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Gibraltar is the ideal choice for establishing and offshore company, complying with the Companys Act (1929). Not only is Gibraltar whitelisted by the OECD, but it is also part of the EU (since 1973) operating under UK Common Law. As a British Dependency the language in Gibraltar is English and Spanish There are also several tax-efficient mechanisms for making investments through Gibraltar. Gibraltar is also expempt of VAT which is one of the major benefits for establishing a company here. The local currency is the Gibraltar Pound, which is of equal value to the British Sterling. The local economy is also very strong. |
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Non-residents are taxable on their income, but not if it is channelled through a trust or an exempt company. Bank interest is also exempt from paying tax.
Residents can also make use of High Net-Worth Individual status, and some expats have been given tax-privileges such as the total tax bill being capped so that the additional income over the cap is tax free.
Gibraltar also takes advantage of its geographical location and benefits from the shipping trade. The economy of the country is dominated by tourism, but in recent years the financial sector has experienced steady growth and now accounts for 20% of GDP. Gibraltar enjoys hot summers and mild winters, with views to Africa and direct access into Spain.
