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SovereignGroup.com
Sovereign Corporate Services JLT
ABOUT SOVEREIGNThe Sovereign Group’s core business is setting up and managing companies, trusts andother compliant structures to meet the specific personal or business needs of our clients.Typically these would include tax planning, wealth management, succession issues,foreign property ownership and facilitating cross-border business.
The first Sovereign office opened inGibraltar in 1987. The group now offersservices from over 20 strategicallylocated offices worldwide and providesa comprehensive, global companyincorporation, administration andmanagement service.
Operating in Dubai since 1998, Sovereignis a registered agent for the free zones ofDubai, including Ras Al Khaimah (RAK)and Jebel Ali.
In addition to high net worth individualsand their families, our clients includeprofessionals, expatriates, entrepreneursand businesses of all sizes. To meet theirrequirements, we have also developed awide range of supporting services thatembrace banking, tax advisory, legal,accounting, insurance, funds, intellectualproperty, as well as yacht registration.
“ This (preparing histax return) is too difficultfor a mathematician.It takes a philosopher.”Albert EinsteinGerman theoretical physicist(1879-1955)
CHOICE OF SERVICESIncorporation ServicesThe Sovereign Group has offices oragents in ALL the major offshore andonshore financial centres, enabling usto provide a comprehensive global,company incorporation, administrationand management service. Dubai-basedSovereign Corporate Services is also aregistered agent for the Free Zones ofDubai (including RAK and Jebel Ali).
Trust ServicesThe Sovereign Group can advise onall aspects of setting up trust structures,including drafting trust deeds and taxadvice, and provide an ongoing trusteeservice of the highest quality. Ourindependence enables us to source thebest investment terms for the funds underour administration because we are nottied to proprietary products and services.
ResidencyEstablishing residency in a low or no-taxjurisdiction can often be the most effectiveway of reducing personal taxation. Equally,in the global economy, people are obligedto relocate with increasing frequency.Any such move can have significant taximplications. We can assist with all aspectsof personal migration, including processingresidency applications and advising onappropriate pre- and post-immigration taxand estate planning.
Tax PlanningThe Sovereign Group employs qualifiedprofessionals and also has access tosome of the world’s leading tax experts.This enables us to advise on complexstructures and transactions at fee rates thatare well below those charged by the largeinternational law and accountancy firms.
“ The avoidance of taxes isthe only intellectual pursuitthat carries any reward.”John Maynard KeynesBritish economist (1883-1946)
Banking ServicesOpening new bank accounts has becomeincreasingly difficult and time consuming.The Sovereign Group has long-standingrelationships with banks throughout theworld and can arrange introductions andensure that all aspects of account openingare processed speedily and efficiently.
Fund ServicesWe can assist in the formation andlicensing of various types of collectiveinvestment schemes and mutual fundsin a wide variety of jurisdictions including:the Cayman Islands, Bahamas, BVI,Gibraltar, Isle of Man or Luxembourg.In addition to preparing the fund prospectusand subscription, management andadvisory agreements, we can arrange forthe provision of custodian, administrationand auditing services.
Yacht RegistrationGibraltar-based RegisterAYacht.comprovides a comprehensive marine service,including: registration or change of yachtownership or name; transfer to anotherregistry; full management services; andcompetitive insurance. Registration of ayacht in the name of a company can offerbenefits in respect of confidentiality, tax,inheritance, asset protection and liability.
Succession PlanningThe Sovereign Group will devise andimplement compliant and tax efficientstrategies to ensure the smooth and timelytransition of family wealth. By using privatecompanies, foundations, guaranteecompanies – as well as, or instead of, trusts– we can create structures that permit thefounder or settlor to retain an appropriatedegree of influence over their assets, whilstmeeting all their dynastic objectives.
“ What is the differencebetween a taxidermistand a tax collector?The taxidermist takesonly your skin.”Mark TwainUS author (1835-1910)
SETTING UP IN THE UAEThere are, depending upon purpose, a number of different ways to set up a businessestablishment in the UAE. A limited liability company (LLC) is the most common vehiclein Dubai and Abu Dhabi, and is recommended where the purpose is to make retail saleswithin the region. It should be noted that 100% foreign ownership of such an entity is notpermitted in the UAE except for non-trading branches and representative offices offoreign companies and provided that a local agent is appointed.
