RRSP INVESTMENT STEPS IN DETAIL
Here in detail, are the steps you take to become a Limited Partnership Investor with Prestigious Properties.
Step 1 – Opening an Account with OlympiaTrust – Green Forms
Please fill in the OlympiaTrust account forms (green forms) to open an account with OlympiaTrust. OlympiaTrust will be your trustee. This trustee operates at arms length to you and to us. Since you will tell OlympiaTrust what to invest in, your account is also referred to as a self-directed RRSP.
If you have money at another institution, and wish to move money into this new RRSP account (now administered by OlympiaTrust), please fill in the attached account transfer form. This process of transferring securities or money from another RRSP trustee can take up to six weeks. We can accept an investment into Prestigious Properties only once it has been transferred into your OlympiaTrust account.
If you wish to add money into this RRSP directly (i.e. not from another institution) please attach a cheque made out to “OlympiaTrust c/o <YOUR NAME> RRSP Account” with the investment amount plus any RRSP fees. OlympiaTrust will mail you a receipt that you can use for tax purposes.
OlympiaTrust Admin Fee: Please add sufficient $s to your transferred amount or the cheque to cover the annual RRSP admin fee of $125 and $75 + GST ($210 in total) for the bonds you will be purchasing from PRAC (Prestigious RRSP A Capital Inc.).
We will forward these forms/cheques to OlympiaTrust on your behalf.
Step 2 – Using RRSP Money to Invest – Pink Forms
Please read and understand the offering memorandum entitled Prestigious RRSP A Capital Inc. (PRAC). Please fill in the associated signatures pages (pink forms) to instruct OlympiaTrust to use your RRSP money to purchase bonds issued by Prestigious RRSP A Capital Inc. Each bond is worth $100 and pays or accrues 4.5% annually. This interest may be accrued and may not necessarily be paid annually.
Schedule A: Please fill out schedule A and sign where indicated. Each LP unit (worth $5,000) requires the purchase of 50 bonds. So, for example, if you invest $50,000 you must purchase 500 bonds.
Schedule B: Please read and sign this form.
Schedule C: If you reside in AB, MB or SK and invest more than $10,000 you must fill out this page. Leave blank if you invest $10,000 only. Leave blank also if you do not reside in AB, MB or SK (for any amount).
Schedule D: For residents of Ontario or Quebec ONLY: you must be an accredited investor and must fill out schedule D and initial on its Appendix A where applicable.
Indemnity / Authorization Forms: Please fill out and sign the indemnity agreement that indemnifies OlympiaTrust, and the form that authorizes OlympiaTrust to provide RRSP bond related data to us.
Prestigious RRSP A Capital Inc. is a subsidiary of Eyelogic, a publicly traded corporation. Therefore, this bond is RRSP eligible. It pays or accrues 4.5% annually to your RRSP. The proceeds of the bond are lent by Prestigious RRSP A Capital Inc. to Prestigious RRSP Investment A Inc. at 5%. Prestigious RRSP Investment A Inc. pays or accrues 5% annually to Prestigious RRSP A Capital Inc. which in turn pays or accrues for you, the bond holder, 4.5%. Eyelogic receives 0.5% annually for its supervisory and bond administration services.
Step 3 - Investing in Prestigious RRSP Investment A Inc. – Blue Forms
Please read and understand the offering memorandum entitled Prestigious RRSP Investment A Inc.Please fill in the associated signature pages (blue forms) to instruct us to use your or any designated person’s personal investment capital to purchase shares in Prestigious RRSP Investment A Inc.To participate in the possibly equity gain or return in addition to an annual 4.5% you (or someone you designate for estate planning or tax reduction purposes) must purchase shares in a corporation called Prestigious RRSP Investment A Inc.outside of your RRSP. For each bond worth $100 in the RRSP you must purchase one share for 10 cents outside the RRSP. So, for example, if you invest $50,000 you must buy 500 shares for $50. This allows you personally (or the dedicated person) to participate in the non-fixed portion of the underlying real estate that we will purchase with the proceeds from the RRSP bond. These shares are not RRSP eligible.
Schedule A: Please fill out schedule A and sign where indicated. Each LP unit (worth $5,000) requires the purchase of 50 shares. So, if you invest $50,000 you must purchase 500 shares.
Schedule B: Please read and sign this form.
Schedule C: For residents of Ontario or Quebec ONLY: you must be an accredited investor and must fill out schedule C and initial on its Appendix A where applicable.
à Please include a personal cheque with the right investment amount to purchase those shares ß
You do not have to fill out PRISM A LP signature pages (yellow forms). Prestigious RRSP Investment A Inc. will do this on your behalf. You will fill out LP signature pages only with non-RRSP investment money!
Step 4 – Mail Cheques and Forms to Prestigious Properties
Please mail all forms including cheques to:
Prestigious Properties Group c/o Christa Daimer #912, 743 Railway Ave. Canmore, AB T1W 1P2
We will forward the forms and cheques to OlympiaTrust on your behalf.
Please feel free to call or e-mail us with any questions !
T: 403-678-3330 E: christa@prestprop.com.