ANNUAL FEES FROM £800.00
This Gibraltar non-resident company formation package is for customers, who require to set-up a company in Gibraltar with a registered office address. The registration of a company in Gibraltar takes 5-8 days.
The following items are included in to this offer:
ANNUAL FEES FROM £1,150
This is one of the very favourite company formation in Gibraltar packages for customers, who wish to appoint a nominee director in order to maintain the anonymity, & free consultation.
This company registration in Gibraltar offer includes all services mentioned in the first option, plus the following:
ANNUAL FEES FROM £1,400
This is one of the most popular company incorporation in Gibraltar packages for customers, who wish to appoint a nominee shareholder as an additional to the nominee director, & free consultation.
This company start-up in Gibraltar offer includes all services mentioned in the second option, plus:
NEXT YEAR FEE £1,400
This is the most optimal company set-up in Gibraltar package in the market for such customers, who wish to legalise all corporate documents by a Notary Public and certify them by the Apostille stamp.
This company formation in Gibraltar offer includes all services mentioned in the third option, plus:
Looking for a quality information & practical guidance regarding how to start your own offshore business in Gibraltar, how to set-up your Gibraltar tax-free company and running, how to select the best type of an Gibraltar business corporate form, how to register a Gibraltar private non-resident company; and need a small Gibraltar business start-up advice? Need an offshore Gibraltar company limited by shares formations agent with the prompt service and expert advice? Are you looking to set-up a commercial offshore trading company in Gibraltar? Have an idea for an offshore business and want to register or incorporate a limited company in Gibraltar now?
On Coddan web-site, you can get information on choosing and registering the right legal Gibraltar legal business structure for your business, legal tips on day-to-day Gibraltar business operations, and much more. If you have an idea for starting a business in Gibraltar, we can assist you and provide a higher standard of support for starting-up an offshore business and registering a non-resident company in Gibraltar online directly from the ground up. The better the Gibraltar company's structure is prepared upon online registration, the better the results that will be achieved later. It is our job to assist in evaluating the options available at the beginning. In addition, we offer services regarding the formation, incorporation, registration, and start-up of companies in Gibraltar. Register your new inexpensive non-resident company in Gibraltar with us, and enjoy the full support of an excellent and fully trained team.
Coddan is the firm with many years experience in assisting clients with offshore business formations in Gibraltar, UK (England, Wales, and Scotland), Ireland (Republic of Ireland and Northern Ireland), and as well as with the incorporation of companies in USA (Delaware, New York, Florida, Nevada, etc), offering in most circumstances the online Gibraltar company incorporation. Our expert knowledge and extensive experience of setting-up of business and offshore companies' structures has made us possible to provide the professional, prompt, and efficient service.
Our team of consultants will be pleased to assist with your enquiries related to establishing and maintaining international business companies, tax-free limited liability companies, and partnerships or creating a complex offshore corporate legal structures. On our web-site, you will find a number of useful tips and information, downloadable documents, which may help you to learn what to take into consideration when deciding among public companies, private limited liability companies, non-resident companies, LLPs, limited partnerships, and other structures.
Our fully trained, experienced, and efficient staff can help you start your own business in Gibraltar without the hassling, time-consuming, and demanding aspects of paper work and red tape tangles. If you are seeking quality information and practical guidance to setting up and running your private limited company in Gibraltar, we can assist you and provide a higher standard of support and advice than any other offshore company formation agency. Our expert team of professionals and consultants can get your tax-free company registered online directly from the ground up.
We understand that every individual organization has its own unique set of resources and circumstances, which the offshore company structure needs to channel. The right company structure can make the difference between achieving good and great results. If you are caught up in the maze of deciding the right type of business, allow us to help you out. We can provide you with the necessary assistant to help you set up your dream project of Gibraltar private company limited by shares, a company limited by guarantee and having a share capital; a company limited by guarantee and not having a share capital, Gibraltar trusts (private trusts, express private trusts, resulting trust, constructive trust, implied trusts, charitable trusts, fixed trusts, discretionary trust) and Gibraltar ship management and maritime company in just couple of days.
We provide different incorporation packages with the different options depending on your business needs; each package offers the complete formation of a Gibraltar non-resident company, which is usually ready to commence trading within couple of days. Our Gibraltar companies incorporation packages offer the perfect results for those people who are taking the first step into the business or smaller companies whose budget won't stretch to bespoke business solutions, there are no dumbfounds and no hidden charges, - what you see is what you pay! We can also assist clients with the special needs or requirements, we could make a tailor made package that would suit your personal needs and wants. If you choose us as your Gibraltar offshore corporate service provider, you will almost immediately realise that our team of proficient advisors, is your own dedicated support team.
Gibraltar company registration documents submitted electronically, which allows us to offer you a time saving service and eliminate the necessity to complete the paper forms, sign them by your company officers, and certify by a solicitor or notary public.
We are a Gibraltar business formation and businesses administration firm offers a comprehensive range of starting business solutions, business corporate, legal, and corporate tax advice. Since 1993, we have developed an excellent international reputation for providing the highest quality solutions and advice for our clients.
In addition, although most of Gibraltar offshore professionals have conventionally worked on an hourly basis, our main target is selling the amount of high-grade products and first-rate services than high-cost time. Where the scope of the work can be adequately specified, we keenly encourage alternative fixed-fee arrangements, or an applicable percentage (as the simplest example: from the legally tax-reductions).
If you would like a personal face-to-face consultation and dedicated help with your offshore Gibraltar business start-up, call us on +44 (0) 207.935.5171, or 033 0808-0089 to discuss your requirements and make an appointment with one of our consultants. A consultant will contact you at a pre-arranged appointment time to discuss your individual circumstances, as well as your suggestions in relation to your offshore Gibraltar incorporation needs. Our project begins with a short meeting, where our advisors gather the information required to register an offshore company for each client. The result includes personal assistance with the offshore order form submission.
