# Corporate Structure & Legal Documentation

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**Holding Co**&#x20;

Starting at the top, the Group’s holding company (“Holding Co”) will be incorporated in the British Virgin Islands (“BVI”) and will hold full equity ownership in all subsidiaries.&#x20;

**Platform Co**&#x20;

A separate BVI entity (“Platform Co”) will be incorporated to act as the operator of the TRL platform (“Platform”) and issuer of the $TRLCO tokens.&#x20;

**Additional Companies**&#x20;

Setting up separate operations/tech companies in Singapore and the United States Of America (“US”) is tax and funding motivated. These companies will develop the technology for the Platform and the Group’s intellectual property (“IP”) be held by one of those entities.&#x20;

**Token SPVs**&#x20;

In respect of the tokenization structure for the various $TRLX tokens, the structure is that:&#x20;

(a) Assets: properties or small businesses in each jurisdiction will be owned by a local special purpose vehicle (“SPV”) in that same jurisdiction (“Local SPV”);&#x20;

(b) Each Local SPV will then be fully owned by an offshore SPV (“Offshore SPV”);&#x20;

(c) Each Offshore SPV will be tokenized and act as the issuer of their respective $TRLX tokens.<br>

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\*Essentially any asset can be tokenized be it properties or small businesses under our legal framework. Underlying assets that are owned by the local SPVs are also owned by the Offshore SPVs (where the tokens are issued) and this will be based on an economic interest model.&#x20;


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