- What is Gibraltar?
- What is a non-resident company in Gibraltar?
- A non-resident company in Gibraltar is an ideal choice for holding companies, property management, doing business over the Internet, etc.
- Bank accounts for non-resident companies in Gibraltar
- The nature of nominee service for a company in Gibraltar
- Documents required for company registration in Gibraltar
- Procedure: How to register a non-resident company in Gibraltar
Welcome to the service of non-resident company registration in Gibraltar. With a Gibraltar company, you can create a European company not subject to paying local taxes, provided that you do not generate local income in Gibraltar. The company registration is arranged remotely. The services of a professional director are included in the price.
What is Gibraltar?
Gibraltar is a British overseas territory but is not technically a part of the United Kingdom. It is the southernmost part of the Iberian Peninsula. The area of this tiny jurisdiction is only 6.5 kilometers.
The economy of Gibraltar mainly relies on tourism, banking, online gaming and betting industry, finance, ship repair and refueling, the sale of tobacco products. After the UK’s Brexit agreement and the transition period set for Gibraltar’s withdrawal from the EU, Gibraltar remains in the European Economic Area and is a de facto part of the Schengen area with minimum border control. According to the Judgment of the Court of First Instance of the EU in 2008, Gibraltar has the right to set its own taxes and maintain its taxation policy independently from the UK legal system.
The corporation tax rate is 10%. Besides, Gibraltar does not charge VAT. Many people compare Gibraltar’s tax system with that of Hong Kong.
An important feature of Gibraltar is that non-resident companies (see description below) do not pay taxes in the territory of the jurisdiction, which counts as a complete absence of taxes.
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What is a non-resident company in Gibraltar?
A non-resident company is a company in Gibraltar that is not considered taxable by the local tax authorities. What defines that a company is not a tax resident in Gibraltar?
- the Beneficial Owner of the company is a non-resident of Gibraltar
- the directors and shareholders are non-residents or professional licensed corporate directors and/or Corporate Nominees
- the company operates only outside Gibraltar, has no physical operating presence in the jurisdiction, and generates no income in the territory.
By complying with these requirements, the company is exempt from having to pay corporation tax. Also in Gibraltar, there is no VAT, no tax on dividends payable to another Gibraltar company, no tax on the payment of dividends and interest to non-residents, and no capital gains tax or inheritance tax.
It is important to note that when registering a non-resident company in Gibraltar, the details of the directors and shareholders are submitted into the register of companies.
It is allowed to use nominee services. The registrar is required by law to know exactly who the true beneficial owner is. If the person registering the company tries to conceal the real owner, he will be denied the appointment of nominees.
A company in Gibraltar is required to have a minimum of 1 director and 1 shareholder, which can be either individuals or corporations.
Gibraltar needs to have a registered office, a seal, statutory books, and a secretary.
The company needs to maintain Balance Sheets signed by the Director. There is no requirement to have these statements audited.
A non-resident company in Gibraltar is an ideal choice for holding companies, property management, doing business over the Internet, etc.
Bank accounts for non-resident companies in Gibraltar
All companies, whichever their business may be, need a bank account. Gibraltar has an excellent reputation with bankers. However, they look not only at the company’s place of registration but also the place of residence of its beneficial owners. Requirements set by the bank will be much tougher for citizens of certain countries.
We recommend that before proceeding to the registration of a company in Gibraltar, you sign up for a free consultation with our experts savvy in the customized selection of bank accounts. During the private online session, you can tell us about your objectives and goals for the company in Gibraltar and our consultants will help you choose a suitable bank or payment system where you can open a bank account.
To book a FREE consultation, just send us your message to our e-mail address or messengers.
The nature of nominee service for a company in Gibraltar
As stated above, the details of the director and shareholder of a company in Gibraltar are entered on the register. To avoid accidental disclosure of personal information, clients have every right and opportunity to use the services of a nominee director and shareholder.
Instead of your last name, the information of other individuals and companies will appear on the available documents. This will provide additional privacy.
However, it is worth understanding that the nominee service is not available to those who hide their true identity from the regulatory authorities. The registrar and banks need to know who the true beneficial owner is. If you don’t give them the data, they will refuse to cooperate.
Nominee services are included with this service. You can decide to omit this element but the price of the service will remain the same.
- Who would benefit from becoming a tax resident of Gibraltar?
- How can you buy or form an offshore company in Gibraltar?
Documents required for company registration in Gibraltar
To register a company in Gibraltar, you need to prepare a package of documents:
- a completed application for company incorporation and a questionnaire (to be provided by us) about the origin of funds
- certified copies of passports of directors, shareholders, beneficial owners
- the proof of address for directors, shareholders, beneficial owners: an original or certified copy of a utility bill, bank statement, credit card statement, copy of driver’s license, or ID no older than 3 months
- if there are corporate directors and shareholders, you also need to provide:
- a certified copy of the Certificate of Incorporation
- a certified copy of the Memorandum and Articles of Association
- a Certificate of Incumbency mentioning the names and addresses of directors and shareholders of the company
- a recommendation from a lawyer or accountant for each beneficial owner (issued not earlier than 3 months ago).
Apart from the documents, you need to provide a detailed description of the business you are planning to do through the Gibraltar company, as well as the anticipated turnover and income.
It is also required to provide the proof of origin of funds, including a resume, a business plan, a copy of the contract of sale of real estate, etc.
Procedure: How to register a non-resident company in Gibraltar
Contact us at the e-mail address email@example.com and tell us about your wish to form a non-resident company in Gibraltar.
Together with the consultants of the portal choose the jurisdiction and the bank for opening an account, if necessary.
Pay for the service of opening a non-resident company in Gibraltar. Cost – from 4600 EUR.
You can pay by bank card, transfer, PayPal, WesternUnion, Bitcoin.
The price includes:
- Company registration
- Payment of fees for one year of operation of the company
- Annual financial report filing
- Nominee services for 1 year
- Legal address
The annual renewal of small company registration in Gibraltar costs from 4600 EUR (includes the mandatory extension of the legal address in Gibraltar for one year, the mandatory extension of the company secretary in Gibraltar for one year, the mandatory annual customer compliance, the preparation and filing of the only mandatory report in the form of a simplified balance sheet.
Compile a portfolio of documents for your company registration (as described above). Choose the name of your company.
Our partners will register the company and provide you with corporate documents.
Registration of a non-resident company in Gibraltar takes from 5 working days from the date of receipt of a complete set of documents and payment for the service.
For further questions please contact us.
Which companies set up in Gibraltar can have the status of non-residents?
For a firm registered in Gibraltar to be considered non-resident and tax-exempt, it must meet the following requirements: the owners, shareholders, and directors of the company are non-residents of Gibraltar; the company has no operational presence in the jurisdiction; its business is not conducted in the territory of the jurisdiction, services are not provided to the public. Moreover, a non-resident company can not keep money in Gibraltar banks.
Is the use of nominee services at the time of company registration allowed in Gibraltar?
Yes, it is legal. Professional directors and corporate nominees can be used to ensure confidentiality. They will be listed in the public company registry. However, the registrar still needs to specify the name of the real owner of the company. Otherwise, cooperation will be denied.
What documents will I need to register a company in Gibraltar?
To register a company in Gibraltar, it is necessary to collect a package of documents: certified copies of passports of beneficial owners, directors, shareholders, a completed application form and questionnaire, the proof of residency of all signatories of the firm. If nominee directors and shareholders are used, it is necessary to prepare some other relevant papers. You will also need a business plan and proof of origin of funds.