The most common legally tax exempt Gibraltar entity types are LTD and LLC. Other possible entity types in Gibraltar are:
In accordance with the Companies Act 1930, companies are required to be incorporated in Gibraltar as:
The services of a professional expert should again be sought when incorporating a limited company, although this is not a strict requirement. Generally, setting up this structure may cost well over £1.000 – £3.000, though this is habitually considered to be money well spent since the professional appointed will produce and implement all the intricate incorporation documentation as well as offer to undertake other services.
A limited company may own assets, enter into contracts, borrow and lend money, as well as sue and be sued in its own name. The legal personality of the limited company is separated from its individual shareholders (owners). However, it is common practice for banks and landlords to seek personal guarantees from the directors, by making them personally liable for obligations should the business fail.
The liabilities of a company are distinct from those of its shareholders. The company is liable for its debts to the full extent of its assets, though this liability does not extend to the personal assets of its shareholders. A company also has perpetual existence, thus the ownership can pass at any time through the transfer of the shares; this being an ideal vehicle for expansion.
There are some points that need to be noted on the subject of company incorporation:
There are numerous regulations governing the administration of a company, with the duties, responsibilities and liabilities of directors being set out in the Companies Act 1930.
To view the Companies Act visit: www.gibraltarlaws.gov.gi
The first step when forming a Gibraltar Company is to ensure that the proposed name is acceptable to the Company Registrar. Once the name is approved, the following documents need to be submitted in accordance with the provisions of the Companies Act:
A registration fee of £100 is currently payable at the time of presentation of the documents. The Memorandum and Articles of Association must be embossed with the appropriate Stamp Duty.
Fill a Novasigma company order form and send all required details and certified documents about business activity, shareholders, directors and at least three (3) name suggestions. Remote registration available in case of all documents have been apostilled.
Novasigma will prepare Memorandum of Association, Articles of Association, Declaration of Compliance, Notice of Situation of Registered Office and Statement of Nominal Share Capital
The time taken to incorporate a Company in Gibraltar is normally three working days, though a company may be incorporated within 24 hours if necessary for an extra fee of £100. Once incorporated, a Certificate of Incorporation is issued. Under Gibraltar legislation, only barristers or acting solicitors of the Supreme Court may incorporate Companies for gain.
After the registration company can start business operations and open a bank account. If your business activities will be located outside of Gibraltar we strongly suggest to consult us for a list of available banking and payment solution.
|Entity types and suffix:||Limited company|
|Shareholders/Founders:||at least 1 person or legal entity, foreign entities accepted|
|– Documents||Copy of I.D. document of a founding partner(s)|
|Directors:||at least 1 natural person or at least 1 company, non-resident directors accepted|
|– Documents||Copy of I.D. document of a person to be registered as a director or company documentation|
|Share Capital:||Minimum £1 (GBP)|
|Residency:||A company will be considered resident in Gibraltar if the management and control of its business is exercised from Gibraltar or from outside Gibraltar by persons who are ordinarily tax resident in Gibraltar.|
|Corporate tax:||10% (offshore companies 0%)|
|VAT:||VAT rate of 0%|
|Annual financial report:||Yes|
|Registration address:||Yes (in Gibraltar)|
|Annual renewal required:||Yes|
|A Company bank account:||Bank account is not required before company registration|
|Free zone registration:||–|
|Other:||In 2018, Gibraltar will be one of the few jurisdictions that will introduce a fully regulated and comprehensive framework for businesses engaged in blockchain and cryptocurrency activities. DLT provider’s government annual license fees £10,000-£30,000|
COMPANY REGISTRATION EXPENSES: from EUR 115 (Companies House fees)
Pricing: Expenses may vary depending on entity type, document requirements and type of founders
ASSISTANCE & CONSULTING BEFORE AND DURING THE INCORPORATION: from EUR 1150
Pricing: EUR 99 – 185 /hour depending on tasks (min assignment with Gibraltar company registration is 5 hours + Local registered address and agent fees from EUR 650)
ADMINISTRATION, LEGAL & ACCOUNTING SERVICES: Optional
Pricing: ask quotation from selected services
MIN. TOTAL COSTS:
|REGISTRATION FEES:||EUR 115|
|ASSISTANCE & CONSULTING:||EUR 1,150|
|ADMINISTRATION, LEGAL & ACCOUNTING:||Optional|
|GIBRALTAR COMPANY FORMATION FROM:||EUR 1,265|
IS GIBRALTAR FOR YOU? Please send your contact details to schedule a phone meeting or send a brief information package so we can get back to you with tips and quotation. We normally reply to queries within 3 hours!
In cases KYC or/and Due Diligence process required Novasigma might require a personal meeting with all its new clients before proceeding any assignment
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