Business benefits of company registration in Gibraltar
Many businesspeople are currently interested in registering a company in Gibraltar in 2020. This jurisdiction is an EU member with a special status. It is possible to register a company at a relatively low cost and the level of taxation is low. The official language is English and there is the possibility of using nominal service.
The advantage of opening a company in the territory is that there are no restrictions on trade outside the jurisdiction. For most types of business, an additional license is not required. The exception is the provision of banking and insurance services.
Features of economy and taxation
Gibraltar is a British Overseas Territory. Jurisdiction has EU membership status. In 2012, its GDP had increased by more than 7 percent to $1.887 billion, and the corresponding figure per capita was more than $64,000.
Most of this value is generated by the service sector. Tourism is considered to be the main sector of the economy, as well as banking and tobacco manufacturing are developed in the territory. The financial sector provides about 20% of GDP. The country receives income from shipping service fees. Gibraltar is one of the member states of the European Union, where no value-added tax is levied. The country's tax system is similar to that of Hong Kong.
Business development in the jurisdiction: main advantages
You can buy a company in Gibraltar in 2020, either non-resident or onshore. Acquiring a company in the territory gives the owner several advantages, which can not be obtained in all EU countries.
The advantage of registering a company in offshore Gibraltar is that the tax rate for non-resident companies is 0%. Income tax at the opening of a resident company will be 10%. The status of jurisdiction is highly respected, and it is not on the FATCA blacklist.
One of the advantages is the absence of VAT, documentation is provided in international English. There is no requirement for citizenship and residence of directors and shareholders of the firm. There are no conditions for the payment of share capital; it is possible to use nominal service. It is also possible to open accounts in different countries.
Nuances of opening a company and main directions
The Gibraltar offshore area is loyal to businesses that have connections to shipping and real estate. It is not difficult to register a yacht or open a trading firm in the country. However, the only obvious requirement that the business is legal. It is not uncommon for businesspeople to choose this jurisdiction because of the transparency of export and import operations.
Owners of companies are guaranteed data protection and confidentiality, as all information in the official registry is not disclosed. The company registration period is short. Online business as well as IT-related business is most often registered in the country. Many entrepreneurs choose a trade direction, including online, software development.
A promising direction is an electronic commerce, real estate, and consulting services. Registering a company will allow you to save assets, optimize the tax burden, and keep it confidential.