Schedule of fees applicable

Main categories

CHF 1'200.-	TRUSTEE FEES per annum (pro rata in year one + CHF 200.- + legal fees)
	Economic Settlors are free to use their own solicitor(s) to issue the Trust Deed and or to act on any legal matters on behalf of the Trust. The Kestrel Group can make recommendations of solicitors if so wished.
USD 900.-	REGISTERED AGENT FEES per annum (USD 1'000.- on year one NO PRO RATA)
CHF 1'600.-	DIRECTORS FEES per annum (pro rata on year one)

CHF 1’800.-	BASIC ACCOUNTING/ADMIN FEES per annum (CHF 450.- per quarter applicable when we have to keep the books which is the case if we are running one or several bank accounts).
	BASIC ACCOUNTING/ADMIN FEES might be reviewed on a case by case basis depending on the volume of book entries; special services provided by the Kestrel Group; special and or personalized reports; number of meetings; volume and type of communication i.e. by e-mail, mail, faxes and or phone calls.

Sundries

CHF 600.-	ACTIVCARD one off fee to set up the service and deliver the token (will be charged again in case of loss or in case of destruction of the card)
CHF 150.-	ACTIVCARD per annum to use E-Services (30 MB at disposal)
CHF 21.-	TRANSFER FEES per out-going transfer.
CHF 50.-	CLARIFICATION FEES per clarification when we need to open a TRANSFER SUSPENSE CASE with our compliance department
CHF 15.-	CONFIRMATION FEES per confirmation when a confirmation is needed for “INFLOW” and or “OUTFLOW” of funds.
1%	CASH DELIVERY FEES on 1% of the gross amount delivered (minimum CHF 120.-)
CHF 300.-	SAFE DELIVERY FEES (per transaction)
CHF 350.-	CONTRACT FEES per contract
CHF 120.-	TRADING FEES per invoice or order issued by us / 0.5% of the turnover for bid bonds & LC’s
CHF 600.-	CHANGE OF NAME FEES per name change of a Trust, Company or Personal Account
CHF 4'000.-	CHANGE OF ADMINISTRATION FEES for the transfer to another administration, per Trust, Company or Personal Account (no refund on fees already paid for the other services).
CHF 250.-	CHANGE a Letter of Wishes
CHF 450.-	CHANGE the Class of Discretionary Beneficiaries (+ legal fees at cost if applicable)
CHF 450.-	CHANGE of Trustee(s) (+ legal fees at cost if applicable)
CHF 450.-	CHANGE of Protector(s) (+ legal fees at cost if applicable)
CHF 450.-	CHANGE THE GOVERNING LAW of a Trust (+ legal fees at cost if applicable)
CHF 450.-	CHANGE THE REGISTERED OFFICE of a Company (+ legal fees at cost if applicable)
CHF 450.-	CHANGE of Director(s) or Officer(s) of a Company
CHF 450.-	CHANGE on the Share Register of a Company
CHF 750.-	STRIKE OFF a Company / Dissolve a Trust
CHF 3000.-	FORMAL LIQUIDATION of a Company
CHF 750.-	BANK A/C OPENING FEES per bank account to be opened other than banks usually used by the Kestrel Group. In normal circumstances, the 1st bank account won’t be charged. In case of difficulty to open a bank account, some additional fees might be charged.
CHF 750.-	COMPLIANCE FEES per request issued by banks and/or professional financial intermediaries
CHF 500.-	MEETING FEES might be charged on a case by case basis
0.2%	SUBSCRIPTION/REDEMPTION FEES 0.2% of the gross amount (minimum CHF 750.-)
0.3 to 0.5%	PROPERTY PURCHASE/SALE FEES 0.3 to 0.5 % depending of the volume of work (minimum CHF 1’500.-)
Time Sheet	In normal circumstances we do not charge on a Time spent basis. Special cases will however be invoiced based on the time spent.
	Kestrel S.A. and or Rushbrooke Investissements S.A. might, in certain cases, receive some retrocession of certain fees from a financial counterparty. Said retrocession would be used to keep the lowest level of fees for our clients since they are for the sole benefit of Kestrel S.A. and or Rushbrooke Investissements S.A. and involve no increase in the fee charged by the counterparty.