Let’s Go Off the Beaten Track: Set Up Your Company in Gibraltar!

by in Business

Gibraltar is not the first offshore destination that will come to your mind when we talk about company registration. However, it is quite popular with entrepreneurs from all over the world who flock here to incorporate companies (especially European ones) and take advantage of low tax rates. Gibraltar offers a lot of features that company owners appreciate (like enhanced privacy, straightforward company registration procedure, and high reputation), so we often recommend it to our customers.

If the jurisdiction is new to you and you would like to read more about business in Gibraltar, welcome to our portal called International Wealth. It is focused on international business and banking, tax optimization, accounting, investment, in short – everything connected with money accumulation and preservation. And if you are currently looking for a good jurisdiction to start your business, you will find a lot of up-to-date information.

We also have seasoned experts who will help you with any aspects related to your business, including registration, re-domiciliation, choosing a jurisdiction, a legal form, using a nominee service, and so on. Some of our services are free: for example, you can book a session and discuss which country or bank will be best suited for your business. And if you want us to take all the administrative steps acting as your representatives, we can do so for a reasonable fee. You will have to collect the required documents, and we will take care of the rest.

Gibraltar: Overview

Gibraltar is a rocky peninsula situated close to Africa (though it is actually a European territory). This strategically located area is washed by the Mediterranean Sea and the Atlantic Ocean, and it is a peculiar mixture of the European and African legal and financial frameworks that makes Gibraltar an appealing place for entrepreneurs wishing to set up an offshore company. Let’s look at the main things that seem attractive to business people:

  • Company incorporation is affordable and not very long
  • You will be exempt from capital gains, income, and inheritance taxes
  • You will be able to set up an account for your company in any country
  • You will surely appreciate well-organized communication with customers
  • You can legally use nominee service if you want to have more privacy
  • If you are used to meticulous checks by the tax authorities, Gibraltar will be a relief as they are minimized here
  • You can engage in trading activities outside Gibraltar without any restrictions
  • The level of privacy you will get will be high enough even without a nominee service

Gibraltar is a respectable jurisdiction that will provide political and economic stability for years ahead, and it seems to be an ideal place to launch your undertaking.

Gibraltar-Based Companies: Requirements

The companies incorporated in Gibraltar operate on the basis of the 1984 Companies Ordinance, and here are some regulations they are required to comply with:

  • The companies can carry out their activities in any country of the world without restrictions
  • The office of the non-resident company must be opened in Gibraltar
  • Each company is required to have a local secretary
  • The name of the incorporated non-resident company must contain the word “Limited”

And here are some additional requirements you will have to fulfill:

  • Your company is required to have at least one director and one shareholder (it can be an individual or a legal entity, and the residence does not matter)
  • All the data as to the company shareholders/beneficial owners is not publicly available
  • The meetings of shareholders can be held in any country whatsoever
  • The company has no obligations as to the accounting, but it is required to keep reports
  • There is no strict obligation to keep the company documentation in the Gibraltar office, so it can be kept in any country
  • The company can pay zero taxes on the condition that it does not involve Gibraltar residents as its customers and its key members (directors, owners, managers) do not have the status of the country’s tax resident

Corporate Account for your Gibraltar Company

On the whole, you can open an account for your Gibraltar company anywhere in the world. However, we would like to offer an excellent option for you: a business account with a UK payment system.

Today, there are three viable financial alternatives for entrepreneurs who wish to open a corporate account: a regular bank, a neobank, and a payment system. We have opened a lot of business accounts for customers in different payment systems and got excellent feedback! This is the main reason why we recommend it to you.

Let’s take a look at the advantages of the UK payment system:

  • You will have a fully functional business account in a matter of several days, and you will not need to pay a visit to the institution’s office to sign an agreement or take an interview
  • The account holder will be able to make payments all over the world in any currency, and there are no restrictions on third countries
  • Incoming/outgoing transactions can be processed very quickly as you will have a direct connection to SEPA Instant and Open Banking API
  • You will be able to register a contactless corporate card
  • The corporate account opening fee starts from 1,000 euros
  • Monthly account maintenance fee starts from 100 euros
  • Transaction commissions start from 45 euros

Let’s take a brief look at the list of services offered by the payment system to account holders:

  • Quick and seamless money transfers
  • Currency exchange at reasonable rates
  • Payments in around forty different currencies
  • Lending services
  • Payment of invoices
  • Escrow accounts
  • Services related to all kinds of cryptocurrency-related projects

If you need a service that is not on the list, please get in touch with our expert to discuss it as the list is not full and it needs to be updated from time to time.

The money you deposit with the payment system is kept in correspondent accounts of Central European banks, so your capital will be safe.

Interested in the powerful duo (a company in Gibraltar and an account with a UK payment system)? Or maybe you only need a Gibraltar company to start your business? Click on the above link to get in touch with our experts and get things moving!