Forming A Gibraltar Offshore Company Can Be An Excellent Investment Opportunity

Gibraltar has for long been recognized to be an excellent choice for non-residents to form an offshore company. Incorporating a Gibraltar company is an ideal choice for a non-resident due to numerous advantages that Gibraltar has to offer.

The location of Gibraltar, close to the southern tip of Iberian Peninsula, with Spain in the North, is well suited to business requirements. Being a British territory, it follows almost identical financial regulations which are business friendly.

A company which is non-resident needs to pay only GBP30 as fee for annual filing. This is collected by the Registrar of Companies. It is paid when the annual return is filed. As far as cost-effectiveness is concerned, a non-resident company in Gibraltar is one of the best in the world. The non-resident companies in Gibraltar are not required to disclose their beneficial owners.

Gibraltar does not have any exchange controls and any type of currency is acceptable there.

For formation of a non-resident company in Gibraltar, the formalities are quite simple. Firstly, the owner(s) should not be residents of Gibraltar. The director(s) too should not be resident(s) of Gibraltar. The company is not permitted to get into business deals in Gibraltar involving a resident of Gibraltar. However, it is permitted to have business with qualifying companies, non-resident individuals and other exempts.

The company is required to maintain in Gibraltar a registered office, company register and a resident secretary. The minimum number of directors and shareholders is one each. The company can also have corporate directors. The company is not permitted to remit profits in Gibraltar.

Simply put, some of the provisions of income tax structure, for a non-resident company in Gibraltar, mean that the company should not have any account in any bank situated in Gibraltar and the company has to operate through bank accounts held in other countries. It is advisable for the company to have an account near the place where actual business of the company takes place or where the owners of the company reside.

A company fulfilling these conditions is termed 'non-resident' and is not needed to register for the purpose of taxation. What is more, the company does not fall in the taxation range of Gibraltar. In short, a company which is non-resident is not a taxpayer of Gibraltar.

The standard authorized capital of a company is fixed at GBP 2000 and the paid-up capital should be less than GBP2. It usually takes five days for incorporation of a company.

The filing of accounts in most cases is abridged and is not audited. However, for public companies and large companies these are audited. Keeping all these things in mind, forming a Gibraltar offshore company makes can make business sense for the right type of operation.