Bourse Pension
Trustees

The products offered by Bourse Life and Pensions Limited can be summarised below:

1. Executive Portfolio Bonds:
   The Executive Portfolio Bonds allow non-UK residents to make highly personalised investments within a bond structure.
2. Executive Investment Bonds:
   The Executive Investment Bond is an investment bond-type product that is offered by Bourse Life to act as a vehicle through which people can make investments in listed securities and other regulated products.
   
   Policyholders are able to take advantage of the UK regime applicable to offshore bonds, in particular benefiting from ‘gross-roll up’ as no tax is levied on the income and gains of the underlying funds during the life time of the bond.
   
3. Managed Portfolio Bond:
   The Managed Portfolio Bond provides access for advisors regulated under the Insurance Distribution Directive to Bourse Life risk-rated managed portfolios.
4. Retirement Annuity Contract:
   The Bourse Retirement Annuity Contract is a contract based retirement annuity scheme approved by the Director of Income Tax in Guernsey in accordance with provisions of s175A of The Income Tax (Guernsey) Law, 1975, as amended.
   
   The Scheme qualifies for UK purposes as a Qualifying non-UK pension scheme (QNUPS) as defined in section 271A IHTA 1984.
5. Annuities:
   Bourse Life offers flexible, unit-linked annuities which allow the annuitant to determine the value and frequency of payments made to the annuitant whilst offering to the annuitant the stability provided by holding an annuity with a fully-licensed life insurance company.
   
   Bourse Life offers short-term, flexible, fixed-term and lifetime unit-linked annuities as well as annuities certain. Bourse Life is a Non-EEA annuity provided for the purposes of QROPS and IPP end of plan purchases.
   
   Where annuities are purchased by UK resident individuals from post-tax capital, purchased life annuity tax treatment will be available.
6. Policyholder Protection:

   As a fully-licensed insurance company, Bourse Life is obliged to comply with all applicable regulation issued by the Guernsey Financial Services Commission including the requirement for Bourse Life adhere to a Policy Protection Statement agreed with the GFSC.
   
   This includes an obligation on Bourse Life to maintain any assets that are subject to any policy issued by Bourse Life with an independent trustee company, Independent Fiduciary Services Limited.
   
   The assets held by the trustee can then only be released with the express written consent of the independent director of the independent trustee.

Bourse Malta is experienced in structuring and administering Malta-based structures which allow for the ownership of yachts and aircraft whilst securing a reduction in the VAT payable on the yacht or aircraft acquired.

This includes:

• Yacht Leasing:
  Bourse Malta will incorporate a new company to acquire and hold a yacht with the yacht then leased to the client under a lease agreement. At the commencement of the arrangement, Bourse Malta will liaise with the client to establish the best lease-based structure to meet that client’s needs, taking into account the required length of lease, the value of the yacht to be acquired and any other relevant factors. At the end of the lease, the client will acquire the yacht with a reduction in the VAT payable.
  
  
• Commercial Yacht Holding Companies:
  Instead of operating a leasing structure, a client can opt to have Bourse Malta incorporate a new company to acquire and hold a yacht with a view to allowing that yacht to be chartered by third parties (which may include the client). This position is open-ended, allowing the client flexibility on either acquiring or disposing of the yacht.
• Aircraft Leasing:
  Instead of the above arrangements being applied to yachts, a similar structure may be applied to the acquisition of aircraft.