Gibraltar is one of the oldest tax jurisdictions which offers speed and a very flexible tax structure for its International Business Companies which have the below advantages and disadvantages.
Adv antages
- Zero Tax
- Incorporation takes few hours
- Nominee services allowed
- Cheap to incorporate
- English is the official language
- Common Law (case by case)
- No exchange control*
Disadvantages
- Management accounts must be prepared
- Accounts and annual return must be filed
- Audited Accounts must be filed if threshold of turnover of more than GIB 1000,000 is exceeded
- Public record of director, shareholders or annual returns
- Participating jurisdiction in the exchange of information with numerous countries
- Registered agent must be used
Additional Characteristics
- Share capital; minimum GBP 1, common GBP 2,000 of GBP 1 each
- Share capital classes; registered shares, registered of no par value, bearer shares, preference shares, redeemable shares, shares with or without voting rights
- IFRS or Gibraltar GAAP (similar to the UK GAAP)
- Minimum one director and one shareholder (physical or legal persons) and a local registered office is required
- Local company secretary must be appointed
- Local Auditor must sign off the financial statements
- Restriction of trading in banking, insurance, trust services and management, assurance, fund management, collective incentive schemes
- Registered office in Gibraltar
- Gibraltar Companies Act
Set Up Package
- Memorandum & Articles of Associate
- Declaration of Compliance
- Notice of Situation of registered office
- Statement of Nominal Share Capital
- Share certificates
- Certificates of shareholders, directors, company secretary, registered office
- Government license fee
The Country (Wikipedia)