| GENERAL INFORMATION |
| |
| Location |
Iberian Peninsula |
| Population |
30,000 |
| Native language |
English/Spanish |
| Currency |
Gibraltar pound |
| Political status |
Multi-party democracy |
| Constitution & Political status/stability |
Overseas Territory of the United Kingdom within the EU, self-governing |
| Banking & professional facilities |
18 established European banks; UK trained lawyers and accountants |
| Legal system |
English common law supplemented by local legislation |
|
| TAX REGULATIONS |
| |
| Income tax |
|
 resident |
20-48% |
| non-resident |
20-48% on Gibraltar source income excluding bank interest |
| Trusts |
|
| resident |
20-48% |
| non-resident |
No |
| Corporate tax |
|
| resident |
35%; small companies 20% |
 non-resident |
No |
| exempt % |
Fee �225 annually;
qualifying companies 0-35% |
| Estate duty |
Abolished 1997 |
| Withholding taxes |
35% on dividends and on interest paid to companies; 30% on interest paid to individuals |
| Exchange controls |
|
| resident |
No |
| non-resident |
No |
|
| TRUSTS |
| |
| Are trusts permitted? |
Yes |
| Perpetuity period |
100 years |
| Accumulation period |
100 years |
| Statutory trust law |
English common law and Gibraltar ordinances |
| Trust duty |
No |
| Forced heirship exclusion |
Yes |
| Asset protection measures |
Yes |
| Trust register |
Voluntary (since January 2000) |
| Resident trustee/s required |
No |
| Regulation of trustees |
Yes; Gibraltar was one of the first jurisdictions to
regulate trust and company management services providers under the
Financial Services Ordinance 1989 |
| Type of corporate vehicles |
Non-resident company, exempt company, qualifying
company, 1992 holding company, company limited by shares, company
limited by guarantee having a share capital, company limited by
guarantee not having a share capital, unlimited company |
| Incorporation time scale |
3 to 5 days, under certain, conditions, 24 hours incorporation possible |
| Fees: Incorporation - Government |
�50 payable to Companies House, �100 for an urgent incorporation |
Annual -
Government |
tax �225, annual return �30; filing of accounts �10; filing of particulars of directors or secretaries �5 |
| Resident directors required |
No |
| Min number of directors required |
1 |
| Directors meetings required |
Yes |
| Other requirements |
Resident company secretary |
| Beneficial ownership disclosure |
Yes, in the case of tax exempt and qualifying companies |
| Shareholder disclosure |
Yes |
| Minimum number of shareholders |
1 |
| Bearer shares allowed |
Yes, conditional |
| No-par value shares allowed |
No |
| Public share register |
Yes |
| Shareholders meetings required |
Yes, can be waived |
| Frequency |
One every year |
| Place |
Worldwide |
| Annual return required |
Yes |
| Audit required |
Yes, but there are certain derogations for small and medium-sized companies |
| Foreign currency accounting allowed |
Yes |
| Registered office |
Yes |
| Registered agent |
No |
| Stamp/capital duty |
0.5% on share capital but not on share transfers (exempt and qualifying companies); non-resident trusts are exempt |
| Naming your company |
Sensitive words such as 'bank', 'insurance' etc. restricted to licence, no confusion with existing company allowed |
| Company mobility provisions/redomicility rules |
Redomiciliation to and from EU member states and some
others possible since March 1996; list of countries from which
companies can redomicile to Gibraltar was expanded with effect from 2000 |
