Gibraltar Companies

gibraltar

 

 

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Corporate Features

 

GENERAL
Type of Company
Exempt
Political Stability
Good
Common or Civil Law
Common
Disclosure of Beneficial Owner
Yes
Migration of Domicile Permitted
Yes
Tax on Offshore Profits
Nil
Language of Name
Latin Alphabet
CORPORATE REQUIREMENTS
Minimum Number of Shareholders
One
Minimum Number of Directors
One
Bearer Shares Allowed
No
Corporate Directors Permitted
Yes
Company Secretary Required
Yes
Standard Authorised Share Capital
£ 2,000
LOCAL REQUIREMENTS
Registered Office/Agent
Yes
Company Secretary
Yes
Local Directors
No
Local Meetings
No
Government Register of Directors
Yes
Government Register of Shareholders
Yes
ANNUAL REQUIREMENTS
Annual Return
Yes
Submit Accounts
No
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/Licence Fee
£ 225
Annual Return Filing Fee
£ 26

 

GENERAL INFORMATION:

Gibraltar is a peninsula at the southern tip of Spain with an area of approximately 7 sq. km. It is adjacent to Africa yet within Europe, and has a historically strategic position at the junction of the Atlantic and the Mediterranean. The Rock of Gibraltar is limestone, is almost 425 m high, and has hundreds of metres of tunnels that were dug for various military campaigns. The name itself derives from the Moorish leader Tariq who used Gibraltar as a base in the eighth century. “Gibel Tariq” means the Mountain of Tariq.

POPULATION

The population of Gibraltar is approximately 30,000 although a substantial number of the working population commutes daily from homes nearby in Spain. A number of Moroccan, British and Indian expatriates live in Gibraltar.

POLITICAL STRUCTURE

Gibraltar is a British Dependent Territory and is a Crown Colony with internal self-government. It has its own elected House of Assembly, which legislates on domestic matters. The United Kingdom is responsible for defence, foreign affairs, financial stability and internal security. Gibraltar is a member of the European Union by virtue of Article 227 paragraph 4 of the Treaty of Rome in its capacity as a territory for whose external relations a Member State (the United Kingdom) is responsible.

Gibraltar enjoys special status within the Community and is exempted from the Common Customs Tariff, the Common Agricultural Policy and Value Added Taxation.

Gibraltar is politically stable and the current Government, actively promotes Gibraltar as a first-class international financial centre.

INFRASTRUCTURE AND ECONOMY

Since the opening of the border with Spain in 1985, the level of tourism and investment has increased dramatically. Several international banks and insurance companies have offices in Gibraltar.

Gibraltar has excellent modern postal and telecommunications systems. Thanks to a joint venture between the Gibraltar Government and the Nynex Corporation of the USA, Gibraltar enjoys the latest in digital and fibre-optic telecommunications.

There are daily flights between Gibraltar and London and frequent scheduled air services to Manchester, Luton and Tangier. Although it is not at present possible to fly direct from Gibraltar to Spain and other destinations the airports at Seville, Jerez and Malaga can easily be reached by road and provide direct services to many international destinations.

The Port of Gibraltar enjoys free port status and hosts frequent calls from many of the world’s shipping lines, both passenger and freight.

LANGUAGE

The official and spoken language is English although because of Gibraltar’s close proximity to Spain, Spanish is spoken widely.

CURRENCY

UK Pound. Local notes and coins are produced but UK Currency is accepted, as is the Spanish Peseta, with most shops displaying dual currency price tags.

EXCHANGE CONTROL

None.

TYPE OF LAW

Common Law based on English Common Law.

PRINCIPAL CORPORATE LEGISLATION

Based on the United Kingdom 1929 Companies Act (as amended) and the Companies Ordinance 1984 (as amended).

COMPANY INFORMATION:

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT

Exempt Company.

PROCEDURE TO INCORPORATE

Filing of Memorandum and Articles of Association, Statement of the Situation of Registered Office, a statement declaring the Authorised Share Capital and a Declaration of Compliance.

RESTRICTIONS ON TRADING

Cannot trade within Gibraltar or undertake the business of banking, deposit taking, insurance, assurance, reinsurance, fund management, asset management or any other activity associated with the finance industry.

POWERS OF COMPANY

A company incorporated in Gibraltar has the same powers as a natural person.

LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS

English.

REGISTERED OFFICE REQUIRED

Yes, must be maintained in Gibraltar.

SHELF COMPANIES AVAILABLE

Yes.

TIME SCALE TO INCORPORATE

Subject to name approval, a company can be incorporated within five working days.

NAME RESTRICTIONS

Any name that is identical or similar to an existing company. Any name which, in the opinion of the Registrar, is undesirable or offensive. Any name which suggests royal or government patronage. Any English name, or their foreign language equivalent, which may imply a field of activity associated with the banking or finance industry.

LANGUAGE OF NAME

The name can be in any language that uses the Latin alphabet, but must be accompanied by a translation to ensure that the name is not prohibited or licensable.

NAMES REQUIRING CONSENT OR A LICENCE

The following names or their derivatives: bank, building society, insurance, assurance, reinsurance, fund management, asset management, investment fund, trust, trustees, municipal, Chamber of Commerce, co-operative or their foreign language equivalents. “International” and “Gibraltar” cannot be used without consent unless they are bracketed.

SUFFIXES TO DENOTE LIMITED LIABILITY

Limited or Ltd.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES

In order to obtain exempt status, an application has to be made to the Financial Services Commission. The application must include the name and address of the beneficial owner(s), and bank character references relating to the beneficial owners. This information is not on public record.

COMPLIANCE:

AUTHORISED AND ISSUED SHARE CAPITAL

Normally £ 2,000 divided in to 2,000 shares of £ 1 each. This being the maximum authorised share capital for the minimum capital duty payable upon incorporation. The authorised share capital may be expressed in any currency. The minimum issued capital is £ 100.

CLASSES OF SHARES PERMITTED

Registered shares, bearer shares (but unusual in the case of an exempt company), preference shares and redeemable shares or shares with or without voting rights.

BEARER SHARES PERMITTED

Not available for Exempt Companies.

TAXATION

A Gibraltar Exempt Company is exempted from local taxation.

DOUBLE TAXATION AGREEMENTS

Gibraltar is not a party to any double tax treaties

LICENCE FEES

£ 225 per year.

FINANCIAL STATEMENT REQUIREMENTS

There is no requirement to file financial statements, but a company must keep records to reflect its financial affairs.

DIRECTORS

The minimum number of directors is one, who may be natural persons or bodies corporate. They may be of any nationality, and need not be resident of Gibraltar.

COMPANY SECRETARY

All Gibraltar companies must appoint a resident company secretary, who may be a natural person or body corporate.

SHAREHOLDERS

The minimum number of shareholders is one.

Gibraltar – Exempt
Base Price: 650.00

 


RELATED PRODUCTS

Gibraltar – Exempt — 650.00



With Bank Account – ADD €500.00



Courier Fees – ADD €60.00



Nominee Director – ADD €450.00



Nominee Shareholder – ADD €500.00



Registered Office – ADD €475.00