If you have questions about legal aspects of your Gibraltar company incorporation application, you should speak to one of our consultants. We are very happy to provide a practical support, we have a team of professional business advisers and consultants who can support you to strengthen and grow your offshore business. We can help if you need a qualified advice and guidance in any of the following areas:
You will not be left on your own once you have started up a Gibraltar limited company, we still are here to help you with any problems that you may face as you establish and grow your offshore business. Our advisers will answer any questions you may have and explain what you, or we, might do in your current circumstances. If necessary, you may return to us for further help as matters progress. Our team of full-time professional business advisers can guide you through the essential steps to launching your own business in Gibraltar. Please, take a note that we can have meetings with current of positional customers by appointment only.
If you do not need to get an advice or guidance how to register a company in Gibraltar, you may simply place an order online with automatic e-mail confirmation, status updates, and e-mail notifications of filing status changes. Areas of our practice:
We can guarantee accurate, confidential, personalised, and reliable services at highly competitive prices; we are a customer-oriented company, we value our consumers and offer comprehensive services to every one of them. We are fully aware of our client's needs and desires and try to make the process of our teamwork as comfortable as possible.
We can incorporate offshore company within few days may help you with the opening of the corporate bank account operated by an offshore or UK banks. This is exactly what you will get if you choose to incorporate with Coddan. We are the real company, not a dot.co.uk or a bargain-basement internet company, our offshore knowledge base and practical with thousands of registered companies, offshore trusts, and partnerships has shown us that many new business owners want the fastest and easiest route to get their new business started.
As you endeavour to manage the growth and overall success of your offshore business, you will want to have a team of adviser with the focus on providing advice from start-ups to mature business issues to clients throughout the region. Coddan provides clients with continuing business advisory services and has specialists who understand the pressures facing small businesses. Experienced business consultants ensure clients get practical and adventitious advice.
Coddan' team supplies a wide variety of hands on business help that is personalised to your requirements and extremely useful. Our services are earmarked to meet the needs of business entrepreneurs, with a solid reputation in delivering bespoke solutions to small and medium-size businesses there is no better team of advisers to have on your side.
Our organisation specialises in the intricate field of a Gibraltar limited company's formation, incorporation of Gibraltar business structures and their management in eighteen low-tax or zero-tax countries. Furthermore, our consultants are competent to advice how to select the best type of business for incorporation, and register your general trading, shipping, or holding company. We may assist to register a Gibraltar property management, or intellectual property management companies. Our local lawyers and accountants are the best in their field, carefully selected for their professional ability, reliability, and integrity. Therefore, there is no need for you to spend hour after hour mastering the main regulating law, scaling bulk of paperwork or trying to recruit people that you can trust - we have already done that for you!
Coddan is a professional company which has been servicing the UK and international community with a diverse range of top quality of Gibraltar offshore corporate structures incorporation and management services for many years. We incorporate Gibraltar companies, partnerships, joint-venture entities, and trusts. We provide the first-rate business support services (Gibraltar corporate and private bank accounts, business and tax planning, reviewing and updating company' constitutional documents, preparation minutes of meetings and directors or/and shareholders resolutions, etc.).
We do not hide any fees from our consumers, because price transparency is essential to us. Our service' fees and offshore business filings fees are provided to our customers upfront. Our online filing makes the ordering and incorporating processes easy and convenient, Coddan is an industry leader in online Gibraltar business incorporation and documents processing. With our passion for service and client success, we strive to make Coddan the preferred choice of the small business start-up and new business registration facilities market. We are able to offer a full range of business registration services to business starters or existent business owners; we can undertake most types of corporate management related work.
Call us and speak with one of our knowledgeable advisor. There is no cost or obligation, let us help you to start a new business in Gibraltar. We will be pleased to discuss your plans, requirements and suggestions, and to help you understand how the incorporation process works. Our service is open to everybody. We give advice in a non-judgemental way.
Please take the note, that the initial or further consultation fee for incorporation of an offshore company is not included in the price of our offshore companies formation packages. Coddan is happy to help you find answers to any general question you may have regarding the offshore companies formation. We ask that you send your initial inquiries via e-mail if you have a specific question. However, generally, a large volume of e-mail's or phone calls does impede us from completing work for our existing clients.
You will generally get the most value from our communications if, before e-mailing or calling, you review the information on our website carefully towards answering your question(s). Many of your basic questions can be efficiently answered by searching our website using the search on the left toolbar, and by the LiveChat. After getting your basic questions answered through our website, you will have enough time to ask us more detailed questions, possibly more relevant to your unique situation.
Coddan promptly responds to e-mails regarding the firm's current lead-time and ability to accept new clients. Although we make every attempt to provide free information online to answer all your questions about most common situations, you may have more detailed questions.
Due to our high-volume practice, before contacting us by phone, it is less burdensome on our workload if you e-mail us your question(s). Generally, we will respond to your e-mail questions in a timely manner; however at times, our heavy caseload may delay our response time somewhat. The vast majority of the time, the combination of our free online information and e-mail response will efficiently answer your questions. If the combination of our online resources and e-mail or LiveChat interaction are not efficient towards answering your questions and/or resolving any concerns, and if the cost of the services you are interested will be at least £125.00, then we will setup a time that a Coddan offshore business practitioner will be available for a meeting to quickly resolve your general questions.
If this informational call is less than 10 minutes long, then there is no charge for our time. Thereafter, if your questions have not been resolved, then you may want to arrange an initial consultation with a Coddan offshore business practitioner who can evaluate your unique situation in more detail.
