offshore company formation tax havens Home

Gibraltar Offshore Company Formation

There are several available forms of Offshore Companies in Gibraltar which are viable vehicles for international trade: each with their own benefits and features: Gibraltar tax exempt companies; Gibraltar Non-Resident Companies; Gibraltar Hybrid Companies and the Gibraltar Qualifying company. The most favorable and practical offshore company structure FOR offshore international business activities is the Gibraltar Non- Resident Company.

The Gibraltar non-resident company or the Gibraltar offshore company is a company incorporated in Gibraltar, which is wholly owned by non-residents of Gibraltar, and is managed and controlled by directors who reside and hold meetings outside Gibraltar. It is the simplest and the most practical type of all the Gibraltar offshore corporate entities available in the jurisdiction.

Gibraltar company incorporation procedure includes the submission of the Memorandum and Articles of Association and a Declaration of Compliance. Gibraltar company formation can be undertaken very quickly, the standard incorporation time for Gibraltar companies is 4 to 5 days. The language of legislation and corporate documentation is English.

Gibraltar non-resident companies pay only a corporation tax on its income derived from or remitted to Gibraltar. For Gibraltar company formation, the non-resident company must have a registered office and have a Resident Secretary in Gibraltar but may not trade or carry on business in Gibraltar or with residents of Gibraltar. To maintain tax exemption the Gibraltar Corporation must comply with the ‘Non-Resident’ rules of the jurisdiction. In addition to corporate tax exemptions, there are no withholding taxes on dividends, interest, royalties and management fees payable to non-residents. There are no income taxes, capital gains taxes, gift taxes, wealth taxes nor VAT for Gibraltar companies.

For many years, Gibraltar has been a successful and developed jurisdiction for offshore incorporation and offshore financial services.

The benefits of Gibraltar companies opening, similar to Belize companies formation, includes facts such as no requirement to disclose the beneficial owners of a Gibraltar offshore company to the registry (but shareholders names have to be filed with the Registrar of Companies); Gibraltar offshore companies may own or manage a vessel registered in Gibraltar; share capital can be formed in any recognizable currency, usually it is GBP, Euro or US; no requirement for an annual audit (filing of accounts is required but in a very abridged form); no exchange controls or regulations set upon Gibraltar companies. The company has very flexible incorporation requirements as it pertains to the set up and organization of the company. The directors and shareholder may be individuals or corporation. The shareholder can be a director as well.

Company incorporation features registration and maintenance requirements: The number of shareholder needed is one. The same applies to the number of directors. The nationality of shareholders and directors does not matter, the means Gibraltar companies can be owned by non residents. A resident secretary is required who may be a natural person or body corporate. The authorized share capital is optional, but accepted standard is $2000 sterling pound. The paid up capital is a minimum of 1 sterling pound. Bearer Shares are not allowed. The paid up share capital cannot be less than £100.

Both a Registered agent and a registered office is required. The Gibraltar Company must also file an annual tax return, though an audit is not required.

Gibraltar company incorporation that is publicly available on the Memorandum & Articles of Association is the name and address of the registered office and agent, the annual income, the names of the directors and shareholders.

Gibraltar residents may not have a beneficial interest in the shares of the company. They still can be Nominees or working staff of the company. After company formation the Gibraltar Company should not carry out or transact any trade or business in Gibraltar unless all receipts and income arise either outside Gibraltar or from dealings with other exempt or qualifying companies and nonresident persons. Companies undertaking business with residents of Gibraltar have to prepare accounts for submission to the tax authorities, but these accounts are not available to the public.