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)