Sovereign Corporate Services was one of the long-standing business associates of the Jebel Ali Free Zone (Jafza) that were recognised for their contributions towards the Free Zone’s growth at a specially hosted meeting of Jafza associates from around the world.
Sovereign was honoured at the Multaqa Jafza Awards on 9 May, which is an annual meeting to recognise the contribution of partners and update them on key developments within the Free Zone and new additions to services and products available to investors through Jafza.
The keynote address was delivered by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation, who said: “Jafza works with its partners to attract businesses looking to set up their regional base of operations in the UAE. By providing everything that a business needs in line with international standards, the Free Zone attracted 470 new companies last year. Despite the challenges facing the global economy, this translates to a combined annual growth rate of 7% over the five years leading up to 2016.”
Simon Gordon, Head of Sales & Strategy at Sovereign Corporate Services, said: “Sovereign Dubai is one of the oldest registered agents with Jafza, and we have a dedicated corporate services department who are there to assist with all company formation enquiries. Jafza continues to reinvent itself to cater for a consistently changing business environment and has revamped its rules and regulations in line with international standards to attract more foreign investments to Dubai.”
A panel discussion entitled “Building Better Business Together” featured Samer Qudah, Partner and Head of Corporate Structuring at Al Tamimi & Company, and Tahir Mahmood, Head of Business Development at Nasdaq Dubai. The panel discussion was moderated by Steven Henderson, partner at Baker & McKenzie Habib Al Mulla.
About Sovereign Corporate Services LLC (SCS)
Sovereign Corporate Services (SCS) equips its clients with the knowledge and understanding that is essential to successful market entry and growth initiatives in the UAE and Middle East region. We also provide the legal structures and administrative support to maximise your opportunities and achieve long-term sustainability, from the provision of full back-office services to assistance with tax and regulatory compliance.
The companies, funds and trusts we establish are used for many purposes – active trading, licensing and royalty arrangements, or to hold investments, intellectual property, real estate, ships and aircraft. Sovereign also provides specialist expertise in the ongoing management and administration of the structures we provide.
SCS has been a registered agent for the free zones of the United Arab Emirates, including Jebel Ali (Jafza) and Ras Al Khaimah (RAK) since 1998. SCS has also entered into a strategic partnership with the Government of Dubai through the Foreign Direct Investment Office (FDI), a division of the Department of Economic Development (DED). SCS has further expanded its presence in the Gulf States by opening an office in Bahrain.
About Jebel Ali Free Zone (Jafza)
Jebel Ali Free Zone (Jafza) is one of the world’s leading free trade zones. A DP World-owned company, the free zone was created in 1985 to promote trade and support container throughput at the Jebel Ali Port. Today it is one of the largest free zones globally and the region’s most efficient logistics hub. Located in Dubai, between the world’s most productive container terminal, Jebel Ali Port, and Al Maktoum International Airport, Jafza provides the best in multi-modal connectivity.
Jafza accounts for almost 32% of total FDI (Foreign Direct Investment) flow into the country. The free zone contributes 21% of Dubai’s GDP on a yearly basis and it sustains the employment of more than 144,000 people in the United Arab Emirates. In 2015, Jafza generated trade worth USD 87.6 billion.
As the leading business hub between Asia, Europe and Africa, the fastest growing producing and consumer markets globally, with over 30 years’ experience, Jafza focuses on long-term customer relationships. Jafza builds alliances with global investors by providing them with world-class infrastructure and support, plus quality-driven value-added services and incentives. Jafza enables its customers to access huge business opportunities in the region with ease and efficiency.