DnB NOR Private Banking

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DnB NOR Private Banking

• London, January 17 2008

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Private Banking Services

• Financial planning
• Wealth management
• Open structure and top of class investment
  products
• Financing of securities and real estate in
  France, Spain
• Unique expertise of Norwegian investments and
  conditions

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Savings and investments
Credits
Discretionary and advisory services
Wealth Management
Banking services
Insurance
Offshore services
Inheritance
Tax and legal services
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Products and Services
Independent selection of leading fund
managers DnB NOR Asset Management Carlson
fonder - Pareto Fidelity - Sector Sparinvest
- JP Morgan Fleming Merrill Lynch East
Capital- Odin fonder Skagen fonder and
additionally ca 30 000 funds Extensive screening
process by Investment committee and Mercer
Consulting
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Property loans in Spain and France

• Financing of purchases
• Refinancing of existing loan
• Free capital to diversify wealth
• Reduce inheritance tax

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Terms and conditions

• Up to 70 of the value of the property
• Interest-only payments for up to 10 years
• Repayment terms up to 30 years
• Variable interest rate. Can pay interest on a 3,
  6 or 12-month basis
• Competitive prices
• Euro and other loan currencies available
• 1st priority security

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Inheritance taxation in Spain

• Payment of inheritance tax within 6 months
• No possibilities to retain undivided possession
  of an asset (uskiftet bo)

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Inheritance planning Spain Example without loan

• House value 600,000, wife and 1 child
• I Surviving spouse inherits Half of the
  property's value 300 000.00 Tax deduction
  for spouse 15 956.87 Inheritance tax
  basis 284 043.13 Inheritance tax approx.
  27 76 691.61
• II Upon the death of the surviving spouse, the
  child inherits Entire property 600 000.00
  Tax deduction for child 15 956.87
  Inheritance tax basis 584 043.13
  Inheritance tax approx. 30 175 212.93
• Total inheritance tax without loan
  251.904,55
• simplified calculation of Spanish inheritance
  tax done by Einar Askvig, Vogt Abogados.

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Inheritance planning Spain Example with 70 loan

• House value 600,000, wife and 1 child, loan
  420 000 (invested outside Spain)
• I Surviving spouse inherits Half of net
  market value 90 000.00 Tax deduction for
  spouse 15 956.87 Inheritance tax basis 74
  043.13 Inheritance tax approx. 15.5 11
  476.68
• II Upon the death of the surviving spouse, the
  child inherits Total net market value
  180 000.00 Tax deduction for child
  15 956.87 Inheritance tax basis
  164 043.13 Inheritance tax approx. 23
  37 729.92
• Total inheritance tax in example 49
  206.60
• Comparison without loan ? reduction in
  inheritance tax 202 697.95
• Please note that this is a simplified
  calculation of Spanish inheritance tax.

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Inheritance taxation in France

• Less possibilities of inheritance planning due to
  tax exemption of 150,000 per child per parent

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Advantages with DnB NOR Private Banking

• Personal Account Manager
• Assistance in loan- and communication process
  and..
• No language barriers
• No life insurance required for holiday home
• No age restrictions
• Longer interest-only periods (grace periode)
• No redemption charges
• Private Banking Services

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Contact us

• Henrik Strömqvist Håkon E. Hansen
• Senior Account Manager Head of Private Banking
• Tel [phone] Tel [phone]
• Mobil 352 621 268 076 Mobil 352 621 266
  013
• Fax [phone] Fax [phone]
• E-mail stromqvist_at_dnbnor.lu E-mail hansen_at_dnbn
  or.lu