DOING BUSINESS IN GIBRALTAR IN 2018
For over a decade, Healy Consultants Group PLC has been efficiently and effectively assisting our Clients with i) Gibraltar business registration ii) business licensing iii) business banking solutions iv) visa options and staff recruitment strategies and v) workspace rental solutions.
Gibraltar is a British territory located at the southern tip of Spain, and is a strategically-located naval port. Gibraltar company registration is governed by the Companies Ordinance Act 1984 (based on the UK Companies Act 1929), and offers legitimate tax advantages to international business people if properly-structured.
Press the link headings below to read detailed, relevant, up to date information.
Advantages of Gibraltar company registration
- Gibraltar does not tax companies on their profit-making activities located outside of Gibraltar. For activities carried out within Gibraltar, the corporate tax rate is only 10%. Thus registering a company in Gibraltar can therefore prove to be a tax efficient option for many businesses;
- Unlike other British Overseas Territories and Crown Dependencies in Europe, Gibraltar is part of the EU. This gives it access to harmonized laws in the form of directives and regulations;
- Only 1 shareholder and 1 director are required to register a company in Gibraltar. The company can be registered in one week with a minimum paid up capital of €100;
- Gibraltar is the only European Union (EU) finance centre exempt from value added tax (VAT). As a member of the EU, Gibraltar has direct access to EU financial services markets through laws such as MiFID and AIFMD. In addition, British pensions held by expats anywhere in the world may be moved to Gibraltar-based schemes under the QROPS regime;
- Gibraltar’s common law system based on the English model makes the legal regime very accessible to foreign lawyers and businessmen;
- It is easy to open global corporate bank accounts to support business registration in Gibraltar. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services.
Disadvantages of Gibraltar company registration
- Following registration of a Gibraltar LLC, shareholders and directors’ details are available for public viewing at the official register at the Gibraltar Registrar of Companies;
- Despite being part of the EU, Gibraltar is not part of the EU’s customs area or VAT area. Consequently, using an Isle of Man company is better than using a Gibraltar company for companies selling goods to Europe;
- Despite its stringent compliance laws, Gibraltar may be perceived as an offshore tax-haven;
- All companies registered in Gibraltar are legally required to submit annual financial statements to the Gibraltar Income Tax Office within nine months after the end of their financial year. Companies with annual sales below £500,000 are however exempted from audit requirements.
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- Time to incorporate: One week
- Cost to set up: £9,500
- Minimum capital: £100
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: Yes
- Resident director: No
- Corporate tax rate: 10%
- Corporate tax base: Territorial
- Shelf companies: No
- Main company type: limited company
Useful links for Gibraltar
Government and public authority websites:
- Government of Gibraltar
- Welcome to Gibraltar
- Gibraltar Chamber of Commerce
- Gibraltar Federation of Small Businesses
- Gibraltar Airport
- Gibraltar Yellow Pages
- Gibraltar KPMG – Tax Card 2013/2014
- Gibraltar PWC – Gibraltar Tax Facts 2013/2014
- Financial Services Regulations
- Trade and E-Trade in Gibraltar
- KPMG; Thinking Beyong Borders – Gibraltar
- Doing Business and Investing in Gibraltar
- Companies Re-Domiciliation Regulations
- Gibraltar Companies Act