Gibraltar
NEWS
FACT FILE
Location Peninsula at southern tip of Spain, Self-Governing British Overseas Territory; part of EU.
Time Zone Greenwich Mean Time +1.
Population 29,000.
Capital Gibraltar.
Airport Gibraltar, Malaga and Jerez within 1.5 hours.
Language Business language - English. Social language English or Spanish.
Currency Pound sterling; Local notes also in issue; Euros widely accepted.
Dialing Code +350.
Centre's Expertise Internet gaming centre, trusts, insurance, captives, protected cell companies, funds, wealth management, yacht and vessel registration, radio licensing, fiduciary services (trust and company management).
Political System Parliamentary democracy.
Legal System Common law based on English law with local variations.
Personal Income Tax All individual taxpayers will pay an effective rate of less than 25%. Marginal tax rates then start to decrease when income exceeds £105,000 per annum, with any annual income over £1m being charged at 5%. There are beneficial regimes also available for high net worth individuals and high executives
Corporate Income Tax 10% - but only where income is accrued in or derived from Gibraltar.
Exchange Restrictions None.
Tax Treaties For full details, please go to www.ifcreview.com/TIEA
Permitted Currencies All major currencies.
Minimum Authorised Capital No minimum specified.
Minimum Share Issues One.
Shelf Companies Available.
Incorporation Time Scale Approximately 3 days, can be accelerated to 1 day on an urgent basis.
Incorporation Fees £380 to £635 approximately (by company managers).
Annual Fees Basic maintenance cost £445 to £750 approximately, but depends on the need of the client.
Minimum Number Private company: one; Public company: seven.
Residency Requirements None.
Corporate Directors Yes.
Meetings/Frequency There is no requirement as to frequency of directors meetings.
Disclosure Yes.
Bearer Shares No.
Minimum Number One.
Public Share Registry Yes, Companies house.
Meetings Frequency There is no requirement as to frequency of members meetings.
Annual Return Yes.
Audit Requirements Companies are classified as small, medium-sized or large. Documents to be field at the Comanies Registry vary according to their classifications; Large companies - to file full accounts including the balance sheet, profit and loss account, notes, directors' report and auditors' report. Medium-sized companies - filing as for large companies except that the profit and loss account may be in abridged
Registered Office Required.
Domicile Issues Re-domiciliation in or out available in appropriate cases.
Company Naming Restrictions Yes (eg, Royal or Bank).
ARTICLES
As the Blockchain Revolution Moves Offshore, What are the Challenges?
  As the Cayman Islands, Bermuda, the BVI and other offshore jurisdictions position themselves as FinTech hubs, there are certain regulatory risks and challenges that each jurisdiction must overcome in this new blockchain era. (01/09/2018)
Offshore: The Leaders, the Trends and the Opportunities
  Dan Wise looks at why certain IFCs prosper. He discusses regulation and investment opportunities, and opines on the implementation of public registers of beneficial ownership in the British Overseas Territories. (01/09/2018)
IFCs, ICOs and Blockchain: Time to Pay Attention
  IFCs are, to put it mildly, ‘at odds’ when it comes to cryptocurrencies. (31/07/2018)
Could Brexit boost Gibraltar’s fund industry?
  Jon Tricker, Managing Director of KPMG Gibraltar, looks at the potential for Gibraltar’s fund industry in a changing European landscape (02/10/2017)
QNUPS: Enhancing Retirement Benefits
  The Qualifying Non-UK Pension Scheme (QNUPS) regime is attracting a significant amount of interest from both UK residents and expatriates who are seeking pension benefits beyond the confines of the UK pension regime. (25/08/2017)
An Old Foe Returns
  Marcus Killick examines how the current onslaught of regulation is affecting IFCs and considers their future role in the financial world. (01/04/2016)
Gibraltar: Rising Above Regulatory Clouds
  Michael Castiel examines how despite recent regulatory challenges Gibraltar continues to punch above its weight with its financial services offerings. (01/06/2015)
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FURTHER BACKGROUND INFORMATION
  Gibraltar Tax Treaties
  Gibraltar currently has 26 tax information exchange agreements in place. - read more...
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