Gibraltar was the first European jurisdiction to offer the exempt company which allows a company to be managed and controlled from Gibraltar whilst still being able to enjoy preferential status there. In addition Exempt companies can be non-resident exempt and managed and controlled from elsewhere. A cost effective European jurisdiction offering excellent efficiency and value for money. The Exempt certificate gives exemption from Gibraltarian taxes.
As a full member of EU pressure may be brought to bear at some time in an attempt to force Gibraltar to harmonise its taxes with other member states. The ongoing discussions between Britain and Spain over sovereignty.
Company Status
Corporate legislation source
Companies Ordinance 1974 and Companies (Amendment) Ordinance 1992/1996, based on UK Companies Act 1929
Company name
Prior approval not required, though many words considered sensitive, including ‘Royal’, ‘Holdings’, ‘Group’, ‘International’, ‘Bank’ etc.
Time taken to incorporate
5-7 days, though same day incorporation possible at a premium
Are shelf companies available?
Yes, application made for exemption after acquistion
Usual minimum capital
At least Stg£100 paid up share capital or currency equivalent
Capital Duty
Minimum number of shareholders
One-but two is more usual
Are bearer shares/shares of no par value possible?
Directors: minimum number/corporate: directors allowed/location
One/Yes/May be resident
Secretary: mandatory/corporate Resident: secretary allowed/location
Yes/Yes/Must be resident
Is there a requirement for a Registered Office/Registered Agent?
Is any information required by the authorities prior to incorporation or prior to tax status being granted?
References must be supplied to the agents and may be required by the authorities before exemption is granted - basically to prove that Gibraltarians do not have a beneficial interest
What information is available on the public file?
Directors, Shareholders, Registered Office, Memorandum & Articles of Association, Annual Return, Mortgages & Charges
What documents must be kept at the Registered Office?
Registers of Members, Directors, Mortgages & Charges
Corporate books & seal
Both required and usually held at the registered office
Are accounts required/filed?
Yes/Yes (abridged version for small companies)
Is an annual return required?
Where are meetings to be held?
No restrictions
Annual fees payable to the government: Tax/Annual Return Filing Fee
Are there any exchange controls?
Double tax treaties