Gibraltar is a self-governing, self-financing British Overseas Territory, that is economically prosperous by virtue of its highly diversified economy. Key sectors include financial services, FinTech, gaming, maritime and tourism. Located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean, Gibraltar has a land area of just 2½ square miles (6 km²) and a population of c.30,000.
Gibraltar enjoys a sophisticated range of banking, legal, accountancy and other professional services. Communications are excellent. With ‘passporting’ rights from Gibraltar into the UK secure, Gibraltar remains a unique alternative domicile and gateway for any business focused on the UK market.
Gibraltar has no Capital Gains Tax, no Inheritance or Succession taxes, no Wealth of Gift taxes, no taxes on Savings and Investment Income. There is also no VAT in Gibraltar and no withholding taxes on dividends, interest or royalties.
In 2015 Gibraltar was accepted by MONEYVAL, the permanent monitoring body of the Council of Europe, to be evaluated for compliance with the principal international standards to counter money laundering and the financing of terrorism.
from the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes. Gibraltar also has Exchange of Information (EOI) relationships with approximately 128 jurisdictions, as well as one Double Taxation Agreement (DTA) with the UK and one International Tax Agreement between the UK and Spain regarding Gibraltar.
Gibraltar is a sophisticated international finance centre that offers flexibility, choice and speed to market. Gibraltar operates a common law legal system and a territorial tax system. Gibraltar companies are taxed at a standard rate of 12.5% only on income accruing in, or derived from, activity in Gibraltar. After Brexit, Gibraltar is the only territory in continental Europe with automatic access to the UK market. Gibraltar provides for the formation of all types of corporate entities, including companies, investment funds, foundations and partnerships. Gibraltar entities can be used for all types of business including holding and trading companies, estate and succession planning, family office, funds, property holding and insurance. Sovereign offers company formation and management in Gibraltar across all business areas and corporate structures, together with the administrative support to maximise opportunities and achieve long-term sustainability. These range from full back-office solutions to assistance with compliance in respect of regulatory, tax and economic substance rules.
Gibraltar is a leading international financial centre based on its tax neutrality, sound investment-oriented legislation, modern infrastructure, professional workforce, and proximity to key markets. Sovereign’s Private Client services assist families and entrepreneurs around the world to structure their assets to support personal, family, commercial and charitable interests. Sovereign can advise on all aspects of the design and implementation of structures from a broad range of vehicles in Gibraltar, including trusts, companies, partnerships and foundations. Sovereign Wealth was also set up in Gibraltar as a stand-alone, fully regulated asset manager to provide services to Sovereign Group clients. Gibraltar offers special residency regimes that are specifically designed to attract HNWIs (Category 2) and High Executives Possessing Specialist Skills (HEPSS). These make Gibraltar a very attractive home for entrepreneurs, for retirees and for suitably qualified individuals and their dependents. Gibraltar is also an attractive base for the registration of commercial and pleasure yachts.
Gibraltar is an established centre of excellence for international retirement benefit plans. New pension rules were introduced in 2017 to ensure that Gibraltar maintains the highest standards of pension regulation, as well as retaining its status as a ‘recognised’ jurisdiction for Qualifying Recognised Overseas Pension Schemes (QROPS). Sovereign has a long association with Gibraltar and was one of the first companies to receive a professional trustee’s licence. Sovereign Pension Services (Gibraltar) Limited is a founder member of the Gibraltar Association of Pension Fund Administrators (GAPFA). Sovereign offers a range of international retirement benefit solutions from Gibraltar, including two QROPS. We also offer multi-employer and bespoke occupational pension schemes that enable Gibraltar-based employers of any size to meet their new ‘auto enrolment’ pension obligations. All plans can be tailored to fulfil the objectives of the scheme sponsors and members.