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back to company
formations
Incorporation
costs and annual fees for Gibraltar:
Incorporation
fees and charges for the setup and maintence of Gibraltar
companies are as follows:
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| Incorporation
Fee |
Ordinary
company £600 |
Tax
exempt status £771 |
| Annual
Fees |
Ordinary
company £160 (Due on anniversary of company) |
Tax
exempt status £611 (Due 1st March) |
| If
you require an internet domain registration to accompany
the formation click
here to check for availabilty of a .gi domain
name or here
for any other domain |
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Gibraltar
Update
Things are still uncertain as to which way Gibraltar will
go regarding corporate services but in coming months it should
become clearer. The other dilemma in Gibraltar is that speculation
still continues over the long term sovereignty of the colony,
newspaper reports indicate that over 60% of Spaniards
would like to see Gibraltar granted its independence. However,
no action is certain to resist any changes in sovereignty
and will fight tooth and nail to remain British.
Last
year it seemed Gibraltar had found an answer to pressure from
the OECD and EU member states over offshore corporate tax
issues, in the shape of a number of tax reforms first announced
on 14th July 2002.
From
1st January 2003 a zero rate of corporation tax for all companies
was to come into effect and changes were to be made to income
tax and property tax. The changes would effectively have neutralised
any charge of unfair tax advantaging and were as follows:
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A
‘Company Payroll Tax’ (similar to the
Bermudan model) was to be introduced in respect
of Gibraltarian employees. An annual sum per employee
being payable by all companies to the tax authority. |
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A
new business property occupation tax was to be introduced
for companies with Gibraltarian premises |
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All
companies were to be charged with an annual registration
fee, dependent on activity, £300 for active companies;
£150 for those which remain inactive. |
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Exempt
and Qualifying companies were to be abolished, and all
companies treated alike, except for certain types of
financial and utility companies, which would be taxed
at no more than 15% on profit. |
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| Unfortunately,
the powers that be in Brussels have opposed these changes and
at the time of writing (July 2004) the position is still
far from clear with some EU countries insisting that Gibraltar
should be treated as a part of the UK for tax purposes. We do
not know what will be finally agreed but it is terribly unstable
situation. This does not prevent us forming companies but it
means the structure takes on the personality of a lucky dip!
You just do not know what deal you will end up with. Here at
ORCA we have discussed everything amongst ourselves and feel
the final deal might be similar to the arrangements in Cyprus
with a flat rate 10% tax. One thing is for certain Peter
Caruana and his Gibraltar Government will fight all the way
to retain the original deal if they can, even if they are forced
to take fairly radical steps. |
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registration efficiency |
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| Confidentiality |
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| Local
banking facilities |
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| Legal
system |
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| Political
stability |
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| Reputation |
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| Availabilty
of local services: Phone, Fax, Sim cards, Hosting, Maildrops,
etc, etc. |
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