Sovereign Corporate Services JLT
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Sovereign Corporate Services JLT SovereignGroup.com ABOUT SOVEREIGN 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 our clients. Typically these would include tax planning, wealth management, succession issues, foreign property ownership and facilitating cross-border business. “ This (preparing his The first Sovereign office opened in In addition to high net worth individuals tax return) is too difficult Gibraltar in 1987. The group now offers and their families, our clients include for a mathematician. services from over 20 strategically professionals, expatriates, entrepreneurs It takes a philosopher.” located offices worldwide and provides and businesses of all sizes. To meet their Albert Einstein a comprehensive, global company requirements, we have also developed a German theoretical physicist (1879-1955) incorporation, administration and wide range of supporting services that management service. embrace banking, tax advisory, legal, accounting, insurance, funds, intellectual Operating in Dubai since 1998, Sovereign property, as well as yacht registration. is a registered agent for the free zones of Dubai, including Ras Al Khaimah (RAK) and Jebel Ali. CHOICE OF SERVICES Incorporation Services Residency The Sovereign Group has offices or Establishing residency in a low or no-tax “ The avoidance of taxes is agents in ALL the major offshore and jurisdiction can often be the most effective the only intellectual pursuit onshore financial centres, enabling us way of reducing personal taxation. Equally, that carries any reward.” to provide a comprehensive global, in the global economy, people are obliged John Maynard Keynes company incorporation, administration to relocate with increasing frequency. British economist (1883-1946) and management service. Dubai-based Any such move can have significant tax Sovereign Corporate Services is also a implications. We can assist with all aspects registered agent for the Free Zones of of personal migration, including processing Dubai (including RAK and Jebel Ali). residency applications and advising on appropriate pre- and post-immigration tax Trust Services and estate planning. The Sovereign Group can advise on all aspects of setting up trust structures, Tax Planning including drafting trust deeds and tax The Sovereign Group employs qualified advice, and provide an ongoing trustee professionals and also has access to service of the highest quality. Our some of the world’s leading tax experts. independence enables us to source the This enables us to advise on complex best investment terms for the funds under structures and transactions at fee rates that our administration because we are not are well below those charged by the large tied to proprietary products and services. international law and accountancy firms. Banking Services Yacht Registration Opening new bank accounts has become Gibraltar-based RegisterAYacht.com increasingly difficult and time consuming. provides a comprehensive marine service, The Sovereign Group has long-standing including: registration or change of yacht relationships with banks throughout the ownership or name; transfer to another world and can arrange introductions and registry; full management services; and ensure that all aspects of account opening competitive insurance. Registration of a are processed speedily and efficiently. yacht in the name of a company can offer benefits in respect of confidentiality, tax, “ What is the difference Fund Services inheritance, asset protection and liability. between a taxidermist We can assist in the formation and and a tax collector? licensing of various types of collective Succession Planning The taxidermist takes investment schemes and mutual funds The Sovereign Group will devise and only your skin.” in a wide variety of jurisdictions including: implement compliant and tax efficient Mark Twain the Cayman Islands, Bahamas, BVI, strategies to ensure the smooth and timely US author (1835-1910) Gibraltar, Isle of Man or Luxembourg. transition of family wealth. By using private In addition to preparing the fund prospectus companies, foundations, guarantee and subscription, management and companies – as well as, or instead of, trusts advisory agreements, we can arrange for – we can create structures that permit the the provision of custodian, administration founder or settlor to retain an appropriate and auditing services. degree of influence over their assets, whilst meeting all their dynastic objectives. SETTING UP IN THE UAE There are, depending upon purpose, a number of different ways to set up a business establishment in the UAE. A limited liability company (LLC) is the most common vehicle in Dubai and Abu Dhabi, and is recommended where the purpose is to make retail sales within the region. It should be noted that 100% foreign ownership of such an entity is not permitted in the UAE except for non-trading branches and representative offices of foreign companies and provided that a local agent is appointed. “ We contend that for a Free Zone registration is an alternative A free zone company will typically nation to try to tax itself option. This will also enable 100% foreign operate under one, or more, of four into prosperity is like a ownership and is often more cost effective. licence categories: commercial, general man standing in a bucket The UAE now boasts many free zones trading, industrial or service. Free zone and trying to lift himself including: the Jebel Ali Free Zone (which registrations do not require a local up by the handle.” was the first); Dubai International Airport sponsor but companies that wish to sell Sir Winston Churchill Free Zone; Dubai Internet City; Dubai goods or services within the UAE must British statesman and author (1874-1965) Media City; Sharjah Airport International pay 5% duty and appoint a local service Free Zone; Ajman Free Zone; and the agent. Overseas sales are free of any duty. Ras Al Kaimah Free Trade Zone. Please note that new free zones are being created and some of the existing free zones are reaching capacity. Please contact our Dubai office for free zone specific information. “Ihold in my hand 1,379 pages of tax simplification.” Delbert L. Latta THE SOVEREIGN GROUP US Congressman (born 1920) ABU DHABI GIBRALTAR HONG KONG SEYCHELLES Tel: +971 2 495 2786 Tel: +350 200 76173 Tel: +852 2542 1177 Tel: +248 321 000 [email protected] [email protected] [email protected] [email protected] BAHAMAS RegisterAnAircraft.com Sovereign Accounting Services SINGAPORE Tel: +1 242 322 5444 Tel: +350 200 44620 Tel: +852 2868 1326 Tel: +65 6222 3209 [email protected] [email protected] [email protected] [email protected] BRITISH VIRGIN ISLANDS RegisterAYacht.com ISLE OF MAN SOUTH AFRICA Tel: +1 284 495 3232 Tel: +350 200 51870 Tel: +44 (0)1624 699 800 Tel: +27 21 683 1045 [email protected] [email protected] [email protected] [email protected] CHINA Sovereign Accounting Services MALTA SWITZERLAND Tel: +8621 6103 7089 Tel: +350 200 48669 Tel: +356 21 228 411 Tel: +41 (0)21 971 1485 [email protected] [email protected] [email protected] [email protected] CYPRUS Sovereign Asset Management MAURITIUS TURKS & CAICOS ISLANDS Tel: +357 25 733 440 Tel: +350 200 41054 Tel: +230 403 0813 Tel: +1 649 946 2050 [email protected] [email protected] [email protected] [email protected] DENMARK Quest Sovereign THE NETHERLANDS UNITED KINGDOM Tel: +45 4492 0127 Insurance Services Tel: +31 (0)20 428 1630 Tel: +44 (0)20 7389 0644 [email protected] Tel: +350 200 44609 [email protected] [email protected] [email protected] DUBAI NETHERLANDS ANTILLES URUGUAY Tel: +971 4 448 6010 GUERNSEY Tel: +599 9 465 2698 Tel: +598 2 900 3081 [email protected] Tel: +44 (0)1481 729965 [email protected] [email protected] [email protected] PORTUGAL www.SovereignGroup.com Tel: +351 282 340 480 [email protected] 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 authorised by 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 Man Financial 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. General Enquiries Sovereign Corporate Services JLT Tel: +971 4 448 6010 Suite 801, Reef Tower [email protected] Jumeirah Lake Towers www.SovereignGroup.com P.O. Box 62201, Dubai, UAE Design: Alan Pitchforth / [email protected] Licensed and Registered as a Free Zone Company under the Rules and Regulations of DMCCA.