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Gibraltar is a British Overseas Territory and headland, on Spain's south coast and overlooking the strait to Africa. It’s dominated by the Rock of Gibraltar, a 426m-high limestone ridge.
Here, the sub -tropical climate is warm and welcoming throughout the year. There are on average 300 days of sunshine per annum.
It has an area of 6.7 km2 and is bordered to the north by Spain.
Gibraltar has know a very stable jurisdiction with an excellent reputation.
The landscape is dominated by the Rock of Gibraltar at the foot of which is a densely populated city area, home to over 30,000 people, primarily Gibraltarians.
The Gibraltar official language is English and Spanish is diversely used.
Gibraltar is a British overseas territory. The British Nationality Act 1981 granted Gibraltarians full British citizenship. Under its current Constitution, Gibraltar has almost complete internal democratic self-government through an elected parliament.
The head of state is Queen Elizabeth II, who is represented by the Governor of Gibraltar. The Governor enacts day-to-day matters on the advice of the Gibraltar Parliament, but is responsible to the British Government in respect of defence, foreign policy, internal security and general good governance.
Gibraltar is part of the European Union, having joined through the European Communities Act 1972 (UK), as a dependent territory of the United Kingdom under what was then article 227(4) of the Treaty Establishing the European Community covering special member state territories, with exemption from some areas such as the European Union Customs Union, Common Agricultural Policy and the Schengen Area. It is the only British Overseas Territory which is part of the European Union.
Gibraltar has an attractive tax, regulatory and legal regime within the European Union which combined with its position as a leading European Finance Centre and Mediterranean lifestyle culminates in Gibraltar being regarded as an ideal location for international business.
The official currency is sterling (GBP) and there are no exchange controls.
Today Gibraltar's economy is based largely on tourism, online gambling, financial services, and cargo ship refuelling services.
Gibraltar has an attractive tax, regulatory and legal regime within the European Union which combined with its position as a leading European Finance Centre and Mediterranean lifestyle culminates in Gibraltar being regarded as an ideal location for international business.
The Financial Services Commission Act 1989 established the Financial Services Commission (FSC) as part of the system set up to supervise and control financial service providers in Gibraltar. The FSC is the central supervisory body for all of Gibraltar’s financial services including banking and insurance.
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Type of Company/Corporation: To Incorporate a company in Gibraltar company law must be followed through the legislation The Gibraltar Companies Act 2014.
We are provide a Incorporation Services for many Gibraltar companies with the type of Private Limited Company (Ltd).
Gibraltar Private Companies cannot trade within Gibraltar or remit income to Gibraltar if the Company is to retain its Non-Resident status for tax purposes. A Non-Resident company cannot undertake the business of banking, deposit taking, insurance, assurance, reinsurance, fund management, asset management, or any other activity associated with the finance industry.
The list of such business activities that both FAC and FAT consider as unacceptable and therefore shall not entertain are:
Company Name Restriction: Gibraltar company name can be in any language, as long as the relevant translation is approved first.
(1) No company shall be registered by a name:
(2) Except with the consent of the Minister no company shall be registered by a name which contains the words “Royal” or “Imperial” or “Empire” or “Windsor” or “Crown” or “Municipal” or “Chartered”or “co-operative” or in the opinion of the Registrar suggests, the patronage of Her Majesty
Company Information privacy: Company details can be disclosed even if the company is limited by shares. The names of company officers appear on public record. Nominee officers can be used to avoid the client's name appearing.
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The standard share capital is GBP 2,000. There is no minimum share capital, and the authorised share capital may be expressed in any currency.
Authorised nominal share capital. Gibraltar companies will not be designed to accommodate bearer shares.
Only one director of any nationality is required for your Gibraltar company.
A minimum of one shareholder of any nationality is required. The shareholder can be an individual or a corporation.
The information of beneficial owner have been supplied to the Companies House.
If no profit is accrued or derived from Gibraltar, the tax rate is 0%. If any profit, however, is accrued or derived from Gibraltar, the tax rate is 10%.
All companies incorporated in Gibraltar are required to produce and file certain accounting information at Companies House whether they have an activity or not.
The annual return is a statutory form companies registered in Gibraltar need to file with Companies House, it is a requirement under the Gibraltar Companies Act.
Local Agent: All Gibraltar companies must appoint a Company Secretary, who may be an individual or corporate body.
Double Taxation Agreements: There are no double tax agreements between Gibraltar and any other country. However, a Gibraltar resident who is in receipt of income which is liable to tax in Gibraltar that is derived from and has already suffered tax in any other jurisdiction, shall be entitled to double taxation relief in Gibraltar in respect of that income of an amount equal to the tax already deducted or the Gibraltar tax, whichever is less.
All companies incorporated in Gibraltar must have a Tax Identification Number, whether Resident or non-Resident, Trading or Dormant.
Without a TIN, accounts cannot be filed, and therefore the company will incur significant penalties, and the company will not be in good standing.
Companies House is also the Registrar in Gibraltar of business license in the following:
Once the company has been incorporated, it has up to 18 months to choose a Financial Year end (taxation period). After the end of the Financial Year End, the company has 13 months to file the accounts every year. Should this not occur, an initial £50 penalty will be issued and six months thereafter a further penalty of £100 will be incurred against the company should the entity have not complied with regulations. Company accounts need to be filed up-to-date for all companies, should they have any activity or not.