The cost of our initial consultation depends on the category of service you seek. Our services can be grouped into are two general categories, each having its respective consultation costs as follows:
Once we understand the nature of your project and your needs, we will be glad to give you a fixed fee proposal. If a written report is required, there is an additional fee of £125.00 to £250.00.
Companies require ongoing maintenance and must meet certain local reporting and statutory requirements, although these are generally less rigorous for offshore companies, they still exist. There are additional difficulties for those who do not have a relationship with Gibraltar jurisdiction and are uninitiated to the law and practicalities of an offshore location.
In addition to providing Gibraltar company formations online, Coddan offers a host of services designed to support your business. This comprehensive list of services includes:
Coddan helps you set up all major offshore structures such as companies, trusts, bank accounts, giving you full freedom, security confidentiality within the legal framework. We cater to the needs of both individual & professional clients all across the globe. We can help you with:
Coddan holds a portfolio of Gibraltar ready-made offshore companies which are all ready to trade and can be transferred to you within hours. We have companies ranging from a few months old, to six years old.
Our Gibraltar ready made companies are formed with general commercial objectives; they are therefore able to conduct any nature of business. We also offer substantial advice to help you efficiently merge and organise your ready made company.
A Gibraltar ready-made company is a private company limited byshares that has already been incorporated as a general commercial company and is ready to start trading immediately. A shelf company, also called an aged company, is a company that has had no business activity. It was created and put on our "shelf company to age". This company is then later usually sold to someone who would prefer to have an aged firm rather than a new one.
Our readymade Gibraltar off-the-shelf companies come with the widely drawn memorandum and articles of association, and a certificate of incorporation. Our shelf companies are currently registered with a nominee director, a nominee shareholder, with a registered office address and with a registered agent. We can re-register Gibraltar shelf company with the details of your own director, and shareholder free of charge; or, if you prefer, we can continue to provide our nominee director and nominee shareholder services for the ready-made company at an additional fixed annual charge.
Gibraltar ready made companies are always more expensive than the newly registered business legal entities. In some cases, an off-the-shelf company's price can be several times higher then the price of a recently incorporated Gibraltar company. This is because each year that Gibraltar ready-made company needs to file annual returns; annual accounts and pays all necessary existence fees.
A ready-made firm will be beneficial if an already registered company is required immediately, for instance if a company registration number is needed straightaway in order to sign a key or critical agreement or a contract. Based on our observations, here are some common reasons for buying an already established shelf company include:
A number of consortia "produce" and Gibraltar already established companies, promoting the fact that the new buyer can at the same time have a firm with a long history, and yet have complete control over the establishment of the company's board of directors and shareholder profile.
When you are buying a ready-made company from us, you will receive the following documents:
An excellent hub for the establishment of international business in areas as diverse as financial services, trading and e-commerce, light manufacturing, shipping, property development and tourism. Distribute competitively priced VAT-free products and services to the markets of the EU, USA and Africa.
Invest or conduct business in a low-tax jurisdiction with a profit-oriented capital base at low levels of corporate tax, all in a stable currency - £ Gibraltar Sterling GIP - with few restrictions in moving capital or repatriating dividends. A legal system modeled on the English structure contributes to making Gibraltar the highly regulated, globally acclaimed jurisdiction it is today.
A variety of interesting fiscal products ranging from lucrative funds' development and administration to customised financial solutions such as international tax planning strategies, along with monthly tax-free registered debentures - stable bonds with an attractive non-taxable fixed rate. A high-quality environment for corporate accommodation as well as modern services and workspace for manufacturing and distribution; together with an effective, modern communications infrastructure. The necessary business support services are also available on site.
Stable political and economic environment already appreciated by established investors and customers. Benefits from membership of the EU including access to the EU financial services' market.
Enhanced, weather-protected port facilities outside of the European Customs Union make Gibraltar ideal for cruise liners and cargo handling, logistics Gibraltar is one of the world's leading banking centers. An international airport with scheduled flights to the United Kingdom, along with proximity to Spanish regional airports at Malaga, Seville and Jerez.
One of Europe's most advanced fibre-optic telecommunications networks, providing quality solutions for business requirements. Multi-skilled, suitably qualified workforce with training assistance to update skills in accordance with the investments opportunities that arise.
A harmonious, multicultural and English-speaking environment, (as favoured by most international businesses), providing pivotal access to regional markets in Mediterranean Europe and North Africa. The majority of people in Gibraltar are at least bilingual.
Gibraltar law allows for the formation of many types of business entity, such as: private companies limited by shares, private companies limited by guarantee, exempt private companies, public companies limited by shares, non-resident companies, Gibraltar branches of foreign companies, general partnerships, limited partnerships, sole proprietorship, foundations and trusts.
Although the above types of business entity can be formed in Gibraltar, the non-resident company is the one most suitable and effective for offshore purposes as it is not subject to any corporation tax in Gibraltar on income earned or remitted outside of Gibraltar.
Partnerships are essentially agreements between two or more people that are setting up in business together and, therefore, jointly contribute finance, time and skills to the venture. Partnerships may trade under the names of the partners or under a business name.
The rights and obligations of the partners are set out in a specifically prepared Deed of Partnership or in the absence of such documents, under the Partnership Principal Act 1895.
For all intents and purposes, a partnership is an amalgamation of sole traders and the same advantages and disadvantages broadly apply as a sole trader. It must be noted that claims against one partner can result in a claim against the other(s).
In accordance with the Companies Act 1930, companies requires to be incorporated in Gibraltar as:
A limited company may own assets, enter into contract, borrow and lend money, sue and be sued in its own name. Ultimately, the legal personality of the limited company is separated from its individual shareholders (owners). Nonetheless, please note that it is sometimes common practice for banks and landlords to seek personal guarantees from the directors, making them personally liable for obligations should the business fail.
