Gibraltar is a British Overseas Territory and OECD has not considered Gibraltar companies as offshore entities since 2011, when a 10% tax was imposed on corporations operating in Gibraltar.
All companies, however owned, are taxed on profits accrued in or derived from Gibraltar, thereby preserving the territorial basis of taxation. The activities of companies licensed and regulated under Gibraltar law are deemed to take place in Gibraltar, except for any income from the activities of a branch or permanent establishment outside Gibraltar. In addition to a favorable fiscal environment, Gibraltar offers a high-quality legal and regulatory infrastructure underpinned by a stable government and the availability of a well-qualified labor force.
Key Benefits of Registering a Company in Gibraltar
- Low taxation
- Corporation tax – Companies with income taxable in Gibraltar are taxed on an actual basis, i.e. the period of tax assessment is the same as the financial year of the company. The standard rate of corporation tax is 10% (20% in the case of utility, telecom and petroleum companies and companies which abuse a dominant market position). Companies are taxed on profits accrued in or derived from Gibraltar (i.e., territorial basis of taxation). In case of companies licensed and regulated in Gibraltar, profits are deemed to accrue in and be derived from Gibraltar, except for profits from activities conducted outside Gibraltar by a branch or permanent establishment. No tax is payable on dividends paid between companies.
- Non-Gibraltar income – In the case of companies, income that is not accrued in or derived from Gibraltar is not subject to tax. Upon distribution to individuals or to trusts, only such shareholders who are resident would be liable to tax in Gibraltar. Resident individuals, trusts and foundations are generally subject to tax on a worldwide basis.
- Withholding tax – There is no withholding tax on dividends, interest or royalties.
- Quick business registration for non-residents of Gibraltar. The process takes no longer than 1-2 weeks.
- Nominal service is allowed, but you will be required to provide adequate substantiation for doing so. There are good reasons for this, and our consultants will be happy to help you through this process.
- Confidentiality. Access to information about the beneficial owners of the company is kept with the registration authorities, and is not subject to disclosure, except for court decisions and specially formulated requests of law enforcement agencies.
For all third parties, the press and other stakeholders, access to information about the participants or owners of the company is restricted. This means that the privacy of the owners of a company registered in Gibraltar is protected at a high level.
- Developed trust legislation that protects beneficiaries of trust funds from information leakage and annual taxation.
- Ample opportunities to open a foreign account in banks and payment systems of Gibraltar and other European countries.This is due to the positive image of Gibraltar in Europe. Services offered include but are not limited to retail, private and corporate banking, loans, import finance and mortgages on real estate.
As a general information, there are four types of companies that can be incorporated in Gibraltar:
- A company limited by shares
- A company limited by guarantee and having a share capital
- A company limited by guarantee and not having a share capital
- An unlimited company with or without a share capital
A private company limited by shares needs to have only one subscriber, whereas a public company limited by shares must have at least seven. The distinction between public and private companies is much the same as in England, the latter being companies that by their memorandum or articles:
- Restrict the transfer of shares
- Prohibit any invitation of the public to subscribe for any shares or debentures of the company.
Types of business who are recommended to incorporate in Gibraltar
- Online casinos and all kinds of online games, especially those requiring licensing in European countries.
- Developers of mobile and browser applications of any type with a target audience concentrated in European countries.
- Creators of online content of any type sold through the online platform Apple Store and Google Play. These may include: authors of books, videos, music and other creative online products.
- All types of online marketing and advertising products development and dissemination. This especially refers to agencies operating internationally using the traffic and capabilities of Google Adwords and similar services.
- Companies associated with shipping and container shipping of goods from around the world, as well as large importers operating in the European part of Eurasia.
- All types of international trade in physical goods.
- Multiplication and storage of capital holding companies and wealthy individuals, as well as the transfer of fortunes by inheritance and other types of sales of such assets.
The Gibraltar economy is largely dependent on financial services, tourism and shipping. More recently, Gibraltar has attracted a large number of gaming companies, to the extent that this industry is now an important part of the Gibraltar economy. Gibraltar is established as a leading, reputable and well-regulated jurisdiction for online gaming activities. The industry has witnessed remarkable growth over the last 15 years or so, to the extent that it has now become a significant part of the Gibraltar economy. The Gibraltar Government is very selective in its criteria and only considers licensing blue chip entities with a proven track record in gaming. Licensees are required to physically operate and be managed in Gibraltar.
It is not recommended to open companies to young entrepreneurs without experience, as this fact is closely scrutinized by the registration authorities of Gibraltar and is not very welcome.
The cost of Gibraltar companies along with opening an account in the payment system
We propose registering a company in Gibraltar immediately followed by the opening of a foreign account in a foreign payment system. This is recommended as it can save you both time and money.
So, the cost of such a package is 6800 Euros.
The price includes:
- Creation of all necessary documents and verification of your documents as the founder of the company,
- A package of documents for company registration (Certificate of Registration, Charter, Registy of owners and other necessary documents),
- Documents for obtaining a tax identification number,
- Providing a legal address for a period of 1 year,
- Providing the services of a local company secretary for a period of 1 year,
- Opening an account in the payment system.
If you are engaged in online business with e- goods, or you are application developers or content creators for Google Play or the Apple Store , then at the first free consultation with our specialists, inform the “ Apple ” promotion code for which you will be given a discount of Euro 1000 from all package.
Please note however that the campaign may be applied with limitations.
The procedure for registering a company in Gibraltar and opening an account in a foreign payment system
- The following documents should be prepared :
- copies of foreign passports of owners and directors of the company, with notary validation;
- confirmation that you are the owner of real estate in your country. This may be an extract from the bank on the payment of utility bills, or receipts on payment no older than 3-6 months from the date of application
- a letter of recommendation from your bank or accounting company providing your services, if any
- An approximate description of the business that you plan to conduct through the registered company, indicating the planned turnover and income. 100 percent precision is not needed here: it is a mere disclosure of your business plans, to prove your intentions to establish a sustainable new business in Gibraltar.
- it will be necessary to provide evidence of the origin of the funds. This may be a tax return for the last 1-3 years, a business plan, constituent or investment memorandum. Contracts for the sale of movable and immovable property in your country over the past couple of years are also acceptable.
- Seek free advice on the package “Gibraltar Company with a foreign account” so that by joining efforts we estimate our cooperation opportunities. We will draw up the necessary documents and check copies of all your documents available.
- Pay for the package “Gibraltar Company with a foreign account”.
Payment can be made in the following ways:
- Bank transfer in EUR and USD,
- Mastercard and Visa in USD,
- Bitcoin with 5% commission on the order amount,
- Webmoney in USD with 5% commission on the amount,
- Western Union and MoneyGram in USD with 10% commission on the amount.
We will preliminary require information about the payer, payment currency and method of payment.
After all of the above formalities have been completed, we will then proceed with the registration of the company and opening of an account for you.
Usually these procedures take no more than 2-3 weeks after sending all the necessary documents.
All documents will be directed to the address that you specify.
More information about the business, taxes and life of this small Mediterranean city-state can be found in a separate section of our website: Gibraltar
You can send a request for consultation via our email: firstname.lastname@example.org
Since 2011, our company has been engaged in corporate construction and international banking consulting. You can read more about why it is worth working with our consultants in a separate article, “ Why Offshore Pro? ”