| 1. |
Benefits |
- A
company can be owned and run from Gibraltar,
and still be eligible to receive tax
benefits.
- Good value compared to other European tax
havens
- Companies receive assurances of no local
taxes for 25 years.
|
| 2.
| Drawbacks
|
- European
competitors are more established
- Membership of the EU, Gibraltar may be
forced to bring its tax regime in line with
other countries.
|
| 3. |
Company
rank |
| Residents are taxed at 35% of net income.
Those who fall in to the exempt category pay a
standard rate of £225.
|
| 4. |
Company law source |
United Kingdom Common Law
|
| 5. |
Company
Name |
Many words sensitive, eg
Royal, Gibraltar,
International, Insurance etc.
|
| 6. |
Company formation time |
Same
day incorporation can be done at a cost of
£100, otherwise five to seven days
|
| 7. |
Ready made companies available? |
Yes
|
| 8. |
Minimum
capital expected |
£100
|
| 9. |
Capital
Duty |
Half of one percent
|
| 10. |
Number of members required |
1
|
| 11. |
Are
shares of nil amounts / bearer shares possible? |
No
/ Yes
|
| 12. |
Directors:
lowest number / company directors permitted /
locality |
One
/ Yes / May be resident
|
| 13. |
Secretary:
compulsory/ company secretary permitted /
locality |
Yes
/ Yes / Must be resident
|
| 14. |
Are
there obligations to have Registered Office or Agent? |
Yes
/ No
|
| 15. |
Is there information essential to the authorities
before incorporation before tax position
being given? |
Exemption
may only be granted after references are given.
|
| 16. |
What
information can the public access about the
company? |
Details of company officers, members and
registered address, Memorandum and Articles of
Association
|
| 17. |
What
papers have to be held at company's Registered Office? |
Shareholders and company officers register.
|
| 18. |
Where are company records kept? |
Can be anywhere
|
| 19. |
Do
accounts need to be prepared and submitted? |
Yes
/ Yes
|
| 20. |
Is
a yearly return compulsory? |
Yes
|
| 21. |
Do meetings have to be held in a particular
place? |
No
constraint
|
| 22. |
Yearly
cost payable to the government / Yearly Return
expenses |
£225
|
| 23. |
Any restrictions on money transfers? |
None
|
| 24. |
Tax arrangements with other countries? |
None
|