Free Zone registration is an alternativeoption. This will also enable 100% foreignownership and is often more cost effective.The UAE now boasts many free zonesincluding: the Jebel Ali Free Zone (whichwas the first); Dubai International AirportFree Zone; Dubai Internet City; DubaiMedia City; Sharjah Airport InternationalFree Zone; Ajman Free Zone; and theRas Al Kaimah Free Trade Zone.
A free zone company will typicallyoperate under one, or more, of fourlicence categories: commercial, generaltrading, industrial or service. Free zoneregistrations do not require a localsponsor but companies that wish to sellgoods or services within the UAE mustpay 5% duty and appoint a local serviceagent. Overseas sales are free of any duty.
Please note that new free zones arebeing created and some of the existingfree zones are reaching capacity.Please contact our Dubai office forfree zone specific information.
“ We contend that for anation to try to tax itselfinto prosperity is like aman standing in a bucketand trying to lift himselfup by the handle.”Sir Winston ChurchillBritish statesman and author(1874-1965)
ABU DHABITel: +971 2 495 [email protected]
BAHAMASTel: +1 242 322 [email protected]
BRITISH VIRGIN ISLANDSTel: +1 284 495 [email protected]
CHINATel: +8621 6103 [email protected]
CYPRUSTel: +357 25 733 [email protected]
DENMARKTel: +45 4492 [email protected]
DUBAITel: +971 4 448 [email protected]
GIBRALTARTel: +350 200 [email protected]
RegisterAnAircraft.comTel: +350 200 [email protected]
RegisterAYacht.comTel: +350 200 [email protected]
Sovereign Accounting ServicesTel: +350 200 [email protected]
Sovereign Asset ManagementTel: +350 200 [email protected]
Quest SovereignInsurance ServicesTel: +350 200 [email protected]
GUERNSEYTel: +44 (0)1481 [email protected]
HONG KONGTel: +852 2542 [email protected]
Sovereign Accounting ServicesTel: +852 2868 [email protected]
ISLE OF MANTel: +44 (0)1624 699 [email protected]
MALTATel: +356 21 228 [email protected]
MAURITIUSTel: +230 403 [email protected]
THE NETHERLANDSTel: +31 (0)20 428 [email protected]
NETHERLANDS ANTILLESTel: +599 9 465 [email protected]
PORTUGALTel: +351 282 340 [email protected]
SEYCHELLESTel: +248 321 [email protected]
SINGAPORETel: +65 6222 [email protected]
SOUTH AFRICATel: +27 21 683 [email protected]
SWITZERLANDTel: +41 (0)21 971 [email protected]
TURKS & CAICOS ISLANDSTel: +1 649 946 [email protected]
UNITED KINGDOMTel: +44 (0)20 7389 [email protected]
URUGUAYTel: +598 2 900 [email protected]
www.SovereignGroup.com
THE SOVEREIGN GROUP
Sovereign Trust (Bahamas) Limited is licensed as a Financial Corporate Service Provider – Licence No: 153 / File No. 157. Sovereign Trust (Gibraltar) Limited is licensed by the Financial Services Commission of Gibraltar – Licence No: FSC 00143B. Sovereign Asset Management Limited is authorisedby the Financial Services Commission of Gibraltar to conduct investment business. Sovereign Insurance Services Limited is authorised by the Financial Services Commission of Gibraltar as a general and life insurance intermediary. Sovereign Trust (Isle of Man) Limited is licensed by the Isle of ManFinancial Supervision Commission as a Corporate Service Provider (Licence No. 43,215) and as a Trust Service Provider (Licence No. 43,521). Sovereign Trust (Malta) Limited is authorised to act as a Licensed Nominee. Sovereign Trust (Mauritius) Limited is licensed as a Management Company –Management Licence No. MOBAA/6831. Sovereign Trust (Netherlands) BV is licensed as a Trust Company by the Dutch National Bank – Licence No. 34108349. Sovereign Trust (TCI) Limited is licensed by the Financial Services Commission of the Turks & Caicos Islands – Licence No: 029.Sovereign Trust (Channel Islands) Limited is licensed by the Guernsey Financial Services Commission. RANA is a company incorporated in the Turks & Caicos Islands and is a member of The Sovereign Group.
“ I hold in my hand 1,379 pagesof tax simplification.”Delbert L. LattaUS Congressman (born 1920)
General EnquiriesTel: +971 4 448 [email protected]
Design: Alan Pitchforth / [email protected]
Licensed and Registered as a Free Zone Company under the Rules and Regulations of DMCCA
Sovereign Corporate Services JLTSuite 801, Reef TowerJumeirah Lake TowersP.O. Box 62201, Dubai, UAE
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