Company in Gibraltar

Company in Gibraltar

Gibraltar is located on the southern coast of the Iberian Peninsula, at the mouth of the Mediterranean Sea on the Atlantic Ocean. It is an overseas territory belonging to the United Kingdom. Its area is only 6.5 km2 and the population does not exceed 35 thousand inhabitants.

Business in Gibraltar – basic information

Gibraltar is a member of the EU, but it does not have a customs union. As a result, there are restrictions on the import and export of goods and Community VAT rules do not apply to it.
Gibraltar has a stable financial centre and therefore a stable government and banking. It has signed the equivalent of 135 Tax Information Exchange Agreements (TIEAs) (which can literally be translated into: tax information exchange agreements) with over 80 jurisdictions worldwide.

Company registration in Gibraltar

Opening a company in Gibraltar takes only a few days at minimal cost and Gibraltar companies will adapt to your needs.

Company formation in Gibraltar and taxes on Gibratar

It should be remembered that corporate income tax is only 10%. It operates on a territorial basis only, which is of twofold importance: on the one hand, it is levied only on income earned in the territory of Gibraltar and, on the other hand, it is charged when the taxable person is a permanent resident of the overseas territory in question.
The registration of a company in Gibraltar which will generate income in Poland entails no income tax. It is precisely this design of CIT that makes a company in Gibraltar so attractive, with only a handful of other countries boasting lower rates.

Not without a reason it is said to be one of the tax havens. There are no taxes on inheritance and donations, capital gains, sales and, interestingly, VAT, among others. There is also no indication that this situation would change. According to Tax Research’s article, “Tax Havens Report”, financial services account for as much as 20% of Gibraltar’s GDP, so it is obvious that this situation is being maintained. This makes registering a company in Gibraltar attractive.

Ready made company in Gibraltar

The fact that Gibraltar is a dependent territory of the United Kingdom has led the company law provisions dealing with issues such as the purchase of a company in Gibraltar or a ready made company in Gibraltar to be based on the records of that island State. Although it is possible to buy a company in Gibraltar, future entrepreneurs have decided to set up a company in Gibraltar in the traditional manner, allowing them to oversee the whole process.

Open company in Gibraltar

It can also be said that legal regulations in Gibraltar are similar to our Polish regulations on capital companies. As regards the composition of such a company, a minimum of one board member and one shareholder are required. It is interesting to note that a board member or shareholder can be either a natural person or a legal entity. Very often another ready-made company in Gibraltar assumes this role. The law has also regulated the possibility for one person to take up both of these positions, a solution chosen by those who wish to secure their shares in some way.

Gibraltar is one of the jurisdictions where it is possible to establish an offshore company, as is the case, for example, in England and the British Virgin Islands. An offshore company is an entity which, despite being registered in another country, has located the centre of its activities abroad.

Open business in Gibraltar which is confidential

The commercial register “is not interested” in who in a given company derives profits from its existence and operation, because there is no obligation to report to such a register whether it acts in its own name or on the basis of a fiduciary order. The authorities place very high value on the principle of confidentiality, which is strictly observed.

Are you interested in establishing a company in Gibraltar or do you want to talk about it? Entrust this task to professionals. Contact us.