream 2 Training Programme and Examination, click here.
Objective
On completion of this eCourse, you will:
- Understand the structure and purpose of the various trusts (escrow, REITS, employee benefit, pre IPO, business trusts, employee share/option plan) and their uses;
- Identify the various parties to each of these trusts and explain what their role is;
- Explain when these various types of trusts are needed and the circumstances under which each would be a suitable vehicle for a client;
- Be able to list any key elements that must be present for these different types of trusts;
- Be able to list the advantages of Pre IPO Founder trusts; and
- Understand and explain how employee share and option plans are structured, their advantages and the tax and reporting implications.
Content
This Module concentrates on trusts for broader commercial uses which include:
1. Trusts as escrow arrangements;
2. Trusts to provide for security – “Quistclose Trusts” Security Trustee & Bond Trustee Arrangements;
3. Trusts for security in litigation/court cases/mediation;
4. Business trusts;
5. Real Estate Investment Trusts (REITS);
6. Employee benefit trusts;
7. Medical scheme trusts;
8. Pre IPO founder share trusts; and
9. Employee share/option plan / trusts and their structure and tax implications.
Who should attend
This course is primarily designed for individuals who are interested in obtaining the "Trust Training Certificate" to qualify for the Hong Kong Trustees' Association Certified Trust Practitioner™ designation.
It is also relevant for individuals seeking a comprehensive understanding of the course subject matter and those planning to enter the Trust industry sector.
Speaker/Course Instructor
Richard advises trustees, ultra-high net worth individuals, private trust companies and family offices on the establishment, restructuring and administration of trusts. He regularly assists in estate administration, succession planning and family governance. Private clients and family offices instruct Richard to advise on the use of corporate vehicles for asset holding and succession planning purposes. Richard is an expert in regulatory law including AML, AEOI, economic substance, sanctions and licensing and risk management for trust companies. He also advises on collective investment funds, particularly unit trusts and private label funds.
Richard has acted for many of the world’s leading trust companies, financial institutions, wealthy individuals and related structures. He has experience with dealing with clients and advisors across the globe.
Richard has over 23 years’ post qualification experience with the majority spent in offshore firms. Richard has lived and worked in Jersey, London, the Cayman Islands and (since 2009) Hong Kong. He is admitted as a solicitor in England and Wales and the British Virgin Islands and is a Registered Foreign Lawyer in Hong Kong. He has also been admitted as an Attorney in the Cayman Islands.
Recently, he has been recognised in the 2023 edition of the Private Client Global Elite Directory and also selected as one of the world’s leading practitioners in the Who’s Who Legal Thought Leaders: Private Client 2023 report.