Company structure in Gibraltar

Legal basis  - Common Law

Legal framework  - Companies Act 1930

Company form  - Private company limited by shares (Ltd)

Responsibility  - The liability of shareholders is limited to the amount of their shares.

Social capital - The  equity is divided into shares of a fixed amount. Shares can be awarded at face value or at a premium and can be fully or partially paid for. Bearer shares are not permitted.

There is no minimum share capital, but two shares must be issued. Usually the standard share capital is £ 2,000 which does not need to be paid up.

Shareholders - A Gibraltar company can be formed by one or more natural or legal persons, residents or non-residents. Shareholder details are made public.

Administrators - A company must have at least one director, who can be a natural or legal person, resident or non-resident. Details of the directors are made public.

Secretary  - The company appoints a secretary who can be a natural person or a legal person.

Registered address  - A company must have a registered office in Gibraltar.

General assembly  - Each year, each company must hold a general meeting as an annual general meeting. The AGM can take place anywhere.

Electronic signature  - authorized.

Re-domiciliation  - In / out redomiciliation is generally permitted in / to a country recognized by Gibraltar for the purpose of re-domiciliation, the EEA and British Commonwealth member countries as well as most other financial centers.

Conformity  - Each company is required at least once per calendar year to submit an annual report and accounts. Tax resident companies must submit an income tax return each year.

Unless a business qualifies to be a small business, the business must appoint an auditor and submit audited accounts.

 

Key figures of Companies in Gibraltar

Official name	Gibraltar
Proper noun	Gibraltar
Continent	Europe
Subcontinent	Europe (outside the European Union)
Population	36,974 inhabitants (2019)
Population growth	1.55 % / year
Area	7 km²
Density	5,437.35 inhabitants / km²
GDP	2.827 billion $USD (2018)
GDP / capita	84,198 $USD (2018)
GDP growth	6.00 % / year (2018)
Life expectancy	79.40 years (2016)
Birth-rate	14.70 ‰ (2014)
Fertility rate	1.91 children / woman (2016)
Mortality rate	7.50 ‰ (2014)
Child mortality rate	6.00 ‰ (2016)
Literacy rate	100,00 % (2019)
Official languages	English
Change	Gibraltar pound (£ GIP)
HDI	0,961 / 1 (2008)
IPE	nc
Nature of State	United Kingdom Overseas Territory
Head of state	Queen Elizabeth II; Governor Ed Davis
National Holiday	September 10 (1967 sovereignty referendum)
Codes ISO	GI, GIB
Nice	Gibraltarian, Gibraltarian
Tourists	99,722 people (2016)

Gibraltar is a small overseas territory of the United Kingdom (6.8 km²) located to the south of the Iberian Peninsula, bordering the Strait of Gibraltar, which connects the Mediterranean to the Atlantic Ocean. It corresponds to the Rock of Gibraltar and its immediate surroundings and is separated from Spain by a border of 1.2 kilometers. It faces Morocco, located in Africa, on the other side of the strait.

 

 

Located within a large urban area of about 300,000 inhabitants (grouping Algeciras and La Línea de la Concepción), Gibraltar forms a British enclave in southern Spain. A kind of thorn in the Spanish side, because this tiny strategic area is claimed by this country, which was ceded to the British in 1713. The planned exit of the United Kingdom from the European Union has revived the debate on trade relations between Spain and the small territory, sources of tensions between the two countries. Spain wants to have a right of scrutiny over the application in Gibraltar of any agreement, in particular trade, between the United Kingdom and the European Union. Madrid offers shared sovereignty, so that Gibraltar can remain within the European Union. What London categorically refuses.

This region is strategic, especially militarily, because it is a control point for the passage of ships between the Atlantic and the Mediterranean, and between Europe and Africa.
Military activities and related shipyards have long been the mainstay of the economic activity of the small territory. Now, services, including tourism but especially finance, have taken over. Gibraltar is indeed considered a tax haven.

 

 

The proximity to Spain greatly favors tourist visits, although few people stay overnight on the “Rock”. About 10 to 11 million people visit the territory each year, but only 100,000 of them are counted as foreign tourists (the official definition of which requires that they stay at least one night there).

 

Corporate Taxation in Gibraltar