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Tax Haven Gibraltar

Gibraltar is one of the British territories (dependent). It is bordered by Spain on the Europe continent. The Rock, an unofficial name for Gibraltar has a population estimated at 35,000. The official language spoken is English.

For many years Gibraltar has made itself as one of the world’s leading tax havens, offering tax exempt offshore companies, offshore banking services, insurance and finance management services. The actual economic climate regarding Gibraltar depends seriously on the offshore and financial sectors. Company formations and company renewals contribute significantly to the GDP.

Tax haven Gibraltar grants offshore or tax exempt status to certain Gibraltar corporations. These include the Gibraltar Tax Exempt Company, Gibraltar Non- Resident Companies, Gibraltar Qualifying Company and the Gibraltar Hybrid Company. Business corporations incorporated in Gibraltar must not engage in trade in the offshore jurisdiction if they want to be offshore companies for tax purposes. Income remitted by non- resident companies to tax haven Gibraltar will be taxed by the authorities

Tax haven Gibraltar does have the characteristics of a tax haven in that it has both a low tax and a no tax regime. Tax haven Gibraltar does not impose taxes on offshore business companies or Gibraltar nonresident companies that have and do no business in Gibraltar. All income of a company that is earned out of Gibraltar including interest gained, dividends and profits earned is tax free. Any money remitted to Gibraltar will be taxed.

Tax haven of Gibraltar has no capital gains tax, value added tax (VAT), gift tax, wealth tax, withholding tax, estate tax etc in place. Like many other tax havens, Gibraltar offshore companies must pay an annual license fee to the government. The annual fee is set at a fixed rate.

In tax haven Gibraltar investors will find many branches of many of the world’s leading banks providing offshore banking services to the region. Offshore banking I tax haven Gibraltar does come with its level of confidentiality and the expected veil of privacy. Gibraltar banking secrecy laws protect the information of owners of offshore bank accounts. The tax haven of Gibraltar is counted as one of the top offshore tax havens for offshore banking on the European continent. Firstly, offshore bank accounts in tax haven Gibraltar are not subjected to taxes. Income in Gibraltar offshore bank accounts and interest gained are tax free. Offshore bank accounts can be established for offshore corporations and individuals in tax haven Gibraltar.

Identity protection is also secured during the company formation process. When incorporating Gibraltar non-resident companies, details of the beneficial owners and shareholders are not available as a public record. In fact, the law for non-resident company formation does not require the names of Gibraltar company owner for submitted to the Registrar of companies. On top of these provisions, nominee shareholders and nominee directors can be used for company formation of non resident companies in Gibraltar.

Requirements for formation for Gibraltar non-resident companies is minimal as all offshore company formations; only one shareholder and one director are needed to incorporate a Gibraltar offshore corporation.

Tax haven Gibraltar small offshore corporations do not have to file audited financial sheets. Small companies are those with annual turnover of below £4.8 million and employees are not more than fifty (50) persons. The accounts of Gibraltar offshore companies are not available to the public and this information remains where the shareholders of the company deems appropriate

The tax haven of Gibraltar has signed a few tax treaties with other countries including Malta, Netherlands, SA and Iceland.

Gibraltar as a tax haven provides excellent and proficient non-resident company services. Tax haven Gibraltar has all the characteristics of a good tax haven. Offshore clients can be guaranteed that they will save on tax and at the same time receive asset protection. Incorporation of offshore business entities in the tax haven of Gibraltar can take up to one (1) week and is quite inexpensive.