News: Registration of Company on Gibraltar

Registration of a company in Gibraltar

Rocky Gibraltar peninsula is situated in the southern part of the Iberian Peninsula, which is connected with Gibraltar by the isthmus of 1.5 m. Being located in Europe, the territory of Gibraltar is geographically very close to Africa. Such location is strategic, because the Atlantic Ocean and the Mediterranean Sea encounter near the peninsula.

The total area of Gibraltar is about 7 km2. For such small territory there is small population which equals to only 300 000 inhabitants. It should be taken into account that the category of workers in Gibraltar is mainly formed by visitors from Spain.

Despite the prevalent use of Spanish, the official language is English. And this is not surprising at all, because Gibraltar has long been a colony of Great Britain. Therefore, along with the Gibraltar pound, there is the currency of the United Kingdom, as well as pesetas (Spanish currency).

Being the peninsula located in the Mediterranean Sea, Gibraltar is characterized by dry summers and humid and cool winters. Therefore, tourists consider late summer and spring to be the most comfortable seasons for visiting the peninsula.

Currently, Gibraltar is the member of the EU having special status (British colony).

Nowadays, Gibraltar is popular not only among tourists, but also as the jurisdiction in which it is possible to conduct successful international business. More and more businessmen and investors tend to register company in Gibraltar.

Among the main reasons in favour of this trend there are the following factors:

• Registration of company in Gibraltar is considerably inexpensive procedure, and the advantage is also the low level of annual tax;
• The state language is English;
• It is possible to use the nominal service;
• There are no restrictions concerning trade outside the jurisdiction;
• Additional license is required only for provision of banking and insurance services.

How to register offshore company in Gibraltar

• The company registered in Gibraltar is prohibited from rendering services to the residents of the peninsula.
• The company is not entitled to conduct activities related to the provision of legal address to other companies, as well as own real estate.

Company registration in Gibraltar: Peculiarities

• International business in Gibraltar is usually conducted by owners of such organizational and legal form as the Non-Resident Company (NRC).
• The legislative basis is the Decree "On companies" (1984). According to this Decree, the company (offshore company) registered in Gibraltar can conduct entrepreneurial activities in any world jurisdiction.
• NRC in Gibraltar can be engaged in permitted types of activities, and trust, banking, insurance and reinsurance activities are subject to licensing.
• The company's office shall be registered in the territory of the jurisdiction, as well as there should be secretary.
• The company's entrepreneurship in Gibraltar is prohibited.
• The name of registered company shall include the word Limited.
  There is no peremptory requirement to pay the authorized capital. As an option, it is proposed to divide the charter capital in the amount of 2000 GBP into 2,000 shares, nominal value of each is 1 GBP.
• It is permitted to issue such shares as:

- bearer shares;

- no-par-value shares (subject to the condition of mandatory capital increase).

• Minimum number of directors and shareholders is one, either natural person or legal entity.
• The person with the citizenship of Gibraltar or the residence permit on the peninsula can not be the director of the company.
• Information regarding shareholders and banking transactions is confidential and can be disclosed only according to the court decision.
• The meeting of shareholders (directors) can be held anywhere in the world.
• The documents of the company can be stored anywhere.
• The registration of company (offshore company) in Gibraltar usually takes from 15 to 20 working days and has the following main stages:
  - verification of the name in the register;
  - preparation of all required documents;
  - payment of duties and fees for registration;
  - putting data on the Register of Companies.

Bookkeeping and taxation of companies in Gibraltar

Accounting is not maintained.

Annual reports are optional.

Small companies are not required to submit audit report.

There is no currency control.

There is full exemption from paying taxes.

The cost of the company's maintenance includes the submission of the required annual reporting.

If cost-efficient business is what you are striving for, the registration of the company (offshore company ) in Gibraltar is exactly what you need.

We will help you quickly register company in Gibraltar. The registration of companies abroad is one of the main directions of our activity.