Gibraltar bitcoin solution in 2024

Since the global inception of cryptocurrency trading, Healy Consultants successfully assists our Clients structure their global bitcoin corporate structures in many bitcoin-friendly countries, including Gibraltar. If properly structured, companies registered in Gibraltar can operate easily in the lucrative bitcoin markets.

Press the link headings below for relevant, up to date information how to register a Bitcoin structure in Gibraltar:

  • Why register Bitcoin company in Gibraltar?

    • In 2018, Gibraltar will be one of the few jurisdictions that will introduce a fully regulated and comprehensive framework for businesses engaged in blockchain activities;
    • HM Government of Gibraltar has confirmed legislation to regulate Distributed Ledger Technology (DLT) related businesses;
    • This regulation will be effective from 1st of January 2018;
    • The regulatory framework is aimed to make Gibraltar as a reliable, safe and well-regulated place to do the business in the field and encourage cryptocurrency operations.
  • Additional advantages for a Bitcoin company in Gibraltar?

    • 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 12.5%;
    • Gibraltar’s common law system based on the English model makes the legal regime very accessible to foreign lawyers and businessmen;
    • Given the jurisdiction support towards DLT businesses, it is easy to open DLT friendly corporate bank accounts to support business registration in Gibraltar;
    • Gibraltar is the only European Union (EU) finance centre exempt from value added tax (VAT).
  • How to incorporate business in Gibraltar?

    Company incorporation process is straightforward and will include following steps:

    • Reserving the company name and office address and obtaining the initial registration approval from the Companies House of Gibraltar;
    • All registration documents e-signed via hello sign;
    • Memorandum and Articles of the company to be notarized with a public notary in Gibraltar;
    • Opening a capital bank account for the company and deposit the required initial capital into the corporate bank account and obtain a certificate of deposit;
    • Submitting documents and proceed to register the company with the Gibraltar Financial Services Commission (GFSC) to obtain license for DLT-based activities. This process involves 3 steps: i) initial application assessment, ii) full application and iii) presentation.

    Company incorporation up to 10 working days. However, DLT regulatory framework will involve a complex assessment process, therefore it is estimated that the turnaround for application to obtain DLT Provider license can reach up to 3 months.

  • Gibraltar corporate banking solution

    Gibraltar banking solution offers bitcoin friendly banks and welcomes DLT-based business profiles to open a bank account. Therefore, bringing following advantages to you:

    • Your Bitcoin company will be more attractive to Clients if payments are processed by a stable corporate bank account;
    • Your Bitcoin company will have smooth relationship with bank due to existence of regulatory framework;
    • Your bank accounts will be closer to your Clients, thus enabling your company to process transactions faster.
  • Government license fees

    • An initial application assessment fee of £2,000 will be payable to the GFSC on the submission of the relevant information specified by the GFSC;
    • The full application fee that will become payable and the subsequent annual fee will be dependent on the complexity and category assigned to the DLT Provider. There are three different categories as follows:
    DLT Provider Category Application Fee Balance payable on submitting full application Annual Fee
    Complexity Cat 1 £10,000 £8,000 £10,000
    Complexity Cat 2 £20,000 £18,000 £20,000
    Complexity Cat 3 £30,000 £28,000 £30,000
  • Supplementary Fees

    • The GFSC has the ability under the fees regulations to charge supplementary fees which may be used to cover the direct costs of the use of the Panel of Experts at authorisation stage;
    • This would be disclosed and agreed with the applicant at the initial application assessment stage. Application fees will be non-refundable;
    • Further fees will be charged based on the size and activity of the DLT provider. The further fees will be developed and set during the second half of 2018;
    • These further fees will be calculated retrospectively from previous year’s audited financial statements. Accordingly, further fees will not be payable until the second year of operation.

Contact us

For additional information on our company registration services in Gibraltar, please contact our in-house country expert, Ms. Yekaterina Li, directly:
Consultant at HC - katya