Gibraltar, a British Overseas Territory located on the southern end of the Iberian Peninsula, has become an increasingly attractive destination for businesses looking to establish a presence in Europe. Let’s see how to establish a company in Gibraltar and take advantage of its stable economy, solid infrastructure, and attractive tax regime.
Benefits of Setting Up a Company in Gibraltar
Favorable tax environment: Gibraltar offers a corporate tax rate of 10%, significantly lower than the average in the European Union.
Strategic location: Gibraltar is situated at the entrance of the Mediterranean Sea, providing easy access to both European and African markets.
Political stability: As a British Overseas Territory, Gibraltar enjoys the stability of the British political and legal system.
Skilled workforce: Gibraltar houses a well-educated workforce, with English as the official language, making communication easy.
Robust regulatory framework: Gibraltar’s adherence to UK and EU regulations ensures a high level of corporate governance and transparency.
How to Set Up a Company in Gibraltar
Step 1: Choose the right company structure
Before you can aprire società Gibilterra, you’ll need to decide on the most suitable company structure for your needs. The most common types of companies in Gibraltar include:
Private limited company (Ltd): A business entity limited by shares, requiring a minimum of one director and one shareholder. There is no minimum share capital requirement.
Public limited company (PLC): A larger business entity limited by shares, requiring a minimum of two directors and at least two shareholders. A minimum share capital of £20,500 must be paid up.
Limited liability partnership (LLP): A business structure suitable for professional service providers, where partners have limited liability. This requires a minimum of two partners.
Branch of a foreign company: For companies registered outside Gibraltar but seeking to operate in the territory, a branch can be established while keeping the parent company registered in its country of origin.
Step 2: Register your company name
Choose a unique company name and ensure it adheres to Gibraltar’s trading name guidelines. To register your chosen name, submit an application to the Gibraltar Companies Registry. The registry will provide a certificate of name reservation if your company name is approved.
Step 3: Prepare company documentation
Prepare the necessary company documentation, including the following:
Memorandum of Association: Describes the company’s purpose, initial capital, and share distribution.
Articles of Association: Details the company’s internal governance, such as voting rights and decision-making processes.
In the case of a branch of a foreign company, additional documentation may be required, such as a certified copy of the parent company’s registration documents.
Step 4: Appoint directors and a company secretary
Appoint the necessary directors and a company secretary for your chosen company structure. A Gibraltar-registered company must have at least one resident director and a company secretary, who may be a resident individual or corporate body.
Step 5: Register your company
Once your company name, structure, and documentation are in order, submit your company registration application to the Gibraltar Companies Registry. Registration fees vary depending on the company structure and share capital.
Upon successful registration, you will receive the following:
Certificate of Incorporation
Memorandum and Articles of Association
Register of company officers
Share certificates for each shareholder
Step 6: Open a bank account
Open a corporate bank account in Gibraltar to manage your company’s finances. You may need to provide the bank with your company registration documents and proof of residency for the company directors and shareholders.
Step 7: Register for taxes and social insurance
Register your company for corporate tax, Value Added Tax (VAT), and social insurance contributions with the Gibraltar Income Tax Office. This ensures compliance with Gibraltar’s tax policies and social security system.
Setting up a company in Gibraltar involves several essential steps, from choosing the appropriate company structure to registering with the Gibraltar Companies Registry and tax authorities. By following this guide, you will be well-prepared to take advantage of the numerous benefits of establishing a business in Gibraltar.