Gibraltar

Key facts about Gibraltar

• part of EU (since 1973), and subject to European Law
• British overseas territory with internal self government
• strong economic growth
• Leading International Finance Centre
• compelling tax package
• growing economic relationship with Spain
• 2 1/2 hour flight from London, 1 hour from Madrid

Some of the tax benefits

• no VAT or other sales tax
• no capital gains tax
• no wealth tax
• no inheritance tax or gift taxes or estate duty
• no exchange controls
• no stamp duty on transfers of shares
• Tax-efficient opportunities for international business and High Net worth individuals

Gibraltar, a United Kingdom Overseas Territory, is situated at the southern tip of the Iberian peninsula, overlooking Morocco. It is eight kilometres square with a population of approximately 28,000 people.
The development of the financial sector in Gibraltar has been facilitated by its location, a favorable tax regime, a stable government, status within the European Union (EU), no exchange controls, a legal framework based on the British system, and the availability of a well-qualified labour force.

Gibraltar and the E.U.

Under the Treaty of Rome, Gibraltar lies within the European Union and is subject to all European Law but it is exempted from complying with the European Community's common customs tariff, common agricultural policy and the harmonization of turnover taxes.

Regulation of Financial services in Gibraltar

The offshore financial services sector in Gibraltar is closely regulated by the Gibraltar Financial Services Commission (FSC). The FSC supervises all Gibraltar banks, investment businesses, insurance companies and corporate service providers. Offshore company management licenses in Gibraltar are only issued to firms and individuals who have satisfied extremely stringent professional, legal and financial requirements.
The chief aim of such regulation is to ensure that the interests of the clients of the Gibraltar offshore sector always remain protected in the best possible way. Serving ever more as an "offshore branch" of the City of London, Gibraltar has outstanding infrastructure, communications and work culture. The regulatory, legal and economic environment of Gibraltar has been recognized as benchmark towards which other offshore jurisdictions are often being compared.

Corporate Taxation

Gibraltar offers a compelling tax package, and some of the tax benefits included are, no value-added tax, no capital gains tax, no inheritance tax, no wealth tax, and no estate duty.
More recently, the Gibraltar Government has also abolished tax on certain types of investment income. For High Net Worth individuals, there are also special tax benefits.
For more information on any of the above please contact us