The liabilities of a company are distinct from those of its shareholders. The company is liable for its debts to the full extent of its assets. However, this liability does not extend to the personal assets of its shareholders. Moreover, a company has the "perpetual existence". Therefore, ownership can pass at any time through the transfer of the shares and it is an ideal vehicle for expansion.
Additionally, setting up a holding company is becoming an increasingly popular option for those savvy business people that take advantage of the fact that Gibraltar has no capital gains taxes or exchange controls. Such advantages can include the untaxed profits from the successful sale of assets such as property. A holding company or parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors.
Strictly speaking, the term "holding company" might be used to describe any company that owns a majority of shares in another company. Usually though, the term refers to a company that does not produce goods or services itself, but, rather, whose only purpose is owning shares of other companies (or owning other companies outright). Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of different companies.
In common law legal systems, a trust is a relationship in which a person or entity (the trustee) holds legal title to certain property (the trust property or trust corpus), but is bound by a fiduciary duty to exercise that legal control for the benefit of one or more individuals or organisations (the beneficiary), who hold "beneficial" or "equitable" title. The trust is governed by the terms of the (usually) written trust agreement and local law. The entity (one or more individuals, a partnership, or a corporation) that creates the trust is called the settlor (in other jurisdictions: the trustor, grantor, donor or creator).
The common benefits that trust arrangements offer include providing personal and financial safeguards for family and other beneficiaries, postponing or avoiding unnecessary taxes, establishing a means of controlling or administering property as well as meeting other social or commercial goals.
In certain circumstances, the income received by a trust or beneficiary under a trust may be exempted from paying income tax in Gibraltar. The Trustee Act is the main legislation governing trusts in Gibraltar. Such trusts are particularly attractive to a non-resident in Gibraltar because there is no estate duty, inheritance tax, capital gains tax, wealth tax or gift tax applicable in Gibraltar. Furthermore, no stamp duty is payable on the transfer of any assets (other than on real estate situated in Gibraltar) held by such a trust.
Non-profit making organisations are also known as not for profit organisations. It is the name given to a legal entity that does not accrue money for profit or personal gain. Examples of such organisations include:
A non-profit making organisation can be a trust, company or even an unincorporated association, as is the case with a registered charity. In Gibraltar, a charity is registered with the Charity Commissioner at the Supreme Court. One of the advantages of registering as a charitable organisation include that you are exempt from paying certain taxes once you are a certified entity. It is likewise possible to set up a charity as a vehicle that not only creates awareness of your causes but also as a way that can fund your operations. Trusts or bodies established partly for charitable purposes are sometimes considered as, or treated as, charities.
Non-resident companies in Gibraltar take the form of a private company limited by shares. A non-resident company is defined as a company which is incorporated in Gibraltar, and which is owned by non-residents of Gibraltar, and which is managed and controlled by directors who reside, and hold all board meetings, outside of Gibraltar.
A qualifying non-resident company is only subject to corporation tax in Gibraltar for income derived from or remitted in Gibraltar. There are some cases where a non-resident company will be exempt from tax on income generated within Gibraltar, for example: income from the ownership, chartering, or operation of any ship, and interest income from bank deposits and tax exempt Government bonds.
Beside an annual registration tax of between £150.00 and £300.00, and a 0.5% duty charged on the authorised share capital, no other company tax applies in Gibraltar to non-resident companies.
The statutory requirements for a non-resident company in Gibraltar are as follows:
It is important to note that a non-resident company in Gibraltar must disclose its capital structure and the details of its shareholders, and that this information is held on the public record. If you do not wish the beneficial shareholder's details to be available to the public, you can use the nominee shareholder service that we provide.
All companies must submit an annual return to the local authorities whether or not the company has traded. If a company has conducted no business, business including however the activation of a company bank account, no duty, or general tax liability will exist. Non-resident companies must submit accounts but have no Gibraltar tax liability. Small companies (if they do not do business inside Gibraltar) do not have to appoint an auditor and have no obligation to submit audited reports.
Access and manage Gibraltar business accounts anywhere anytime without leaving your home or office. All Gibraltar banks with whom we work provide you with a complete solution to real time Internet banking in a highly effective and secured environment.
Control your business finances, access real time account information, pay bills online, increase efficiency and lower operating costs with minimal risks and complications. Take full advantage of your investment in technology.
An offshore Gibraltar bank accounts enable Gibraltar companies owners to manage their finances wherever they are in the world. These accounts are tax-free and not subject to currency controls. Accounts are available to both personal and corporate clients in US Dollars, Canadian Dollars, Pounds and Euros.
Most of Gibraltar offshore banks provide a full range of banking services including:
A trade mark is a name or symbol used to identify the goods or services produced by a particular manufacturer or distributed by a particular dealer, to distinguish them from products associated with competing manufactures or dealers. The Registrar of Trade Marks in Gibraltar shall keep a register of trade marks, which shall be open to inspection at all hours during which the Registrar’s office is open to the public.
The Registrar of Trade Marks deals with the registration of trade marks under the Trade Marks Act and the Trade Mark Rules. This legislation has not however been updated for many years. In this particular field this is problematic due to the international nature of trade marks and trade mark registrations. Gibraltar is not a place where originating applications can be made. Indeed on a strict interpretation of section 3 of the Trade Marks Act the only trade marks that can be extended to have effect in Gibraltar by registration are trade marks registered in the UK under the Trade Marks Act. This of course covers national registration in the UK.
