Gibraltar Offshore company formation

- GIBRALTAR
- POLITICAL CONDITIONS
- LEGAL ENVIRONMENT
- NON-RESIDENT COMPANY
- ADVANTAGES OF GIBRALTAR
- NAME FOR YOUR COMPANY
- REGISTRATION REQUIREMENTS
- REGISTRATION SET OF DOCUMENTS

GIBRALTAR

Gibraltar is a town & port on Rock of Gibraltar; a British colony since 1713 with an area of 2.5 sq mi (6.5 sq km), and a population of 30,000. Rock of Gibraltar is a headland on south coast of Spain at East End of Strait of Gibraltar, facing north coast of Africa. Gibraltar has advanced banking, legal, telecommunication and courier services. For all practical purposes the dominant currency is British Pound Sterling. There are two official languages – English and Spanish.
gibraltar offshore
POLITICAL CONDITIONS
gibraltar offshore company
Gibraltar is a full member of the European Union, as a dependent territory of the United Kingdom. It does not participate in the common tariff and agricultural policy, and does not levy Value Added Tax (VAT). It is a politically stable territory with superb commercial and professional infrastructure. Great Britain maintains responsibility for the defense and foreign affairs of Gibraltar. Local House of Assembly is in charge of all local matters, including company and tax laws and regulations. Spain still maintains territorial claims over Gibraltar; thanks to the UK any such claims may not be satisfied without free and democratic consent of the territory which is most unlikely to be forthcoming.

LEGAL ENVIRONMENT

Gibraltar is one of the oldest European offshore centers with the most complete selection of offshore products and services. Local legal system is based on British common law. The major source of corporate legislation is the United Kingdom Companies Act of 1929, and Companies Ordinance Act of 1984 (as amended).

NON-RESIDENT COMPANY

Non-resident company is a company that is incorporated in Gibraltar, and owned, managed, and controlled by non-residents. Board meetings should be hold outside of Gibraltar. A non-resident company is not subject to local corporate tax, except for the part of profits remitted over to Gibraltar. It means that those companies without local bank accounts may not be taxed. Non-resident companies pay neither annual duty nor other fees payable by local resident companies. Non-resident company though must maintain local registered office with a local corporate secretary. Nominee services are available for owners and directors. Annual report is required.

For a tax-exempt status an IBC has to meet the following requirements:

- does not employ local population;
- does not invest in local real estate (office leasing is allowed);
- satisfy local requirements for banking, trust and insurance businesses.

ADVANTAGES OF GIBRALTAR

- Non-resident companies are tax exempt; except for the part of profits
transferred over to Gibraltar.
- Only one shareholder and a director are sufficient for registration.
- Nominee services are available.
- Directors can be individuals as well as business entities.

NAME FOR YOUR COMPANY

You can give a name to your company. Certain restrictions apply. There are special requirements for names with the following words: "Association", "Bank", "Imperial", "Assurance", "Group", "International", "Royal", or "Trust" and any derivatives thereof.

REGISTRATION REQUIREMENTS

Description:	Requirement:
Applicable Law	Based on UK Companies Act 1929
Number of shareholders	One shareholder or more
Number of directors	One director or more
Non-resident directors	Non-residents can be directors
Corporate directors	Legal entities can be directors
Corporate secretary	Resident secretary is required
Authorized capital	Optional Usually 2000 Pounds
Paid up capital	Minimum 1 Pound
Bearer Shares	Not available
Registered agent	Required
Registered office	Required
Annual tax return	Required
Audit	Not required
Board of directors meetings	No restrictions on location
Publicly available information	Memorandum & Articles of Association, registered office and agent, annual income, directors and shareholders

REGISTRATION SET OF DOCUMENTS

Upon registration you will receive the following papers:

1."Memorandum & Articles of Association".
2."Certificate of Incorporation".
3."Minutes of the Board Meeting of Directors".
4.Not dated "Resignation Letters", from nominee directors.
5."Power of Attorney", issued to a real beneficiary.
6.Corporate seal.

Certificate of Good Standing (with names of Directors and Shareholders) is available upon request.