|Gibraltar Company Formation, Company Formation, offshore company formation, offshore company, limited company|
Offshore Company Formation: Company Formation Gibraltar
Company Formation Gibraltar: Constitution – Statutory Requirements
With regards to the Gibraltar Limited Company, the basic requirements are similar to that of a UK company:
The Key Benefits of Gibraltar
No Capital Gains Tax
With no Capital Gains Tax in Gibraltar, buying and selling any property (investments, shares, real property) at a profit has no adverse Consequences. Gibraltar offers considerable opportunity to venture capitalists and entrepreneurs planning to set up, or grow businesses for a gain.
Gibraltar’s exemption from EU harmonisation taxes, specifically VAT, gives companies trading from Gibraltar an important competitive edge being able to pass on savings to customers of between 15-20%.
No Inheritance Tax
With no inheritance tax or estate duty, Gibraltar is an excellent jurisdiction for estate planning and controlling family wealth.
Low Corporation Tax
The standard rate of corporation tax is 10%. However, only income accrued or derived in Gibraltar is taxable in Gibraltar. Consequently, a company that accrues its income overseas will not be taxed on that income in Gibraltar.
Low Personal Income Tax
There are two distinct systems that the tax payer can elect to come under;
In essence, all taxpayers will pay an effective rate of tax of less than 25% and the Government of Gibraltar is committed to reduce this amount further.
High Net Worth Individuals Tax Status
Individuals, who are able to meet the criteria, can enjoy a low rate of income tax. Only the first £80,000 of assessable income is taxable, which means a maximum amount of tax payable annually of £30,000 (minimum amount set at £ 22,000). This special tax status has proved to be a very powerful tax planning tool for high net worth individuals.
Passporting Of Services
Gibraltar companies that are authorised by the Financial Services Commission (FSC) have the right to passport their banking, investments and insurance services throughout the EU and EEA.; as such, there are no further regulatory requirements within the economic area.
Stable Government & Economy
Gibraltar is an autonomous self-sufficient territory that has been British since 1704. In 2001, 99% of the electorate voted in favour of retaining our modern, non-colonial relationship with the UK. Today Gibraltar enjoys a vibrant, modern, democracy whose security is guaranteed by our Constitution.
Member of the European Union
Being part of the European Economic Community since 1973 and thereafter becoming integrated within the European Union in 1993, Gibraltar is subject to European Law and all corresponding Directives apply. Whilst opting out of harmonisation taxes such as VAT, Gibraltar is to passport Insurance, Banking and other financial services into the EU.
Gibraltar is a British EU finance Centre of excellent standing with the Financial Services Commission having an enviable reputation as the financial services regulatory body. Regularly audited and recognised by international bodies such as the IMF, OECD and FATF, Gibraltar is considered a low tax onshore territory and is on the OECD white list of jurisdictions.