The Benefits of a Gibraltar Offshore Company

Tuesday, April 21, 2015, AM | Leave Comment

In Gibraltar, a non-resident company is one that is incorporated in Gibraltar but managed, owned, and operated by individuals who are not residents of the country. This is a legally protected designation according to the Companies Ordinance of 1967.

In Gibraltar, non-resident companies are not liable to the same taxes are resident companies. This tax exempt status only applies if the company does not do business in Gibraltar or remit income to the country.

In this way, a Gibraltar offshore company could be completely tax free for a non- Gibraltarian.

  • Requirements of a Non Resident Company

    In Gibraltar, non-resident companies are free from most forms of taxation.

    To maintain that tax exempt status, a company must follow a few guidelines:

    • A company must have at least one director on its board of directors.

    • Records must be publicly accessible.

    • Meetings can take place anywhere, but must not take place in Gibraltar.

    • Company must have at least one shareholder.

    • Shareholder meetings can take place anywhere, but must not take place in Gibraltar.

    • A secretary is required for the company.

    • The secretary must be local to Gibraltar.

    • Annual tax returns are required.

    • Accounts must be filed with the proper authorities in Gibraltar.

    • The minimum authorized capital is £100, but £2,000 is standard.

    If a business follows these guidelines and a few others, it can be incorporated as a non- resident company and enjoy the tax exempt status.

  • How to Set Up

    The favourable business atmosphere of the country extends beyond its generous tax exemptions. To foster a robust international business industry, setting up and operating a business in Gibraltar is remarkably quick and efficient.

    A company can generally be formed within three or four days. For an additional fee, the company can be incorporated within twenty-four hours of applying.

    A company can even be created online. The online application requires simply assuring that the desired company name is available, completing a due diligence checklist, and paying the relevant fees. This can be completed very quickly.

  • Are They Secure?

    Considering how quickly and easily one can set up a non-resident company, it is safe to wonder how safe these organizations actually are.

    Also, one might wonder how secure the owners of these companies are from injurious tax litigation.

    In 2008, the Organisation for Economic Co-operation and Development (OECD) stated that non-resident companies comply with EU regulations but the Exchange of information Act or Evidence Act does not require the owners to be identified.

  • How to Set Up

    Though the process for incorporating in Gibraltar is fairly simple and straightforward, any company formation can be confusing and time intensive.

    This is why it’s so important to find an organization that can set up your company for you.

    These companies that specialize in non-resident companies provide many if not all of the necessary components of a legitimate business.

    For a small fee, you can hire secretary services, office space, and the lawyers necessary to maintain your legal tax exempt status.

    With an experienced, well organized company, you can save more of your capital without the headache of trying to handle it yourself.

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