Gibraltar has a special status as it is a British territory and part of the European Union at the same time, providing many investment opportunities for foreign enterprisers seeking to access the European market. Gibraltar has a good geographical position, excellent infrastructure and communication systems and a stable political environment. The favorable tax status for financial services providers is also among the most attractive ones for foreign investors. Foreign businessmen may register the following types of companies in Gibraltar:
Our company registration consultants in Gibraltar can offer more information about the types of companies available for incorporation in this country.
The Gibraltar Companies Act is based on the English laws and it has also been amended in order to comply with EU regulations. Before registering a company in Gibraltar, one must submit the company name to receive approval from the Companies Houses in the Rock. Other requirements for company incorporation in Gibraltar are:
Foreign companies are also allowed to establish branch offices or subsidiaries in Gibraltar.
Unlike other EU jurisdictions, Gibraltar companies are not required to have resident directors or secretary.
The registration of a Gibraltar company usually takes about three to five days, but provided a fee is paid the registration procedure can take only 24 hours.
Our experts invite you to watch a comprehensive video about the company registration process in Gibraltar:
Before starting the company registration process, the owner must have the documents of incorporation drafted and notarized. These documents are the Memorandum and Articles of Association, however the new Companies Law enabled in 2014 allows for prescribed Articles of Association which must be filled in and filed with the Trade Register together with information on the shareholders, managers or directors and the secretary. After the documents have been filed, the company will receive its certificate of incorporation in a matter of days.
After the Gibraltar company is registered it must also apply for one of a business or a manufacturing license. It is important to know that the business or the trade license covers most types of activities. However, there are also special licenses which must be obtained for transportation companies or restaurants in Gibraltar. Our company registration consultants in Gibraltar can offer more information on the special licenses available for businesses.
Once the company has been registered, it will be required to register in order to receive a tax number. Also, the managers of the company must submit the audited accounts with the Companies Register within 13 months from the financial year end. Companies with revenue below 4.8 million GBP per year are not required to file audited financial statements. Nominee shareholders and directors are allowed in Gibraltar.
Companies registered in Gibraltar are subject to the Income Tax Act. The taxes a company will pay are limited to the income generated in the country. One of the reasons Gibraltar is so attractive to foreign investors is the low corporate tax of 10%. Not only that, but newly registered companies can also claim the taxes they paid during the first year of activity. Among the tax incentives Gibraltar offers to companies are also the dividend tax exemption, while interests and royalties are subject to low taxes.
When it comes to the taxation of subsidiaries and branch offices of foreign companies, they will be subject to the same tax rate as local companies. An interesting fact about Gibraltar is that there is no VAT. Also, Gibraltar does not levy any capital gains tax.
Our company formation agents in Gibraltar will draft the articles of association of your company and will submit them with the Companies Register. You can also contact us if you need nominee shareholder or director services.