Why you should choose Gibraltar for international business
Gibraltar is a great option for companies that plan to do international business. The British Overseas Territory, located in the south of the Iberian Peninsula, is excellent for accessing the EU and African markets. Among the advantages of registering a business in Gibraltar 2022 are low taxes, developed infrastructure with world-class services.
You can open 2 types of companies in Gibraltar:
- Resident - these are businesses that operate within the jurisdiction. They pay one of the lowest corporate taxes in Europe - 10%.
- Non-resident - businesses that operate outside the jurisdiction. They are completely exempt from corporate tax. All that is required to conduct international business - do not forget about the small annual fee, on time to pay registration fees to the Registration Chamber.
In Gibraltar, there is no VAT, no capital gains tax, no inheritance tax, no estate tax, no wealth tax. There is also no capital gains tax, but here much depends on the decision of the Commissioner. Based on UK case law, it will determine whether a company's activities are trade or capital gains.
Individuals and companies pay income tax on local but not foreign income. This means that if an international company turns its attention to the domestic market, there can be no fear of having to pay for profits made outside the jurisdiction.
Tax on dividends
No income tax is levied on dividends received by the company. Only individuals who are local residents pay taxes on dividends. An exception is when dividends are received from companies that are listed on a recognized stock exchange.
Good news for the gambling industry. Online gambling operators (casinos, betting contras) that are registered in the jurisdiction are taxed at 1% on income up to £425,000.
Stamp duty is not charged on transfers of shares in Gibraltar companies. The exception is when it owns real estate here or creates/increases share capital. In the latter case, it must pay stamp duty - £10 regardless of the amount of capital.
Ease of registration
A big plus is the ease of incorporation. To open a company in Gibraltar 2022 takes 3-5 days and the minimum package of documents:
- certificate of office in Gibraltar;
- registered capital of £1;
- receipt of payment for public services;
- сopies and summaries of passports of owners, directors, shareholders.
Gibraltar allows nominee services, which you can use if you do not want to shine your name in the public lists. Our company offers nominee directors, secretaries, trustees, that will allow the owner to confidentially manage the company. In this case, the owner will be the only person who has the right to put a signature on the company's bank accounts. Nominees have no such rights, so you don't have to worry about security.
Gibraltar's banking industry is developed, has a good reputation worldwide, so it's great for international business. Plus - some banks provide cryptocurrency services to companies and individuals.
Gibraltar boasts high-speed Internet, developed transport system. In addition to roads, it has its own airport with regular flights to London, Manchester, Bristol and Casablanca. Plus - it serves private flights, cargo planes. Also, don't forget about the port, which serves cargo ships, liners.
How to start a company in Gibraltar
If you want to do international business in Gibraltar, contact IT-OFFSHORE experts and we will help you.