Offshore Solutions

Sovereign was established in Gibraltar in 1987 and now the company has offices in all the major international finance centers. It has a total of 27 offices till date with offices in Bahrain, Dubai, Gibraltar, Isle of Man, Cayman Islands, British Virgin Islands, etc. Sovereign currently manages over 7,000 structures for a wide variety of clients worldwide. The majority of the clients are individuals, expatriates, entrepreneurs, freelance consultants, private investors, or wealthy persons and their families. Sovereign have developed a wide range of supporting services embracing asset management, corporate finance and fund raising, specialist tax advice, ship and yacht registration, insurance broking, credit cards, as well as trademark and intellectual property registration and protection. Offshore Companies are often demonized in the media, which paints a picture of investors illegally stashing their money away in banks located on an obscure Caribbean island where the tax rate is next to nothing. While it’s true that there will always be instances of shady offshore deals, the vast majority of offshore investing is perfectly legal. In fact, depending on your situation, offshore Companies may offer you many advantages. Such as:

Minimizing Taxation: Offshore companies established in low or zero tax jurisdictions may reduce, delay or even completely eliminate the tax burden on the company.

Holding Company: The offshore company can easily hold shares in Bahraini Companies (As WLL or SPC), and in other companies outside Bahrain at the same time. So it can act as A Holding Company for an individual`s shares in different entities. The following diagram illustrates the example.
Asset Protection: Placing your personal assets into a separate legal entity is generally a good idea whether you place them in a traditional company within your home country or you place them in an offshore company. Offshore centers are popular locations for restructuring ownership of assets. Through trusts, foundations or through an existing corporation individual wealth ownership can be transferred from people to other legal entities.

Simplicity: One often overlooked aspect of offshore company incorporation is the relative simplicity of the process. Offshore company formation in many jurisdictions is a quick and seamless process and Sovereign aims to make your offshore incorporation as simple as possible. Additionally, ongoing requirements for offshore companies are often more relaxed than for “onshore” companies.
Confidentiality: Many offshore jurisdictions offer the complimentary benefit of secrecy legislation. These countries have enacted laws establishing strict corporate and banking confidentiality. If this confidentiality is breached, there are serious consequences for the offending party. An example of a breach of banking confidentiality is divulging customer identities; disclosing shareholders is a breach of corporate confidentiality in some jurisdictions
 
Which are the most popular offshore jurisdictions? British Virgin Islands (BVI), Ras Al Khaima (UAE), Hong Kong, Seychelles, and Cayman Islands. What makes the British Virgin Islands such prime location for offshore banking? British Virgin Islands (BVI) are a British dependency located in the Eastern Caribbean; the government is stable and promises to remain that way. There is a good commercial and professional infrastructure and the government is actively encouraging the development of the offshore finance business. BVI became the clear market leader for corporate services in the Caribbean after the introduction of the International Business Companies Act in 1984 which created the International Business Company (IBC). This IBC became the industry preferred offshore company.

BVI Company Characteristics - Shareholder: A minimum of one shareholder is required, any nationality.
- Directors: A minimum of one director is required, can be the shareholder.
- No Taxation
- No cash capital required
- No Physical Office required
- Incorporation time 48 hours
- Business activity can be one or more at the same time.
- Very useful tool to hold shares, open a bank account, set-up a representative office in Bahrain, own assists, property, yacht, piece of art etc.
- Total incorporation fees including first year government fees in around: BD700 with no hidden costs

Flying by the seat of your pants?

Not a good idea. Instead, call us.

Sovereign has expertise in the interactive and land-based gaming industry including casino, poker room and P2P operator licensing and extensive links with regulators in the most popular jurisdictions. So we can incorporate your gaming company and get it licensed for you in the fastest time and most efficient manner.

With over 20 years experience in offshore tax planning we can also give you and your partners and affiliates all the advice you will need to structure the company and your ownership of it in the most tax efficient way possible. Come and talk to us.

gaming@SovereignGroup.com
+852 2542 1177

Abu Dhabi to raise FDI to 23% of GDP by 2030

Abu Dhabi to raise FDI to 23% of GDP by 2030

Abu Dhabi economy in recent years has made major steps to diversify its economy away from oil revenues into petrochemicals, steel and aluminum. The multi-billion dirham projects are in line with Abu Dhabi's Economic Vision 2030 that aims for sustainable growth on a solid economic basis.

According to Abu Dhabi's Urban Planning Council some $200 billion (Dh734 billion) will have been pumped by 2013 into various infrastructure projects. The idea behind Abu Dhabi's economic diversification is that if oil prices go down, there will be other sources of income to compensate for the loss in oil revenue.

However, oil revenues are still an important source of revenue for the emirate, contributing 49 per cent to the GDP. Experts say that Abu Dhabi's economic growth momentum will gain traction in 2011 from surging international oil prices and fast-improving global business confidence which will help boost the emirate's non-oil income as well.

Abu Dhabi also has identified aviation and high-end business and leisure tourism as key elements in its economic growth strategy and is judiciously investing income from oil exports to become a major regional aviation hub.

If you are a potential investor, Abu Dhabi does offer lucrative investment opportunities. Many foreign and local investors are using offshore structures to ride the wave of Abu Dhabi’s Economic Vision 2030. Contact us if you already have investments in Abu Dhabi or planning to invest, we will assist you in protecting your investments through offshore structures.