GIBRALTAR FACTS AT A GLANCE
Official Name
Gibraltar
Dependence status
overseas territory of the UK
Capital
Gibraltar
Nationality
Gibraltarians
Languages
English (used in schools and for official purposes), Spanish, Italian, Portuguese, Russian
Population
27,714
Ethnic Divisions
Spanish, Italian, English, Maltese, Portuguese
Head of State
Queen ELIZABETH II (since 6 February 1952), represented by Governor and Commander- in-Chief David DURIE (since 5 April 2000);
Head of the Government
Chief Minister Peter CARUANA (since 17 May 1996)
Cabinet
Council of Ministers appointed from among the 15 elected members of the House of Assembly by the governor in consultation with the chief minister
Next Election
last held 10 February 2000 (next to be held NA 2004)
Currency
Gibraltar pound (GIP)
Exchange Rate
Gibraltar pounds per US dollar - 0.6981 (January 2002), 0.8977 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); note - the Gibraltar pound is at par with the British pound
Time Zone
winter GMT + 2, summer GMT +1
Phone Code
Country code - 350, plus five digit local number
Location
Southwestern Europe, bordering the Strait of Gibraltar, which links the Mediterranean Sea and the North Atlantic Ocean, on the southern coast of Spain
Gibraltar Non Resident Company
An Offshore company in Gibraltar is one of the last remaining in the list of offshore formations within Europe. A Gibraltar offshore company or non-resident company is an efficient way to plan your business in Europe, tax free. Incorporation in Gibraltar gives you the possibility to plan your tax returns with the minimum expenses while still remaining in Europe and enjoying EU advantages.
An offshore company in Gibraltar or non-resident company, as it is locally called, is a company that is incorporated in Gibraltar, and owned, managed, and controlled by non-residents. A non-resident company is not subject to local corporate tax, except for the part of profits which may be remitted over to Gibraltar. So considering conducting business within the European Union there are obvious advantages which have to be considered in the search for the suitable offshore jurisdiction for your offshore incorporation. A Gibraltar offshore company can be a valuable asset to any body who wants to explore the European market and not pay taxes which is fully legitimate. An offshore company in Gibraltar is the most cost effective offshore vehicle in today's Europe.
Gibraltar is one of the oldest European offshore centers with the most complete selection of offshore products and services. The local legal system is based on British common law. The major source of corporate legislation is the United Kingdom Companies Act of 1929, and Companies Ordinance Act of 1984 (as amended).
Gibraltar Non-Resident Company - Advantages:
Offshore company inside the European Union
There are no income taxes, capital gains taxes, gift taxes, wealth taxes nor VAT for Gibraltar companies
No requirement to disclose the beneficial owners of an IBC to the registry (but shareholders names have to be filed with the Registrar of Companies)
Directors may be elected at the first company board meeting of a Gibraltar company
For a Gibraltar company, share capital can be formed in any recognizable currency, usually it is GBP, Euro or US
Only one director and shareholder is required for Gibraltar companies.
Resident director is not required for a offshore Gibraltar company
Corporate body can be a director or shareholder of the Gibraltar offshore company
One person can be a director and a shareholder of the Gibraltar offshore company
There is no requirement for an annual audit (filing of accounts is required but in a very abridged form) for an offshore Gibraltar company
Confidentiality is guaranteed by law
Register of directors' names are not filed with the Registrar at the time of Gibraltar company formation
Gibraltar offshore companies may own or manage a vessel registered in Gibraltar
One doesn't have to come to Gibraltar for Gibraltar incorporation
There are no international agreements on dual taxation
Note: There are special requirements for names with the following words: There are sensitive words which the Gibraltar Companies House is unlikely to approve in a company name. Under these circumstances, we will not make applications for name reservation if a listed sensitive word is included. "British", "National", " Gibraltar or Great Britain", " Chamber of Commerce", "and/or Trade and/or Industry", " Authority", "board or council", " Association", "Federation or Society", " Patent or Patentee", " Co- operative", " Group Holding(s)", "Friendly Society or Industrial Provident Society", " Trade Union", "Charter or Chartered", " Benevolent", "Foundation or Fund", " Post office", "Giro or Stock Exchange", " Register or registered", " Chemist or Chemistry or Pharmaceutical", "Police", "Customs", "Immigration", "Foundation", "School or University or College; Club", "Authority", "Council", "Federation", "Institute", "Trust", "and Investment Trust", "Unit Trust", "Bank", "Directors", "Financial", "Savings", "Commodities", "Brokers", "Credit", "Nominee", "Dire" or any derivatives thereof.
A list of shelf companies is available at all times on request.
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