secure.adnxs.com secure.adnxs.com-1
BANK INTRODUCTIONS

GIVE US A CALL

Get A Free Consultation

We don’t like to tell you what to do with your money, so we will never recommend one bank over another. However, we work with a number of banks and E Money Issuers worldwide, and our experienced team can review your requirements and help to narrow down your options and introduce you to the bank you prefer. Ou.

 

 

bank #123
In addition to the AEOI, many international private banks are now refusing to take American clients or clients that have any dealings with America – this is causing a problem for businesses who have had good banking relationships for years, but now find themselves facing closure – all because of the US FATCA rulings.

Times are changing, almost daily, and getting bank approval is more and more difficult.

However, at Octopus, we pride ourselves on our ability to adapt, to find new banking solutions and to stay ahead of the game for our clients.

Our experienced File Managers, understand what the banks expect to see, by way of KYC documentation and hold our client’s hands throughout the application process. They have a one to one relationship with our clients, who prefer the single point of contact. This helps to keep the flow of information running smoothly, alleviating the stress for our clients wherever possible.

Our File Managers are also able to advise if a client’s business model does not tick the right boxes for the bank they may have chosen from our list of options – and offer alternatives.

With our clients input and our File Managers experience, the majority of applications go off to the banks within 24 hours of our team receiving everything back from the client. The banks response time then varies from bank to bank, but on average, an application that is detailed, low to average risk, and has all the required paperwork, is currently taking approx. 2 to 6 weeks for approval by the banks compliance teams…. Some faster than others.

bank #234

A varied selection of banking options

Octopus has a varied selection of banking options from Private Banking in Gibraltar to commercial banking in Mauritius, St. Vincent and the Grenadines, Panama, Cyprus, and Switzerland. We are constantly developing new relationships with international banks to offer our clients.

All of these banks offer multi-currency accounts, secure internet banking, telephone banking and of course a choice of cards to use around the world.

FAQ

What is Category 2 residency?

Category 2 is a tax regime for high-net-worth individuals who wish to reside in Gibraltar with £2 million of net assets (in any asset class). The assets must be valued by someone independently, usually an accountant or a lawyer. The benefit to this status is there is no minimum day residency requirement in Gibraltar however you need to ensure you do not become tax resident elsewhere.

The regime caps the tax of gross assessable income of £118,000 per annum which equates to a minimum tax liability of £37,000 and a maximum tax liability of £44,740 per year.

We can assist clients who wish to apply.

What is HEPSS Status?

This is a special tax regime for employees who move to Gibraltar that meet certain criteria whereby the skills are not readily available in Gibraltar. This is usually used for high end senior executives.
The HEPSS status is granted to an individual who is employed by a company. This may be an individual who sets up a company in Gibraltar with the intention of adding value to the local community.
Income for the individual is capped at £160,000 for tax purposes under the Gross-Based system.

What are the consequences if a company fails to submit a complete tax return, and what is the necessity of maintaining accounting records for Gibraltar companies?

If a company submits a late tax return by one day, there is a £50 fine. If the tax return is late by over 3 months, the fine is £350 and over 6 months, the fine is £850. The tax return must include a copy of the company accounts. There are penalties for late filing of accounts but these are lower than the tax returns.

How can Octopus assist in the incorporation and trading processes for Gibraltar resident companies?

Octopus can assist clients with the formation and ongoing management of the company. We guide the clients through all of the process and required filing deadlines to ensure the company remains in good standing.
We assist with application for business licenses, registration with the employment trading board and tax office. We can assist finding suitable office premises.

What distinguishes non-resident companies in Gibraltar, and how does Octopus simplify the setup process for them?

A non-resident company in Gibraltar is one that has no tax liability from income accrued or derived from Gibraltar. The filings still need to be made but are more simplified as zero returns.

What is the process of re-domiciling a company into Gibraltar, and how does Octopus provide cost-effective solutions for clients?

To re-domicile a company, the client will need to check if the current registry allows re-domiciliation. For example, in the UK, you cannot redomicile a company in or out. There are two processes to redomiciling a company: The transfer out from the registry in one country to the transfer in, in the new country. We assist with re-domiciliation’s in and out of Gibraltar.

Reach Us

Either telephone us or email for a chat about the offshore incorporation services we can assist you with.

Find Us

Suite 4.3.02 Eurotowers, Gibraltar GX11 1AA

Phone

00 350 200 77779

Email

info@octopus.gi

Get In Touch

Whether you are an experienced Intermediary/Introducer, looking to incorporate a Gibraltar company for your client, or a person in business looking to integrate a Gibraltar company with your present business plans – we can help

New Field

3 + 5 =