Gibraltar Offshore Company
Gibraltar is located at the entrance of the Mediterranean. It is connected to
the Spanish mainland by an isthmus, and by boat to Morocco. The terrain which
is narrow coastal lowland borders the Rock of Gibraltar. The climate is
Mediterranean with warm summers and mild winters. People belonging to different
ethnic groups reside here, but English is the most commonly spoken language
here.
Gibraltar is an attractive offshore location for investment, shipping,
investment holding companies, and offshore companies. You will be happy to know
that there are no income taxes, capital gains taxes, and no exchange controls
of any sort. A Gibraltar Offshore Company can be incorporated within five days.
Now, isn’t that wonderful?
If you are convinced about opening a Gibraltar Offshore Company, the following
points will strengthen your desire for opening the account.
* Legal Form: Four types of companies can be formed in Gibraltar, namely
Gibraltar 1922 Companies, Exempt Companies, Qualifying Companies, and
Non-Resident Controlled Companies. A Gibraltar Offshore Company is either tax
exempt or non-resident company.
* Name of the company: It is mandatory for all companies with limited liability
to use the suffix Limited or Ltd.
* Memorandum and Articles of Association: To register a company with limited
liability, the Memorandum and Articles of Association must be prepared and
filed with the Registrar of Companies. The Memorandum of Association describes
the activities the company is engaged in, and the Articles of Association
specifies the rules by which the company is managed.
* Shareholders: The number of shareholders in the Gibraltar Offshore Company,
just as in the case of a private limited company, can be between 1 and 50.
Details of shareholders should appear on the public file, but anonymity can be
preserved. Bearer shares cannot be issued. Confidentiality and privacy is taken
rather seriously here and secrecy is guaranteed by legislation. The name of the
Beneficial Owners can be disclosed only by the order of the Supreme Court on
suspicion of criminal activity.
* Any Gibraltar limited liability company, including a Gibraltar Offshore
Company, can be registered with the authorized share capital of 2,000 pounds.
That amount is the maximum share capital which attracts the minimum capital
duty.
* Directors of the Company: The minimum number of directors is one, who can be
either corporate or an individual.
* Registered Office: Every offshore company registered in Gibraltar should have
a registered office and address in Gibraltar.
* Non-resident status: If the Gibraltar Offshore Company is required to qualify
for a non-resident status, the company must be controlled and managed from
outside Gibraltar.
i. The offshore company will not be subjected to any local taxes except for the
corporate tax on profits remitted to Gibraltar.
ii. Non-resident controlled companies can trade with Gibraltarian companies,
but they will be subject to a corporate tax of 35%.
iii. The company must be completely owned by non-residents.
iv. Directors may be of any nationality, but must not reside in Gibraltar.
v. All board meetings must be held outside Gibraltar.
* Audit and Accounting: All Gibraltar registered companies must file annual
returns with details of shareholders and directors. These accounts must be
submitted to the Registrar of Companies.
Opening a Gibraltar Offshore Company looks a very attractive proposition indeed!
Then, why delay?