Gibraltar | Interstatus - Group of Companies Gibraltar – Interstatus – Group of Companies

General jurisdiction information:

Gibraltar is an overseas UK territory situated on the southern coast of the Iberian Peninsular on the Strait of Gibraltar connecting the Mediterranean with the Atlantic Ocean. It is separated from Spain by a neutral area.

According to 2015 figures, the population is 29,800 and the capital city is Gibraltar (which is also a port).

Gibraltar is a European Union member by proxy through the UK but it enjoys a separate jurisdiction and tax system. Because of its special status it is released from any customs duties or general agricultural regulations. It is not part of the Schengen Area but has signed the Hague Convention.

The major contributors to the Gibraltar economy are services, finance, tourism and shipping sectors.

The official language is English with Spanish widely spoken.

The official currency is the Gibraltar Pound (GI£) with its rate of exchange linked to British Sterling.

The incorporation and operation of commercial companies is governed by the Companies Law of 1984, as amended.

Because of enhancements to its tax laws, nowadays Gibraltar is more a low tax than an offshore jurisdiction.

The jurisdiction offers incorporation of various legal corporate forms, but for practical considerations the most in-demand companies among foreign investors are non-resident carrying out business outside of Gibraltar and having no property within the territory. Such companies are widely used in international trade, the provision of services, investments, administration and ship management. Non-resident companies are exempt from tax on profit generated outside of the jurisdiction.

Incorporation of an on-shore company is especially attractive for tax optimisation as the effective corporate tax rate is 10% with no VAT and social contributions are low.

Advantages of incorporation of Gibraltar companies:

  • There are advanced flexible laws within the liberal taxation system.
  • Beneficiary information is not accessible to the public.
  • Company incorporation is a fast procedure with no requirement for the physical presence of the beneficiary.
  • There are no minimum or maximum share capital requirements and the capital may be denominated in any currency.
  • Companies may be set up with just one shareholder who can be either a natural person or a corporation and can be resident in any country.
  • The use of nominees in the company structure (director and shareholder) is allowed.
  • There are no exchange controls.
  • Company administration is simple with the minimum of staff.
  • Non-resident companies that do not engage in any business within Gibraltar are tax exempt.
  • The jurisdiction does not impose VAT and there is no duty on most goods.
  • Meetings of the shareholders may be held in any part of the world.
  • Re-domiciliation from other jurisdictions is available.
  • The jurisdiction enjoys political and economic stability.

The Gibraltar company incorporation process:

Non-resident company:

Director:

A minimum of one physical or corporate person is required and no residency qualifications apply. The director and the shareholder may be the same person.

We can offer the services of local (nominee) directors in full compliance with local legislation who can manage the company according to your instructions.

Shareholder:

A minimum of one shareholder is required who can be a natural person or a corporation and there are no residency qualification requirements. At the request of the beneficiary we can provide nominee shareholders.

Secretary:

A secretary is mandatory (a Gibraltar resident) who could be a private individual or a corporation.

We can provide secretarial services if needed. Please contact our representative for detailed information on virtual office services.

Registered office:

Companies incorporated in Gibraltar are required by Law to have a registered office.

Share capital:

There are no requirements for minimum or maximum share capital or its payment.

Generally share capital is £2,000 divided into shares with a £1 par value.

Shares may be issued without par value. Registered and bearer shares may be issued but bearer shares must be deposited at the place of incorporation of the company.

Registration period:

15-20 days but delivery of the full set of documents may take additional time. Shelf companies are available.

Accounting and auditing:

The Law governing accounting and its applicable forms and regulations provides that Gibraltar incorporated companies must maintain accounting and prepare and submit annual reports to the Company Registrar providing information on the directors, shareholders, capital and liabilities. Audited financial statements must be submitted within 13 months after the end of the reporting period.

Auditing is not mandatory for small companies. To qualify for this category the company has to meet at least two of the following criteria:

  • a maximum annual turnover of £4,800,000;
  • a total maximum balance sheet of £2,400,000;
  • the maximum number of employees is 50.

Small companies can prepare financial statements in a simplified form.

Penalties are imposed in the case of late submission of any reports.

Information in the registers:

Information on the directors and shareholders must be submitted to the Registrar and is accessible to the open public so it is strongly recommended that you use nominees.

Disclosure of information on the beneficiary is permitted subject to a court order only.

Gibraltar taxation provisions:

According to the legislative regulations passed on 1st January 2011, most Gibraltar companies are taxed on profits at the rate of 10% except for companies operating in the electricity, telecommunications, oil, energy and utilities sectors who are taxed at the rate of 20%. However, the same Law has preserved the regulations that make companies generating their entire income from sources outside of Gibraltar tax exempt. Such companies are not permitted to have staff in Gibraltar, their bank accounts must be with foreign banks and their shareholders and directors cannot be residents of Gibraltar.

The main criteria for taxation in Gibraltar is the place of actual management of the business of the company.

The income of non-resident companies with income from sources outside of Gibraltar is tax exempt:

  • tax on profit, dividends, interest and royalties – 0%;
  • capital gains tax – 0%;
  • tax withholdings at source – 0%;
  • VAT – 0%;
  • wealth and inheritance tax – 0%.

In the place of taxes, non-resident Gibraltar companies pay a government levy of £200.

A special duty of 0.5% of the authorised capital is payable upon registration.

Double Tax Treaties:

Gibraltar does not maintain any Double Tax Treaties.

For detailed information on incorporation and administration of Gibraltar companies please contact our office. 

1st year

BASIC
2600
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
STANDARD
3600
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
PREMIUM
4000
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
  • Cyprus Bank Account Opening

2nd year

BASIC
2500
  • Registered Office Fees
  • Registered Agents Fees
  • Administrative and Compliance Fees
STANDARD/PREMIUM
3525
  • Registered Office Fees
  • Registered Agents Fees
  • Administrative and Compliance Fees
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder

* Please contact us for a detailed price list and additional information.