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 email@example.com or by telephone on +350 200 77779.