The Sovereign Group has completed two further acquisitions that will serve to consolidate its existing position and strengthen its market share in Portugal and Gibraltar respectively.
In Portugal, Sovereign has acquired the business of Klisiaris & Klissiaris Lda., trading as Tax Solutions (http://www.algarve-taxsolutions.com). The firm operates in the same sector as Sovereign’s existing Portugal business (Sovereign – Consultoria Lda) and is to relocate, together with two employees, to our office in Lagoa in the Algarve region. The firm has been owned and run by Georgete Klissiaris, who will stay on as a consultant for approximately four months. In time, we will amend the company name to K & K Lda., and the business will continue to operate under that name.
Sovereign – Consultoria Lda was established in 1999 specifically to meet the growing demand for fiscal assistance from foreign investors, residents and retirees. As well as assisting and guiding clients through the complex application processes for Portugal’s popular Non-habitual resident (NHR), ‘Golden Visa’ and D7 Visa schemes, Sovereign provides continued support to corporate and individual clients that require ongoing fiscal representation and accounting services for the letting of their Portuguese properties and submission of income tax returns.
In Gibraltar, Sovereign has acquired the business of First Rock Trustees Ltd., which is a licensed company and trust manager. First Rock Trustees was founded 30 years ago with an emphasis on private client work. First Rock will continue to trade under its own name and its client portfolio will continue to be managed by Emma Cooper.
Founded in 1987, Sovereign now employs over 100 staff in Gibraltar and is one of the most significant private sector employers on the Rock. Authorised and licensed as a Professional Trustee, Company Manager and Pension Operator, it serves to organise, create and maintain structures, incorporating trusts, companies, personal and corporate pensions in Gibraltar or any other jurisdiction worldwide, for our clients and their advisors.
It also provides the necessary expertise in administering and managing companies, including company secretarial services, company law, board procedures, director responsibilities and shareholder relations, and financial and corporate compliance requirements.
Gerry Kelly, chief executive officer of the Sovereign Group, said: “We continue to seek out opportunities for acquisition, be it shares in a company or a book of business. Not all enquiries will go through once we look at due diligence, so we need a decent portfolio. We are currently looking at acquisition opportunities in many of the jurisdictions in which we operate.”
