Gibraltar: how to start a company now 2022
The ability to register a company quickly and inexpensively is the reason why an offshore in Gibraltar is in demand. To start a business, a foreigner does not have to go through numerous bureaucratic procedures, and the company can be opened remotely. The main thing is to prepare the corporate documents, meet the requirements, pay the registration and other fees required to open a company in Gibraltar 2022.
Decide on the type of business
If you plan to work in Gibraltar, you can open a resident company and pay one of the lowest corporate fees in Europe (10%). If you plan to work outside the jurisdiction, you can set up an offshore company and not pay this tax at all.
The organizational structure can be of the following types:
- Individual entrepreneur - an option for small businesses. An individual is registered as a self-employed person, and it is possible to register under a commercial name to ensure anonymity.
- General partnership - a company provides for at least 2 owners. The option is suitable for start-ups or family members who want to start an offshore company. The business structure does not separate the individual from the legal entity, so he or she is responsible for the company's debts, credit debts.
- Limited Liability Partnership - The entity has a general partner and a limited partner. The first is responsible for the day-to-day management of the business, and has unlimited obligations. The second simply invests in the company, does not interfere with operations, and has limited obligations.
- LLP - there are no general partners here. Each founder has limited liability, but they can all run the business and pay taxes based on their income in the company.
- Trusts - can pay no tax if they do not earn income in the jurisdiction. Also its beneficiaries must not be residents of Gibraltar.
Foundations - act as trusts, but are legal entities. Also, the foundation can own and operate real estate as a legal owner.
- LTD - the most popular form of company registration in Gibraltar by foreign investors. Everyone is responsible to the extent of his share, while the personal property is protected.
A big plus in Gibraltar is quick incorporation. It takes no more than 5 days to register a company and requires a minimum of documents:
- Copies of passports of owners, shareholders, directors.
- Contract, which confirms the rental of a physical office in the jurisdiction.
- Authorized capital - £1.
- Receipts of payment of state fees.
To formalize the business, you need to register the name at the Registrar's Office. Then fill out the S1 sole proprietorship registration form for each partner, then send all documents to the registrar.
An important requirement is that in addition to an office, the company must have a secretary, director and shareholder. If you have 2 directors, one of them can act as secretary.
If you are worried about confidentiality, you can hire nominee directors, secretaries through whom you can manage the company. The main thing is to arrange so that the business owner is the only person who can sign bank accounts. This will allow you not to worry about leaking finances, since nominees have no such rights.
To complete the registration, you must file an application with the Ministry of Employment. When it confirms the registration, the tax office will complete the process, after which you will receive your registration documents.
How to start a business in Gibraltar now
To open a business in Gibraltar, contact IT-OFFSHORE experts.