Gibraltar: The Best European Offshore in 2024

Gibraltar - a self-governing overseas territory of the United Kingdom, located on the south of the Iberian Peninsula. Opening an offshore company in this jurisdiction in 2024 is an excellent option for foreign investors. Gibraltar offers a stable economic environment, favorable geographical location, low tax rates and a developed banking system.

Tax Policy

Gibraltar's tax system is business friendly and outperforms other jurisdictions. The corporate tax rate is one of the lowest in Europe at 10% (with exceptions for banks, insurance companies and some other companies). This rate applies to resident companies doing business in Gibraltar. For non-resident companies, the corporate tax rate will be 0%.

In addition, there are other tax advantages:

• No income or passive income tax;
• No VAT, so companies do not pay for goods and services sold/provided in the jurisdiction. Except for goods imported from abroad, as according to the agreement between Gibraltar and the EU, the standard 20% rate (products, clothing, books) and reduced from 0 to 5% rates apply;
• No capital investment tax, so investors can invest without fear of additional fees;
• No capital gains or inheritance tax;
• Dividends or interest paid to a non-resident is not taxed;
• No withholding requirements on dividends;
• The jurisdiction has double tax treaties with many countries, allowing investors to optimize taxes.

Requirements for a Non-Resident Company

To obtain non-resident status and benefit from tax incentives, the company must meet these conditions:

• Shareholders and directors cannot be local residents. In 2024, you can open a company in Gibraltar with a director resident in Belarus and other CIS countries (except Russia);
• The company must conduct business only outside of Gibraltar. If it decides to provide services in the jurisdiction, corporate fees are paid only on profits earned in the domestic market;
• Payment of an annual fee and regular fees to the Registry of Companies.

If you are considering an offshore company in Gibraltar, IT-OFFSHORE specialists will assist with document processing.