If you like to register a trademark in Gibraltar, please submit your inquiry by e-mail to firstname.lastname@example.org, with the subject: "Gibraltar Trade Mark Registration" or by post: Attn: Coddan Ltd, Corporate Division, 120 Baker Street, London, W1U 6TU, or by fax: + 44 (0) 207.681.3318. Upon receiving the information, you will be contacted by one of the business consultant to discuss your needs.
What follows is additional information pertaining to business in Gibraltar, some of which is of historical interest, which is organised under the following headings:
Gibraltar is a self-governing, but dependent, territory of the United Kingdom, and entered the European Union along with the United Kingdom. It does not belong to the European Union's VAT, CAP, or common external tariff regimes. However, Gibraltar has implemented much European Union financial legislation and can apply Common European Passport regulations in the insurance, banking and fund management spheres. In practice there are sometimes difficulties connected with the long-running row between the United Kingdom and Spain over Gibraltar's status.
At a meeting in Barcelona in November boycotted by Gibraltar, British and Spanish Foreign Ministers agreed on a fast timetable for developing new sovereignty proposals. But by mid-2002 Jack Straw and Ana Palacio, the newly appointed Spanish foreign minister, were battling to save the talks from collapse. Each side has a non-negotiable position which is unacceptable to the other: for the Spanish it is the need for them to give up their long-term aspiration to regain full sovereignty over Gibraltar; and for the British it is the need to accept some degree of Spanish control over their military base on Gibraltar.
The official language is English but Spanish is widely used. The British military and naval base once dominated Gibraltar's economy but no longer does so, leaving behind a highly educated population with high unemployment. The excellent port facilities have not yet been fully re-utilised. Tourism has become a major contributor to the economy, particularly visits by cruise ships. The airport connects with the United Kingdom and some other destinations, but it is necessary to cross into Spain for wider connections. Gibraltar was one of the first of the British dependent territories to develop tax-exempt corporate forms for offshore business. It has quite high internal income taxes, but offers low-tax regimes to both companies and individuals, as well as incentives for incoming investment. It is probably the cheapest European offshore jurisdiction in which to operate but is smaller than many of its rivals.
There is a sophisticated business and professional infrastructure. Business sectors with offshore activity include banking, insurance, investment fund management, trust management, shipping, and investment holding companies. Lately there has been an influx of United Kingdom betting and gaming operations fleeing high taxes and using the very good telecommunications facilities to offer Internet betting services. It seems likely that Gibraltar will be one of the most attractive offshore locations for e-commerce business aimed at the European Union market. Gibraltar's situation within the European Union is unique. On the one hand, its legislative endeavours would seem to have established it as a very cost- and tax-effective base for European trading and financial operations, and unlike some European IOFCs it is not overcrowded; on the other hand, it is vulnerable to pressure from the United Kingdom and the European Union.
In Gibraltar there is no capital gains tax, sales tax or VAT. The main tax for companies is corporation tax, and there are withholding taxes; there are also stamp duties on certain transactions, and property taxes ('rates'). Assessment and collection of tax is administered by the Commissioner of Income Tax; the tax year runs from 1st July to the following 30th June. In July 2002 Gibraltar's Chief Minister, Peter Caruana announced a new corporate taxation policy setting a zero rate of corporation tax for all companies but introducing new taxes on company personnel and property occupation which will be capped at 15% of profits.
The existing corporate forms which allowed zero taxation, the exempt and qualifying companies, will be abolished, although there is no news yet about the possible grandfathering of existing companies. Reform has been forced on Gibraltar by its commitment to transparency under the Organisation for Economic Co-operation and Development's harmful tax initiative (ending 'ring-fencing') and even more by the European Union's State Aid rules, which the Commission has begun to use to attack practices listed by the Code of Conduct Committee chaired by Britain's Dawn Primarolo - these included Exempt and Qualifying companies. In fact, Gibraltar had halted the Commission's action in its tracks at the European Court of Justice on a technicality, but has evidently accepted that sooner or later the overtly 'offshore' corporate forms would have to go.
The new taxes, which came into force from 1st January 2003, are: -
A "Company Payroll Tax" (similar to what exists in Bermuda and elsewhere) will be introduced in respect of employees in Gibraltar. This will be charged at a sum per annum per employee. This payroll tax is a tax on the company and is payable by the company only. A new Business Property Occupation Tax will be introduced in respect of property occupied in Gibraltar by companies for business purposes. In addition, all companies will pay an annual companies registration fee of £300.00 p.a. (if the company has income) or £150.00 (if the company has no income) inclusive of current annual return fees.
In addition, and subject to European Union clearance, two sectors of the economy only will pay a new tax on profit. The sectors are financial services providers and utility companies. The intended rate of profits tax for financial services providers is 8%, and will be subject, aggregated to the other taxes, to a maximum cap of 15% of profit. Since the taxes are capped at 15%, local companies which currently pay 20% or 35% profits tax will be better off, while 'offshore' companies will be worse off only if they employ staff or occupy premises locally. Many companies, particularly those used to hold Spanish property interests, do neither.
In March, 2003, the European Union's Council of Finance Ministers confirmed that the reforms do not constitute harmful tax measures. Nevertheless, there is still one hurdle to overcome in the form of the European Commission who must make a ruling on the tax reforms according to the State Aid criteria. Spain is attempting to influence this process to Gibraltar's disadvantage. However, the government's European legal advisers, and the United Kingdom government are of the firm view that the scheme complies with State Aid rules. The remainder of this section deals with the existing tax system that applies to the year 2002.
