Tax-free company registration in Gibraltar

Tax-free company registration in Gibraltar

Company registration in Gibraltar without taxes is relevant, as there is no need to pay various fees, and you can optimize the payment of contributions. It is not necessary to pay fees for capital gains, inheritance, and value-added expenses, but some companies must pay an income tax. To learn more about the features of starting a business in this country, please contact our specialists at IT-OFFSHORE.

Features of business registration

Gibraltar is the British overseas territory. The official language is English. There are just a few forms in which you can create a company. The most common forms are the following:

  • Individual Entrepreneur (ST);
  • Partnership (LLP);
  • Joint Stock Company (LTD);
  • Trust.

When opening a firm, it is necessary to choose a unique name without using words related to trusts and banking activities. Otherwise, a special permit is required.

Once the name is approved, a number of documents must be provided. These include the Articles of Association, declaration of conformity, data on address, and the capital. The structure of the company requires at least one shareholder - a legal entity or individual. There are no residency requirements.

At least 1 director and the secretary are required. There are no strict conditions regarding the residence and the status of a person. The firm is registered within the jurisdiction. Requirements for submission of accounting documents may vary depending on the size of companies.

If a micro company is registered, a balance sheet is required. Average size companies require an additional profit and loss statement as well as an audit. The same documents are also required for large companies.

Pros and cons of the company

There are several advantages to opening a company in Gibraltar. The principle of taxation is territorial - profit tax should be paid only in case of activity within the jurisdiction. With this rule in mind, a tax-exempt company in Gibraltar will be validated if the activity is carried out outside the territory.

This jurisdiction is one of the few ones where no value-added tax is applied. There are no fees at the source of payment for the transfer of dividends. There is also no currency control.

The main drawback of business development in the country is that any enterprise has to submit a number of reporting documents. Taxes from activities within Gibraltar will need to be paid - the standard rate of income tax is 10%. There are special tariffs at the rate of 20%.

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