Sovereign Trust (Gibraltar) Limited

 

About Gibraltar

Background: Strategically important Gibraltar was ceded to Great Britain by Spain in 1713. In a 1967 referendum, Gibraltarians ignored Spanish pressure and voted overwhelmingly to remain a British dependency.

Location: Southwestern Europe, bordering the Strait of Gibraltar, which links the Mediterranean Sea and the North Atlantic Ocean, on the southern coast of Spain.

Economy - overview: Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. The British military presence has been sharply reduced and now contributes about 11% to the local economy. The financial sector accounts for 20% of GDP; tourism (almost 6 million visitors in 1998), shipping services fees, and duties on consumer goods also generate revenue. In recent years, Gibraltar has seen major structural change from a public to a private sector economy, but changes in government spending still have a major impact on the level of employment.

Office Profile

• Established in 1987
• Licensed as a professional trustee

Time

Gibraltar is one hour ahead of Greenwich Mean Time (GMT).

 

1. Gibraltar Companies
   We provide ready made or customised incorporation of all types of Gibraltar companies and all related services, including the provision of company secretarial, registered office and nominee shareholder services or full management services from our own licensed directors. To qualify for tax exempt status a company must be owned by non-residents of Gibraltar and must not transact business with other Gibraltar resident companies or individuals. However, it may have locally appointed directors and may maintain bank accounts within Gibraltar. For full details of the types of company available visit our Jurisdictions page.
2. Trustee Services
   Gibraltar has a legal requirement that professional trustees be licensed and Sovereign Trust International Limited was one of the first companies in Gibraltar to be granted a licence to act as a professional trustee. This is your assurance that we are fit and proper and have the necessary expertise and resources to establish and administer trusts in a wholly professional manner. Trusts have many applications and advantages, including the protection and preserving of assets, tax planning or just avoiding the expense and delays of obtaining probate. They also provide a high degree of confidentiality.
3. Residency for High Net Worth Individuals
   Wealthy individuals who have approved residential accommodation in Gibraltar available for not less than seven months in each year of assessment and who reside in that property for a minimum of 30 days (but are not otherwise resident in Gibraltar) may apply to the Financial and Development Secretary for the issue of a certificate qualifying them as a High Net Worth individuals. This status entitles such individuals to pay a minimum of £18,000 and maximum of £21,880 income tax per annum on their worldwide income. We can assist with all application and qualifying procedures.
4. Ship & Yacht Registration
   Merchant ships registered at Gibraltar are registered as British ships under Part 1 of the United Kingdom Merchant Shipping Act 1894 and once registered are entitled to fly the British flag with all of its attendant advantages. Gibraltar is one of five Category 1 Red Ensign Group Registers with full, bareboat charter, provisional and ships under construction registrations. Similarly, yachts registered at the Ship Registry of Gibraltar are also entitled to fly the British flag. Although the Gibraltar Registrar of Ships will only register ships and yachts that are owned by UK nationals or nationals of UK dependent territories, foreign nationals may obtain the advantages of Gibraltar registration by having their vessels owned by a Gibraltar Company. We are able to assist with transfer of ownership to Gibraltar companies and all registration formalities. We are also recognised by the Government of Gibraltar as a local Authorised Officer and Accounting Authority if required.

 

Sovereign Trust International Limited - Licensed by the Financial Services Commission as a Professional Trustee under Licence number FSC 00215B.02/99.

Sovereign Trust (Gibraltar) Limited - Licensed by the Financial Services Commission as a Company Manager under Licence number FSC 00143B.02/99).