Company Formation Agent Firm of the Year Contact
John Hanafin Sovereign Corporate Services JLT Suite 801, Reef Tower Jumeirah Lake Towers Dubai, United Arab Emirates Tel: +971 4 448 6010 Fax: +971 4 448 6011 Email:
jhanafin@sovereigngroup.com Website:
www.SovereignGroup.com
Firm Profile
The Sovereign Group’s core business is setting up and managing companies, trusts and other compliant structures to meet the specific personal or business needs of its clients. Typically these would include tax planning, wealth management, succession planning, foreign property ownership and facilitating cross-border business.
The first Sovereign office opened in Gibraltar in 1987 and the Group now has offices in over 25 international finance centres worldwide. This enables us to provide local expertise on an international scale and gives clients access to a global service from a local point of delivery. In all jurisdictions that require us to be licensed we have applied for, and been granted, the appropriate authorisations.
We work with public companies, charities and professional law and accountancy firms, but the majority of our clients are individuals – expatriates, entrepreneurs, consultants, private investors and high net worth individuals and their families. First we need to understand a client’s personal and business affairs, their requirements and goals. We can then design a structure that will be functional, cost effective and fully compliant.
Incorporation Services – Sovereign has offices or agents in all the major offshore and onshore jurisdictions, providing comprehensive, worldwide company incorporation, administration and management services.
Trust Services – We can advise on all aspects of setting up trust structures, including the drafting of trust deeds, and provide ongoing trustee services of the highest quality. Our independence means we are free to source the best investment terms for the trust funds under our administration.
Tax Planning – It is relatively straightforward to set up or purchase a company, but proper advice must be obtained on the ownership structure, administration
and organisation of any commercial arrangements. Sovereign employs leading professionals and has access to prominent external experts so we can advise on even the most complex structures and transactions.
To serve our client base better we have further developed a wide range of supporting services that includes:
Wealth Management – Sovereign Asset Management (SAM) provides objective and impartial investment advice and other wealth management services to Group clients. With substantial assets under management, SAM obtains optimum terms and service levels from wealth managers and provides enhanced levels of oversight and security.
Succession Planning – Sovereign provides practical, tax efficient strategies to ensure the smooth and timely transition of family wealth. By using private trust companies, foundations, family investment companies, as well as traditional trusts, we create structures that enable clients to fulfil their dynastic objectives.
Residency and Immigration – Changing your residency to a low or zero-tax jurisdiction can often be the most effective way of reducing tax. Sovereign can assist with all aspects of personal migration, including applications and assessing programmes in a large variety of jurisdictions.
Fund Services – Sovereign offers a “turn-key” service to clients setting up funds in all leading regulated jurisdictions. This includes formation and licensing of funds and fund management companies, prospectus drafting, tax structuring and fund administration services.
We also provide: accountancy services in jurisdictions worldwide (Sovereign Accounting Services); full range insurance services through our regulated insurance broking subsidiary (Sovereign Insurance
Services); full range marine and aviation services
RegisterAnAircraft.com);
pension schemes and transfers; payroll services; and online gaming licence services.
Sovereign Middle East Sovereign Corporate Services JLT has been licensed in Dubai since 1998 and is now one of the largest corporate services providers operating in the Middle East. We are a registered agent for the free zones of Dubai, including Ras Al Khaimah (RAK) and Jebel Ali and have further expanded our presence in the Gulf States by opening offices in Bahrain and Abu Dhabi. Our particular areas of expertise include: • International company formation • UAE Free Zone formation • UAE local LLC (51% / 49%) formation • Trust creation and administration • Mutual Fund formation and administration
• Immigration and passport programmes • Pension Trustees (QROPS and QNUPS) • Payroll & accounting services
notable Client Work
Sovereign Corporate Services JLT assisted a leading global flight simulation firm to establish the first licensed business of its kind in the UAE. Sovereign liaised with the Department of Economic Development to secure business registration, licensing and commercial protection in Dubai. The most important aspect was to ensure that the UAE operation remained under the umbrella of the global business brand in the most tax efficient way while maintaining the intellectual property of the business offshore.
Sovereign also advised and assisted a publicly listed UK media firm to establish in the Dubai Media City free zone and Abu Dhabi. The UAE business setup was managed and executed effectively and swiftly by incorporating subsidiaries of the PLC to own the businesses in the UAE.
Finance Monthly GLOBAL AWARDS 2013 63
(
RegisterAYacht.com and international
UAE
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