Corporation (income) tax is levied under the Companies (Taxation and Concessions) Ordinance. Ordinarily resident companies pay income tax on their worldwide income. As applied to a company, 'ordinarily resident' means: a company the management and control of whose business is exercised in Gibraltar; or a company which carries on business in Gibraltar and the management and control of which is exercised outside Gibraltar by persons ordinarily resident there within the meaning of the Ordinance; or in the case of an investment company (i.e. whose income mainly arises other than from the gains or profits derived from any trade, business or employment), which is domiciled anywhere outside Gibraltar, where control of the company, through shares or voting powers, is exercised by persons ordinarily resident in Gibraltar.
The assessment and collection of income tax is governed by the Income Tax Act and by subsequent amendments by Rules and Regulations. The Act was enacted in 1952 and came into effect on 1 April 1953. Income tax is charged on income accruing in, derived from or received in Gibraltar by any person or company. Dividends, pensions and emoluments of office accruing in, derived from or received in any place other than Gibraltar by an ordinarily resident person are also taxable in Gibraltar. When taxed in the country of accrual and not received in Gibraltar such income is exempt. Income arising outside Gibraltar, which although not actually received or transferred, is obtained in Gibraltar by the taxpayer in the form of an equivalent benefit, is treated as having been received in Gibraltar.
Income tax is charged for the year of assessment - running from the 1 July in one calendar year to 30 June in the next - on the basis of the income of the preceding year except for income from employment or pension which is charged on the basis of the income for that year. The taxpayer's aggregate income, other than exempt income, is the "assessable income" and the "taxable income" is the assessable income, as reduced where appropriate in the case of an individual by the allowances described hereafter.
The rate of corporation tax is 22%.
With effect from 1 January 2011 a new rate of 10% will apply to all companies except energy and utility providers who will pay a 10% surcharge and will thus suffer a rate of 20%. These will include electricity, fuel, telephone service and water providers.
A start up rate of 10% will apply to all businesses established in Gibraltar after the 1st July 2009. Tax will be assessed on an actual year basis.
However, businesses that have recently been established are also able to take advantage of the start up scheme if they meet the following conditions:
Small companies whose taxable profits do not exceed £35,000 are charged at the lower rate of 20%. If their profits fall between £35,000 and £44,333 corporation tax will be charged at 22% less relief of 3/40 on the difference between £44,333, and the amount of taxable profits.
The definition of a "small company" is a company whose trading activities has a minimum of 80% of its trading receipts derived directly or indirectly from sources other than:
The following income is not chargeable to tax:
(i) Interest paid directly or indirectly arising from investments quoted on a recognised stock exchange, including debenture stock, bonds, certificates of deposit and any other instruments creating or acknowledging indebtedness including bills of exchange accepted by a banker and issued by or on behalf of a government, a local or public authority; or
(ii) Interest paid by banks, building societies or other financial institutions licensed in Gibraltar or in any other jurisdiction to undertake deposit taking or investment business; or
(iii) interest paid by the Gibraltar Savings bank.
A company is required to deduct tax at source from any mortgage or debenture interest, or interest on any loan advanced to the company for a capital purpose, paid to any person. Such interest attracts a withholding tax of 30% if paid to an individual and 22% if paid to a company and shall be available for set off against any tax that may be charged on that income.
There are no special rules applying generally to the foreign or Gibraltar employees of offshore operations, who will pay tax according to the normal rules if they are resident in Gibraltar; however there are some special arrangements for expatriate executives and other workers with specialist skills. Subject to various conditions, such an individual who works for an exempt or qualifying company can apply to the Financial and Development Secretary for a certificate which limits their annual tax bill to G£10,000, regardless of income. A qualifying individual is known as a Category 3 Individual.
High net-worth individuals are permitted to hold shares in an exempt company or a qualifying company, and to hold deposits in Gibraltar banks; income from these sources is only taxable (for the company) if paid to the high net worth individual for their own use in Gibraltar.
There are no special privileges for the employees of non-resident or offshore entities in Gibraltar, but see above for the rules regarding high net-worth individuals and expatriate executives. For taxation purposes, an individual is either resident or non-resident, and nationality is not a factor in determining tax status. An individual is considered resident in Gibraltar if he resides there for more than 183 days in any one tax year (1st July to 30th June in the following year).
A non-resident individual will be taxed on income derived from, accrued in or received in Gibraltar; however payments from exempt or qualifying companies are tax-exempt, as is bank interest. Withholding taxes will be charged on payments from other Gibraltar companies, at 30% for an individual. Property bought by a non-resident may be owned by an individual applicant or joint applicants, or alternatively, in the name of a company of which the applicant is the 100 per cent beneficial owner and over which he/she has full and effective control.
In fact there are tax advantages if the property is purchased through a Gibraltar company. It is not essential that the property be purchased prior to approval of an application. However, the property to be purchased must be stated before an agreement will be entered into between the applicant and the vendor of the property so that on payment of a refundable deposit the property would be reserved for the applicant until the application is considered by the Government.
Once the application is approved the applicant, on completion of the purchase of the property, will obtain a permit of residence.
A permit is renewable after a specified term providing the requirements are met and the property is owned by the applicant. The holder of a residence permit need not live in Gibraltar and is not automatically entitled to social security or citizenship. However, the resident's children may attend local schools and are entitled to the same benefits as other local residents. If a non-European Union national wishes to stay in Gibraltar other than through the property 'doorway', he must try to find employment, for which he will receive a work permit only if there are no Gibraltar able and willing to perform it.
Such individuals will be given residence permits for shorter or longer periods depending on the nature of the work for which they have a permit. The government can deny a non-European Union national the possibility of buying residential property. Non-residents need work permits, issued under the Control of Employment Ordinance. A work permit cannot be refused to a European Union national.
Under the Companies Ordinance 1930 all incorporated companies in Gibraltar are required to prepare accounts and have them audited by independent accountants. Auditors, who are individuals, are appointed by the directors of a company, must be independent of the company, and must be registered under the Auditors Registration Ordinance.
