Financial Services

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A ‘family office’ can be comprised of a great many things but our experience has lead us to believe that they all require at least these three: (i) a solid structure, (ii) a clear purpose, and (iii) sound advice. At Sovereign we assist our clients in these respects and much, much more. 

Our team works with and advises single and multi-family offices on a wide variety of matters concerning their operation in The Bahamas and their ability to continue to invest in the global economy. We regularly work with advisors and external asset managers across jurisdictions to provide clients with the support, wealth management, and tax solutions that best fit their lifestyle and investment goals. Locally, we assist clients with everything from residential housing and office space to immigration and employment matters.

Our years of experience in the Banking and Financial Services industries has made us proficient and well equipped to advise clients in creating and managing a compendium of wealth management tools including: 

• Trusts
• Investment Funds 
• Private Trust Companies
• Purpose Trusts 
• Private Holding Companies

We also have a wealth of experience advising clients on the licensing and regulatory requirements related to investing in and from the Bahamas. This includes obtaining licenses and regulatory approval from the Securities Commission of The Bahamas and the Central Bank of The Bahamas. Our team is also certified to offer compliance and anti-money laundering services to family offices and service providers alike.

We regularly advise clients on the establishment and licensing of a variety of investment funds including:

• Professional Funds 
• SMART Funds 
• ICON (Investment Condominium) 

Our advice typically addresses the requirements to set up a fund, drafting of the memorandum and articles of association or other such constitutive documents and preparation of the offering documents and material contracts of the investment fund. We also assist our clients with management of the application process for swift approvals by the Regulator. Through our network of service partners we are also able to offer our clients licensed fund administration services. 

A private trust company (“PTC”) is typically set up for a family that wishes to establish a series of trusts and desires to maintain a level of control over the Trustee and administration of the Trusts. Our team are familiar and proficient in the creation and management of PTCs and we advise clients on their regulatory and operational requirements.

We advise private banks and independent trust companies on their licensing, regulation and compliance requirements. This includes liaising with the the Central Bank of the Bahamas, the regulator of Banks and Trusts in the Bahamas. 

Anyone wishing to carry on a securities business, including fund administration, in or from within The Bahamas must be licensed by the Securities Commission of The Bahamas. We advise securities businesses including broker dealers, investment advisors and managers and fund administrators on the regulatory and financial requirements for registration and licensing by the Securities Commission of The Bahamas. 

Our team is certified to provide compliance for a wide array of financial services products including family offices, investment funds, and financial service providers. Our experience administering products also gives us unique insight when advising on FATCA and CRS compliance. We are regularly consulted on matters relating to filing and classification under these reporting regimes.  

At Sovereign, we provide advice on all aspects of commercial and residential real estate transactions. We have represented both local and international clients in the acquisition and disposition of homes, office buildings and marina slips. Our team also has experience structuring and advising on commercial and development projects including residential, condominium, office and commercial developments.  

We have experience working across borders with advisors in multiple jurisdictions and advise our clients on conveyances, mortgages and real property tax matters. Our areas of expertise include:

• Mortgages
• Conveyances      
• Bahamas Investment Board Approvals (purchases/investments by foreign persons)
• Title Opinions & Quieting of Title Actions
• Real Property Tax Resolution

Contact Us below to enquire how we may be able to help you. 

Through our network of service partners we have built a team of local professionals to assist with the maintenance, security, and management of your commercial or residential property. Contact us to discuss how best we can assist you in maintaining and growing your property value. 

The Bahamas maintains one of the largest shipping registries in the world with over 1,700 vessels comprising approximately 50 million gross tonnage under registration. Our team assists shipping companies, operators, and owners navigate the structuring and regulatory requirements in all aspects of registering and operating their ships under the Bahamian flag. We work alongside the Bahamas Maritime Authority to manage the documentation process in order to bring efficient service and targeted results to our clients. Our range of services include (but are not limited to):

• Holding Company incorporation & regulation 
• Ship Registration – documentation preparation and application management 
• Ship Mortgages & Financing – including drafting & review of security documents 
• Sale & Purchase of Bahamian Flagged Ships

The Bahamas, building on the success of it’s large shipping registry, has committed to developing a yacht registry focused on pleasure and charter yachts. To that end, the Bahamas Yacht Code was developed and came into effect in November, 2011. Our team can assist yacht owners and charter operators navigate the application and documentation process and ensure compliance with regulation in this sector. 

As a constituent Member State of ICAO (International Civil Aviation Organization) The Bahamas maintains and ensures all aircraft licensed and registered in The Bahamas adhere to ICAO standards of operation and maintenance.  Our team at Sovereign presently advise personal, charter and commercial operators with their licensing and regulatory requirements as governed by the Civil Aviation Authority. 

Our team can also assist private and commercial operators with registration of their aircraft. As aircraft registered in The Bahamas must be owned by either a Bahamian citizen, permanent resident or Company, we can assist clients with the corporate structuring necessary in order to have their aircraft registered.