Gibraltar, an advantageous jurisdiction to register your business company
Gibraltar maintains a status as a safe and stable global financial centre. It enjoys easy access to the EU, UK and other international markets. Gibraltar is an excellent jurisdiction for company incorporations!
Why set up a company in Gibraltar?
Gibraltar’s diversified and stable economy continues to be strong in the principal sectors of yachting, financial services, tourism, E-gaming, DLT, and ship refueling. It has developed a good international reputation by being listed as a “white” territory by the OECD since 2009, removing any “tax haven” suggestions.
Gibraltar’s fiduciary companies deliver and manage simple and complex corporate structures, on a daily basis in virtually any jurisdiction. There is no capital gains tax, wealth tax or estate duty in Gibraltar. There is also no Value Added Tax (VAT). Therefore, VAT is not an issue from a Gibraltar tax perspective. Gibraltar companies conducting profit-making activity outside of Gibraltar will also not suffer tax on profits.
In terms of its political structure, Gibraltar is a British Dependent Territory and is a Crown Colony with internal self-government based on a Constitution of 1969. It has its own elected House of Assembly, which legislates on domestic matters. The United Kingdom is responsible for defense, foreign affairs, financial stability and internal security. Gibraltar became part of the European Community in 1973 and enjoys special status within the Community and is exempted from the Common Customs Tariff, the Common Agricultural Policy and Value-Added Taxation.
Advantages of Gibraltar
Gibraltar non-resident company is not taxable in Gibraltar. It is a company, which is incorporated in Gibraltar, owned by non-residents and controlled by directors who reside and hold board meetings outside Gibraltar. Non-resident company is another offshore business form which escapes taxation on foreign income.
Together with the highly reputable British Isles of Jersey, Guernsey and the Isle of Man, the crown colony of Gibraltar belongs to High Disclosure Offshore Centres which provide for greater legal certainty. It is the only British offshore centre that is part of the European Union. It is the only British offshore centre that can and will increasingly be able to provide financial institutions with passporting rights and access to the single European market for financial services.
What makes Gibraltar attractive to conduct offshore business:
- Good geographical location and bilingual (English and Spanish) territory.
- Cost effectiveness and attractive fiscal regime for offshore investors.
- Excellent reputation, stable government and special status within the European Union.
- Excellent infrastructure and communications.
- Favorable tax status for offshore banks.
- No exchange controls.
Procedures to incorporate
Strategically important, Gibraltar is a full member of the European Union but considered an offshore jurisdiction because it is a dependent territory of the United Kingdom. It does not participate in the common tariff and agricultural policy and does not levy Value Added Tax (VAT). The European Court of First instance recognised Gibraltar’s right to regulate its own tax regime in December 2008, which has further emphasised the attractiveness of Gibraltar as an excellent offshore jurisdiction.
Gibraltar corporate taxation
Main features of a Gibraltar company
Most relevant features of Gibraltar limited companies:
- No tax on profit generated from activities outside Gibraltar.
- Only one director required.
- Only one shareholder required.
- Shareholders can be persons or corporations.
- No nationality or residency restrictions.
- No need to visit Gibraltar.
Local registered agent
Gibraltar company documents
- No tax on profit generated from activities outside Gibraltar
- Certificate of Incorporation
- Memorandum and Articles of Association
- Minutes of First Board Meeting
- Register of Directors
- Register of Shareholders
- Share Certificate for each Shareholder
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Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.