Why would you use a non-resident Gibraltar Company

Individuals may choose to set up a Gibraltar company for many different reasons.

It is always recommended to obtain tax advice in the jurisdiction of the beneficial owners.

Gibraltar non-resident companies are not subject to corporation tax, capital gains tax, inheritance tax or VAT.

The tax benefits can be beneficial depending on the activity of the company.

We have seen a lot of interest recently in Gibraltar companies from UK residents due to confidentiality. The clients would declare and pay UK tax on the company profits but the information on the company can only be accessed at the registry if the person has an account. In the UK this is available directly by anyone from Companies House.

Gibraltar has introduced a beneficial owner register in line with the EU but this is not yet publicly available and following the European Court of Justice ruling in November that this infringes personal data protection rights, it is increasingly more likely that the register will only be open and available to tax authorities or criminal investigations.

For more information, contact phil.cartwright@octopus.gi or by telephone on +350 200 77779.

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Frequently Asked Questions

What are the primary tax benefits of a non-resident Gibraltar company?

Non-resident Gibraltar companies are not subject to corporation tax, capital gains tax, inheritance tax, or VAT. These exemptions can provide significant tax advantages depending on the company's activities and the jurisdictions involved.

How does the level of confidentiality for Gibraltar companies compare to UK companies?

Information on Gibraltar companies is less publicly accessible than in the UK, where Companies House provides direct public access. In Gibraltar, company information is only accessible at the registry if the individual has an account.

What recent developments have affected beneficial owner registers in Gibraltar?

Gibraltar has introduced a beneficial owner register aligned with the EU, but it is not yet publicly available. Following a European Court of Justice ruling in November, it is increasingly likely that the register will be open only to tax authorities or for criminal investigations, due to data protection concerns.

Is it necessary for beneficial owners to obtain tax advice before setting up a Gibraltar company?

Obtaining tax advice in the jurisdiction of the beneficial owners is recommended before establishing a Gibraltar company. This ensures compliance with local tax obligations and proper declaration of company profits.

Why have UK residents shown increased interest in Gibraltar companies recently?

UK residents have shown increased interest in Gibraltar companies due to the higher degree of confidentiality offered by Gibraltar’s company registry compared to the UK’s more transparent system. This confidentiality is particularly relevant for those who must still declare and pay UK tax on company profits.