Business entities in Gibraltar in 2022

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Healy Consultants will assist our Clients with Gibraltar business setup after determining the optimum corporate structure for our Client. There are several ways of doing business in Gibraltar, the most common being the setting up of an offshore company. Please find more information on different business entities available below:

The Gibraltar non-resident company (offshore company)

complete guides to Gibraltar business setup

  • The Gibraltar non-resident company is a limited liability company that requires only one shareholder and one director. The required minimum capital is £1;
  • This business entity is incorporated in Gibraltar with the Companies House Gibraltar but owned and managed by non-residents of Gibraltar whose meetings are also held outside of the territory of Gibraltar;
  • The non-resident company is not recognized as a taxpayer and enjoys tax-free status . Therefore, this is a simple and inexpensive offshore establishment available to Clients looking to incorporate a company in Europe;
  • In order to retain its non-resident status for tax purposes, the non-resident company may not trade within or remit income into Gibraltar.

The Gibraltar limited liability company (LLC)

  • A Gibraltar LLC requires only 1 director and 1 shareholder of any nationality. The minimum paid-up capital required is £100;
  • If the company is making more than £500,000 sales per year, it Is then mandatory to appoint an auditor resident in Gibraltar who is registered with the Financial Services Commission . The company must submit annual audited financial statements.

The Gibraltar public limited company (PLC)

  • Clients interested in Gibraltar company setup can alternatively, also register a PLC. A Gibraltar PLC is required to appoint a minimum of two directors and seven shareholders of any nationality. The minimum paid-up capital required is £20,500 and a company secretary must also be appointed;
  • It is not mandatory for a Gibraltar PLC to appoint a resident director. However, similar to the LLC, the Gibraltar PLC must also appoint a statutory auditor residing in Gibraltar, to be responsible for filing audited financial statements annually.

The Gibraltar branch of a foreign company (International business branch)

  • Foreign companies can also setup a branch office in Gibraltar;
  • The branch is required to appoint at least one corporate agent who should be resident in Gibraltar authorized to accept service of any notice on behalf of the company;
  • The branch is treated as a separate legal entity and is subject to the standard corporate tax of 10% on income sourced within the territory of Gibraltar. However, there is no branch remittance tax.

Table of comparison between Gibraltar entities

  LLC PLC Non-Resident Branch office
Also known as LLC PLC Offshore company International business branch
How long to set the company up? 1 week 2 weeks 2 weeks 2 weeks
How long to open company bank account? 3 weeks 3 weeks 3 weeks 3 weeks
Legal liability? Limited Limited Limited Unlimited
Wholly foreign owned? Yes Yes Yes Yes
Minimum paid - up share capital? £100 £20,500 £1 £1
File annual tax return? Yes Yes Yes Yes
Tax registration certificate required? Yes Yes Yes Yes
Recommended corporate bank account? EFG Bank Credit Suisse Lloyds TSB RBS
Does our Client need to travel? No No No No
Resident director required? No No No No
Resident shareholder required? No No No No
Minimum directors allowed? 1 2 1 1
Minimum shareholders? 1 7 1 1
Tax identification code needed? Yes Yes No Yes
Company secretary required? Yes Yes Yes No
Corporate agent required? No No No Yes
Corporate shareholders allowed? Yes Yes Yes Yes
Corporate director(s) allowed? Yes Yes Yes No
Statutory audit required? No Yes No No
Gibraltar corporate tax rate? 10% 10% 0% 10%
Annual financial statements required? Yes Yes Yes No
Regulated by? Companies House of Gibraltar Companies House of Gibraltar Companies House of Gibraltar Companies House of Gibraltar
Allowed to issue sales invoices? Yes Yes No Yes
Allowed to sign contracts? Yes Yes No Yes
Allowed to import and export goods? Yes Yes No Yes
Can rent an office space in Gibraltar? Yes Yes Yes Yes
Can buy Gibraltar property? Yes Yes No Yes
Total Gibraltar business setup costs in yr. 1? £10,500 £12,500 £10,500 £12,300
Subsequent annual costs (incl. accounting and tax fee)? £4,600 £4,600 £4,600 £5,900
Sample engagement invoice? View invoice PDF View invoice PDF View invoice PDF View invoice PDF

Contact us

For additional information on our business setup services in Gibraltar, please contact our in-house country expert, Ms. Lim Zhi Qing, directly:
Consultant at HC - zhiqing