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Benefits of doing business in Gibraltar
Gibraltar’s economy has also proved to be strong during the Euro crisis demonstrating consistent growth in the Gross Domestic Product. If until now the small territory was perceived as an extension of the United Kingdom because of their resembling legislation, Gibraltar has recently amended its Companies Law which now offers many more benefits to foreign entrepreneurs coming here.
The small territory, which is often referred to as The Rock, provides numerous tax incentives for those opening a company in Gibraltar, but also for foreign citizens looking for employment. Gibraltar is one of the European territories with the most skilled and diversified workforces.
Gibraltar non-resident company full tax exempted
Forming a company in Gibraltar is relatively simple and has quite a few advantages compared to other EU jurisdictions. In Gibraltar there are two types of companies: resident and non-resident. Gibraltar resident companies, that is, companies physically trading within Gibraltar, are only obligated to pay 10% corporation tax on their profits. “Non-resident” companies (ie. companies registered in Gibraltar but physically trading outside of Gibraltar) pay 0% corporation tax on profits. For non-resident companies, only a small annual duty in lieu of tax and annual filing fees at Companies House is required. (Please note the company’s position as “non-resident” does not have an effect on one’s personal tax position; we recommend seeking professional tax advice.)
Gibraltar is outside of VAT zone
Further advantages to incorporate in Gibraltar
Furthermore, Gibraltar allows for nominee services. We offer full Nominee Director, Secretary and Trustee shareholders included in our package price, which allows the beneficial owner to run their company confidentially. Note that the owner would be the only signatory on the company bank account; the nominees have absolutely no access. As of 1st January 2016 Gibraltar companies require a Tax Information Number (TIN) – this is included in the package for a Gibraltar company and will be required to open a bank account.
Company registration in Gibraltar time frame
A Gibraltar company can be incorporated as quickly as the same day, providing all due diligence documents are received from the outset, and the expedite fee is paid. Standard incorporation takes 3-5 working days. Our low package price includes the registration of the company, all company documents, registered office address for 12 months, UK or Gibraltar address for mail correspondence if required, optional corporate nominee services for 12 months, and a bank introduction.