NB. A report has been published by the 'Primarolo' Code of Conduct Committee detailing countries it considered guilty of harmful tax practices. In its list of 'Measures with Harmful Features' the Committee included three types of Gibraltar companies: Gibraltar A017: Gibraltar 1992 Companies. Gibraltar B012: Exempt (offshore) Companies and Captive Insurance. Gibraltar B013: Qualifying (offshore) Companies and Captive Insurance.
The European Commission announced in 2001 that it would begin a review of Gibraltar's exempt and qualifying company regimes, but after Gibraltar sued the Commission to prevent the review, the European Court of Justice ruled in Gibraltar's favour in April 2002. However, in July, 2002, Gibraltar's Chief Minister, Peter Caruana announced the territory's new corporate taxation policy to be applied from July, 2003, which includes the abolition of the existing corporate forms which allowed zero taxation, the Exempt and Qualifying companies, although there is no news yet about the possible grandfathering of existing companies.
Gibraltar Limited Companies are incorporated under the Gibraltar Companies Ordinance 1930 which is based on the English Companies Act 1929. The basic rules are as follows: a private company limited by shares is required to have at least two members, who can be individuals or companies; one shareholder can be a nominee company holding a share on trust for the other shareholder; the maximum number of members is 50; the memorandum and articles of incorporation state that the company is private, restrict the transfer of shares, and prohibit public offerings of the shares.
Annual returns must be made to the Registrar, and details of the shareholders and capital structure are held on the public files. Only one director is required; secretaries are not mandatory, and they may be corporate. There must be a registered office in Gibraltar where the statutory books are kept. There is no requirement for accounts to be filed; tax-resident companies however have to submit accounts to the tax authorities.
The company limited by guarantee, and its sibling, the company limited by guarantee and having shares, have the nature of mutual companies, and as such have normally been used essentially for charitable and non-profit purposes. Lately they have come to be used sometimes for private family foundations in place of discretionary trusts. In addition, they have been used for proprietary and members' clubs in the international leisure and time share resort industry, where they meet all the requirements of modern European Union (and Spanish) law.
Confidentiality in Gibraltar is taken extremely seriously and the beneficial ownership of all Gibraltar Companies is not disclosed. The identity of the Beneficiaries must, under Gibraltar Law, be kept strictly confidential by all persons and officials concerned with the Company or its management. However, the Supreme Court of Gibraltar can make an order requiring any such person to make any disclosure as to this where it is suspected that the company is involved in any serious criminal activity.
To incorporate a company first of all a name has to be chosen. Our firm always has several shelf companies available, which have already been incorporated from which one can be chosen. Alternatively, you can suggest a name and this can be checked at the Company Registry and approved in less than 24 hours sometimes even within minutes. It is not necessary to physically come to Gibraltar to incorporate a company.
The service our firm provides is fast and efficient with incorporation and the preparation of supporting documents taking no more than a week. Where a company is required urgently it is possible to have everything ready within 48 hours and shelf companies can be supplied immediately. Our firm and the Company Registry have highly qualified personnel who deal with all matters in a professional and efficient manner. The costs are extremely competitive in comparison to other jurisdictions.
A Gibraltar company can generally have from 1 to 50 shareholders and there are no restrictions as to their nationalities or their place of residence. A Gibraltar company can have a sole director and there are also no restrictions as to residence or nationality. Gibraltar nominee shareholders are allowed and protect the identity of owners. The shares of the companies are ordinarily held by our firm's nominee company which will appear on the records of the Company Registry as the registered shareholder. Coddan then issues the beneficiaries (owners) with Declarations of Trust (private documents which are not filed in the Company Registry) which say that the benefit of the shares belongs to the beneficiaries and this document is indisputable proof of this.
The idea is that the beneficiaries of the company should not be ascertainable from simply looking at the records filed with the Company Registry. The feneficiaries are also given undated share transfer forms signed by us and if they wish to transfer the shares into their names all they need do is sign and date the document and file it at the Gibraltar Company Registry.
Letters can be drawn in which the beneficial owners give Coddan their instructions as to who to transfer the beneficial interests in the event of their death. This avoids the need for the beneficiaries to make a will disposing of their beneficial interest in the shares.
Among the many uses of non-resident companies in Gibraltar are: to establish securities trading accounts in the United Kingdom, United States, Canada and Europe, either directly or through Gibraltar intermediaries. To hold title to real estate in jurisdictions other than Gibraltar, to collect commissions, royalties or dividends or to re-invoice trade transactions.
An IBC can be used for a wide range of applications, such as: -
Estate and Financial Planning. Gibraltar companies are widely used in estate and financial planning - particularly in conjunction with foreign trusts - as vehicles to hold assets to replace individual personal ownership.
International Trading. Traditionally, this has been the most popular use for a Gibraltar company. By establishing an offshore company to purchase goods from one country and then sell them to another country, the profits from the transaction can be held in the offshore company in a completely tax-fee free environment. The goods, however, are typically shipped directly from the country of origin to the destination country. A Gibraltar company can also be used to achieve economies of scale and reduced administrative costs by combining the purchasing activities of a group of related or unrelated companies.
Significant tax exemptions and deferrals are available from some countries to companies that perform export sales through offshore countries: e.g. the US offers the Foreign Sales Corporation tax exemption for US exporters who conform to those regulations.
Investment Holdings and Share Ownership. Gibraltar companies are often used effectively by individuals and corporations alike as vehicles for the management of investment funds. Gibraltar companies can maintain brokerage accounts and hold stocks, bonds, cash and a wide variety of investment products and offer the individual investor a high degree of anonymity. As a foreign corporation, a non-resident company will usually be treated differently to a resident individual or company and can therefore achieve significant tax savings and accumulate all profits in a tax-free environment. Corporations with worldwide interests face a range of fiscal regimes, exchange controls, currency and political risks, and accounting policies.
