Registering a company in Gibraltar
The Gibraltar peninsula is geographically close to Africa. Its location is advantageous for conducting international business, as the peninsula has access to the Atlantic Ocean and the Mediterranean Sea. The territory is populated by about 300 thousand people. The official language of the jurisdiction is English.
Tourists most frequently visit the peninsula in the spring and late summer. Buying a company in Gibraltar is profitable given that the jurisdiction is a member of the European Union with a special status.
Advantages of registering a company
There are some advantages to registering a company in Gibraltar. This procedure is relatively inexpensive, considering relatively low tax rates. The official language is English, also a widely spoken language worldwide. Nominal services are also offered.
Other advantages are the following:
- It is possible to open an account in a bank of jurisdiction;
- The state has a good reputation;
- High level of confidentiality;
- In some cases you may be exempt from paying income tax.
To work in the banking and insurance sector, you need to obtain a special permit. In most cases you can create a business without obtaining additional licenses.
Reporting and taxes
One of the requirements for companies is to submit reports and declarations. Small companies can file a shortened balance summary sheet. Medium- and large-size companies have to submit full reports with a consolidated balance sheet, income and loss data, etc.
All companies file tax returns. It is possible to register an offshore company in Gibraltar if certain requirements are met. The company cannot provide services to the population of the peninsula, conduct work that is connected with the provision of a legal address to other organizations and own real estate.
Features of registration
You can open a limited liability company, which carries the status of a non-resident company. The legislation refers the 1984 called "About the companies". The organization may conduct business in different countries.
An organization registered in the jurisdiction has the right to engage in permitted activities while still having to request a license in some areas of business activity. It is necessary to have an office on the peninsula and a secretary who is a resident of the country.
The minimum number of directors is 1. It can be a natural or legal person. Information about the directors of the organization is publicly available. A meeting of shareholders is held anywhere in the world. The share capital is at least 2,000 British pounds. To register a company in Gibraltar, please contact our specialists at IT-OFFSHORE.