The principal factors to bear in mind about Gibraltar companies are as follows:
- Gibraltar companies are not always assessed for tax in Gibraltar. If a Gibraltar Company is able to establish that it is “Non-Resident Controlled”, the Gibraltar Tax Authorities will treat such a Company as not assessable for taxation in Gibraltar. Such “non-assessability” may be determined on the following basis:
- That the Beneficial Owners of a Company are non-residents of Gibraltar.
- That the Directors and Shareholders of the company are non-residents of Gibraltar or professional licensed Corporate Directors and/or Nominee Shareholders.
- That the company ONLY carries on business EXCLUSIVELY outside Gibraltar, does not establish a physical operational presence in this jurisdiction, and has no Gibraltar-source income.
In addition to the above, other advantages that may be factored into any advice that is offered to clients would be the following:
- Taxation is abolished on dividends paid by one Gibraltar Company to another Gibraltar Company.
- Taxation is abolished on dividends and interest paid by a Gibraltar Company to a non-resident recipient.
- The requirement to withhold tax on dividends is abolished.
- There is no Capital Gains Tax or Inheritance Tax due in Gibraltar.
In other words, the “non-resident control” or “non-liability” of a Gibraltar company for tax in Gibraltar, may be determined on the basis that the Directors and Shareholders of the company are non-residents of Gibraltar or Gibraltar-licensed Corporate Directors and/or Nominee Shareholders, and on the strict condition that the company ONLY carries on business EXCLUSIVELY outside Gibraltar. So long as the Company is not expected to conduct any business with Gibraltar or Gibraltarians, you should rest assured that it will not be assessable for tax in Gibraltar.
- The standard incorporation time for Gibraltar companies is 4 to 5 days.
- Gibraltar companies do NOT accommodate Bearer Shares.
- The identity of the Directors and Shareholders of Gibraltar companies are required to be filed at the Gibraltar Companies Registrar although these may be Corporate Directors and/or Nominee Shareholders.
- A minimum of one Director and one Shareholder (corporate or individual) are required to be appointed to a Gibraltar company. The Director and the Shareholder may be the same person or corporation.
For further information on Gibraltar Companies, please visit:
https://www.formacogibraltar.com/service/gibraltar-companies/