Ship and Property Ownership. Gibraltar companies can be used to own ships and organise shipping operations thereby enabling ship owners and operators to reduce both direct and indirect taxes on their shipping operations and allow the increased profits to be accumulated for optimum growth in a tax-free environment. It is also possible to use an offshore company to hold real estate and other types of properties all over the world. Such companies are used as a means to avoid or reduce capital gains taxes, inheritance taxes and property transfer taxes, and the sale of such property can be achieved easily by transferring the shares in the company with significant reductions in the acquisition costs to be borne by the purchaser. For rental property, by properly structuring the financing through a back-to-back loan facility, an offshore company can be used to effectively control the level of any withholding taxes applied to any rental income.
Intellectual Property (Patents, Copyrights, Royalties). A Gibraltar company can be formed to be the international sub-licensee for important intellectual property rights such as patents, copyrights and royalties. This offshore company can then enter into sublicensing or franchise arrangements with companies around the world interested in the exploitation of such rights. The income will then accrue to the Gibraltar company in a tax-free environment.
Consultancy and Professional Services. Individuals who receive significant payments for their services (such as consultants, writers, designers, directors, composers, entertainers, engineers, designers, programmers, etc.) may contract themselves through a Gibraltar company that pays the individual an agreed upon fee. This is structured so as to minimise their tax liability and to invest the profits in a tax-free environment, thus generating optimum returns. Payments to the individual can then be structured in such a way to minimise personal income tax.
Treasury Management. A corporation with a number of foreign subsidiaries often needs a facility to balance various currency risks, capital flows and income variations resulting from inter-group operations. To establish such a facility in one's home country could have tax or legal consequences. Establishing an offshore Gibraltar treasury management company can serve to consolidate all of the various activities in one place and provide the flexibility to cope with different legal and fiscal regimes. In particular, the treasury management company can hold profits for the foreign subsidiaries, control the foreign exchange positions, and use accumulated cash positions for future investment in whichever location is deemed appropriate.
Leasing Services. Gibraltar companies can be used in a variety of situations to purchase capital equipment and then lease the equipment to a company in a high-tax country. In this way, it is possible to accumulate the funds offshore in a tax-free environment and the lease payment will typically be considered a deductible expense in the high-tax country.
Employment Services. Many organisations employ staff outside their home country. In doing so, they may encounter complications concerning such matters as exchange controls and taxation. The use of a Gibraltar company to employ the staff and pay their salaries can resolve such difficulties and reduce the costs associated with payroll, travel expenses and administration. This may also provide tax and social security benefits for the employees.
You can chat with one of our advisors right now. Just click on the image to the left to start chatting. Live Help is a real time chat feature which enables you to interact with our customer service representative without a phone call. Get answers to your questions while using our web-site. Clicking the "Live Help" button will start an online session with one of our representatives. Live Help is currently available during normal business hours. Outside of the indicated below opening hours, our Live Help centre will be closed, when you click on the chat button, you will see an e-mail form that allows you to send us an e-mail request with your questions. Our Live Help is free, there are no hidden fees.
Our hours of operation are posted on the contact page at all times. Telephone and Live Chat assistance is only available during business hours.
Monday - Friday: 9:30 a.m. to 18:00 p.m.
Saturday: offices are closed
Sunday: offices are closed
Holidays: offices are closed on all recognised UK holidays.
Dear customers, ladies and gentlemen, while having a chat session with our visitors, we are frequently requested to give an advice on tax planning or business structuring, and we would like to inform you that it is against our principles to provide an online free advice pertaining to these issues.
The points and tips that can be covered during a chat session include: our packages, services description and charges, legal requirements to start-up a business offshore, bank account arrangements, trademark registration, post incorporation services, notaries, consulate or apostille legalisation and other authentication services, documentation preparation and filing, mail forwarding overseas, telephone, fax and virtual office facilities, bookkeeping and accounting services, offshore incorporation service, ways to place an order, methods of payment etc.
If you wish us to provide you an advice or recommendations on tax savings and tax minimisation, or corporate business structuring methods, you should be aware that this service has chargeable elements.
Coddan accepts all major currencies; we accept Visa, Visa Electron, Visa Purchasing, JCB, MasterCard, Maestro, Solo, and Delta, we also accept cheques (may be held 10 days to clear), postal orders or cash deposit, and bank transfers from anywhere to our UK and USA bank accounts. After you place an order, details about the banking transfer will be e-mailed to you on the second e-mail notification. If you missed that e-mail, please call our phone number that is given on the order confirmation. The customer is responsible for the reimbursement of any bank wire transfer payments.
Our credit card payment processing is by WorldPay - an important part of The Royal Bank of Scotland Group, the 5th biggest banking group in the world. We do not charge surcharges for the debit and credit card transactions. Credit or debit card payment is now authorised online in real time. You will be informed immediately if your credit or debit card is declined. If declined, you may check the accuracy of the card number and expiration date, or choose a different card to try.
We need to receive a payment before we can proceed with a new company formation. For regular or corporate clients, we can open a professional credit account. However, this benefit cannot be provided to a new customer, who never placed orders with us.
If you do not feel comfortable transmitting your credit card details on the Internet, we suggest you place an order online, choose the option "Credit Card via the Phone" as the payment method, and then phone in to give us your credit card number over the phone. We will charge your credit card manually. We can also accept credit or debit card payments by fax, to do so, we will e-mail you a credit or debit card authorisation form, and you will need to print out the form, complete the details by hand and send it to us by fax to: + 44 (0) 207.681.3318.