Gibraltar




	Gibraltar

Gibraltar

Key Corporate Features
General Information
Company Information
Compliance

Key Corporate Features

General

Type of Company:	Exempt

Political Stability:	Good

Common or Civil law:	Common

Disclosure of Beneficial Ownership to Government Authorities:	Yes

Migration of Domicile Permitted:	Yes

Tax on Offshore Profits:	Nil

Language of Name:	Latin alphabet

Corporate Requirements

Min. No. of Shareholders / Members:	One

Min. No. of Directors / Managers:	One

Corporate Directors / Managers Permitted:	Yes

Company Secretary Required:	Yes

Standard Authorised Share Capital:	£ 2,000

Local Requirements

Registered Office / Agent:	Yes

Company Secretary:	Yes

Local Directors:	No

Local Meetings:	No

Government Register of Directors / Managers:	Yes

Government Register of Shareholders / Members:	Yes

Annual Requirements

Annual Return:	Yes

Submit Accounts:	No

Recurring Government Costs

Minimum Annual Tax/ Licence Fee	£ 300

Annual Return Filing Fee	Included in licence fees

General Information

Gibraltar is a peninsula at the southern tip of Spain with an area of approximately 7 sq km. It is adjacent to Africa yet within Europe, and has an historically strategic position at the junction of the Atlantic and the Mediterranean.

Population The population of Gibraltar is approximately 30,000 although a substantial number of the working population commutes daily from homes nearby in Spain. A number of Moroccan, British and Indian expatriates live in Gibraltar.

Gibraltar is a British Dependent Territory and is a Crown Colony with internal self-government. It has its own elected House of Assembly, which legislates on domestic matters. The United Kingdom is responsible for defence, foreign affairs, financial stability and internal security. Gibraltar is a member of the European Union by virtue of Article 227 paragraph 4 of the Treaty of Rome in its capacity as a territory for whose external relations a member state (the United Kingdom) is responsible.

Gibraltar enjoys special status within the Community and is exempted from the Common Customs Tariff, the Common Agricultural Policy and Value Added Taxation.

Gibraltar is politically stable and the current Government actively promotes Gibraltar as a first-class international financial centre.

Since the opening of the border with Spain in 1985, the level of tourism and investment has increased dramatically. Several international banks and insurance companies have offices in Gibraltar.

Gibraltar has excellent modern postal and telecommunications systems. Thanks to a joint venture between the Gibraltar Government and the Nynex Corporation of the USA, Gibraltar enjoys the latest in digital and fibre-optic telecommunications.

There are daily flights between Gibraltar and London and frequent scheduled air services to Manchester, Luton and Tangier. Although it is not at present possible to fly direct from Gibraltar to Spain and other destinations the airports at Seville, Jerez and Malaga can easily be reached by road and provide direct services to many international destinations.

The Port of Gibraltar enjoys free port status and hosts frequent calls from many of the world's shipping lines, both passenger and freight.

Language The official and spoken language is English although because of Gibraltar's close proximity to Spain, Spanish is spoken widely.

Currency UK Pound. Local notes and coins are produced but UK Currency is accepted, as is the Spanish Peseta, with most shops displaying dual currency price tags.

There is no exchange control.

Type of Law Common Law based on English Common Law.

Principal Corporate Legislation Based on the United Kingdom 1929 Companies Act (as amended) and the Companies Ordinance 1984 (as amended).