Gibraltar companies offer swift incorporation, full EU compatibility and favourable fiscal advantages. The Gibraltar Companies Act is based on English Legislation and has recently been amended to include relevant EU Directives. The Gibraltar Companies Registry is now fully automated. A Gibraltar company can be incorporated within two to three days. However same day incorporation can be effected for an additional fee. Clearance of the company’s name is required prior to incorporation. For a private company the minimum number of shareholders is one and a sole director is permitted. For public companies the minimum number of shareholders is seven (corporate and nominee shareholders are permitted) and the minimum number of directors is two (corporate directors are also permitted). A Gibraltar company is required to maintain a registered office in Gibraltar where the Statutory Books are kept. Additionally, it is a requirement for a Gibraltar resident company secretary to be appointed. An AGM of shareholders is required to be held once a year, which can take place anywhere in the world, although this can be dispensed with if all the shareholders agree.
The following types of companies are available:
- Limited by shares (public or private)
- Limited by guarantee
- Limited by guarantee with a share capital (known as a “hybrid” company)
- Unlimited, with or without share capital
- Protected Cell Companies
Sovereign provides ready-made or customised incorporation of all types of Gibraltar companies. Once incorporated, we provide a domiciliary service, which includes the provision of company secretarial, registered office and nominee shareholder services. Full management services from our own licensed corporate directors are also available and highly advisable in most cases. Re-mailing services are available at modest cost for all companies established by Sovereign.
Note: Ancillary services
In addition to providing incorporation, domicilary and management (directorship) services, a range of ancillary services at competitive prices is available on request. These services include, but are not limited to: provision of dedicated telephone lines; office and personnel assistance; designated staff members (temporary or permanent availability); assistance with office relocation, introduction to real estate agents, government agencies and other third parties.
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 under a will. They also provide a high degree of confidentiality. Trust legislation in Gibraltar is generally based on UK trust law and Gibraltar recognises and gives full effect to the concept of the trust. A 1990 amendment to Gibraltar’s Bankruptcy Act made in 1990 further enables asset protection trusts to be established in Gibraltar. Under Gibraltar legislation, professional trustees must be licensed. Sovereign Trust International Limited was one of the first companies in Gibraltar to be granted a licence to act in this capacity. Clients and their advisers can therefore be assured that Sovereign is deemed to be fit and proper, possessing the necessary expertise and resources to establish and administer trusts in a wholly professional manner.