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HOME / GIBRALTAR

GIBRALTAR

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Gibraltar IBC - All Inclusive Packages From - 1220 UK £ - 1765 - 1820 USD $

Legislation

The Gibraltar Companies Ordinance, is based on the Companies Act 1929 of the United Kingdom which has been amended and enhanced. The tax status for various types of Gibraltar companies is established primarily by the Gibraltar Companies (taxation and concessions) Ordinance of 1967. We recommend the Non-Resident Company as the most practical type to meet your needs for your offshore international business activities.

Structure

Non-resident corporations do not require more than one director

A director may be a natural person or a corporate entity

The minimum number of shareholders is one

A resident secretary is required and will be provided by us

There is a Public Register of Shares but Nominee Shareholders are usually used

We provide Nominee Services

Shares and Capital Requirements

Any major currency may be used for the capitalization of a Gibraltar offshore company; however the Gibraltar Pound which is of equal value with the British Pound, or the US Dollar is usually used.

There is no minimum Authorized Share Capital, though the standard is 2,000 British Pounds.

There is no limit or maximum capitalization. The capital duty is 0.5% of Authorized capital

Bearer Shares are permitted

A Public Register of Shares is a requirement and nominee shareholders are used in order to preserve the identity of the beneficial owners. We provide this service.

Taxation

Non-resident companies tax free on income derived from outside Gibraltar or earnings which are not remitted back to Gibraltar

Money held in a bank in Gibraltar by a non-resident company is taxable; it is advisable to have your bank account outside of Gibraltar

A fee of one half of one percent (0.5%) of Authorized Capital is payable at incorporation

There are no Information Exchange Treaties between Gibraltar and other countries.

Meetings/Books/Records

An Annual General Meeting of shareholders must be held once a year. This meeting may be held anywhere in the world

Director's meetings are not required

Government Register of Directors is held and maintained

A Government Register of Shareholders is maintained. Nominee Services ensure confidentiality of Beneficial Owner

Non-resident companies must have a registered office in Gibraltar where the statutory book of the company must be kept

Annual Accounts are to be filed using the following regulation:

Small companies are only required to file an abridged balance sheet. There is no need in this case to produce a profit and loss account or Auditors Report.

A small company must satisfy at least two (2) of the following conditions:

-      Net turnover must not exceed GBP 4.8 million.
-      Balance sheet total must not exceed GBP 2.4 million.
-      The average number of employees must not exceed 50 persons in a year

A medium sized company is required to file a Profit & Loss, Balance Sheet and an Auditor’s report but the information in the Profit & Loss account may be abridged (Limited detail).

A medium sized company must satisfy two of the following conditions

Net turnover must not exceed GBP 19.2 million

Balance Sheet total must not exceed GBP 9.6 million

The average number of employees must not exceed 250 persons in the year

A large company must file Profit & Loss Statements, Balance Sheet and an Auditor's Report. Accounts are not available to the public.

Confidentiality/Privacy

While the shareholder of the company is part of the public record, there is no requirement to disclose the identity of the Beneficial Owner of the Gibraltar Non-Resident Company through the use of the nominee shareholder. Secrecy is guaranteed by legislation. Confidentiality in Gibraltar is taken extremely seriously. Only by order of the Supreme Court on the suspicion that the company is involved in serious criminal activity, may the name of the Beneficial Owners be disclosed.

Time Frame

Gibraltar non resident companies are usually incorporated ten (10) working days.

Company documents are shipped via express mail and one to three days must be allowed for the package to arrive, depending on where the final destination is.

Annual renewals

Annual renewal fees which include the government fees, registered office and registered agent fees (also nominee director fees when applicable) are payable on the anniversary of the incorporation of the company. An invoice will be provided before to serve as a reminder.

Names

A non-resident company cannot use a name without special permission, which is identical or similar to an existing company; any name which is undesirable or offensive in the opinion of the Registrar, any name which suggests royal or government patronage, or which may imply an activity associated with the banking or finance industry e.g. "Association", "Bank", "Imperial", "Assurance", "Group", "International", "Royal" or "Trust".

The following words require special permission from the Gibraltar authorities to appear in a company name and such permission is close to impossible to obtain. We will not proceed with company names which have these sensitive words.

British, National, Gibraltar or Great Britain, Authority, board or council, Association, Federation or Society, Patent or Patentee, Chamber of Commerce, and/or Trade and/or Industry, Co-operative, Group Holding(s), Post office, Giro or Stock Exchange, Register or registered, Friendly Society or Industrial Provident Society, Trade Union, Charter or Chartered, Benevolent, Foundation or Fund, Chemist or Chemistry or Pharmaceutical, Police, Customs, Immigration, Foundation, School or University or College; Club, Authority, Council, Federation, Institute, Trust, and Investment Trust, Unit Trust, Bank, Directors, Financial, Savings, Commodities, Brokers, Credit, Nominee, Dire.


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