Decrease text size Decrease text size
Increase text size Increase text size

 

 

 

 

 

SPONSORS

Adverts Welcome

 

 

 

 

Despite its size and population, Gibraltar has many professional services and business opportunties.

There are many UK qualified barristers (Gibraltar's legal system does not have solicitors though many solicitors may practice at certain levels).

Many law firms will work in in the finance sector. Several will work in property and conveyancing. There are several law firms, the largest being Hassans.

There are a number accountants, dentists, doctors, architects, surveyors, engineers (structural and civil), constructors, etc.

The Jewish community itself can boast of a number of barristers, a dentist, an engineer, two architects, two surveyors, a builder, two accountants, a doctor, a reflexologist, a speech & language therapist, an opthalmologist, etc.. Most of the other members are in business.

There are also the following services in/for:

• Banking Sector with offshore expertise and services
• Investment
• Trust and Company Management
• Insurance
• Commercial Trading Companies, Betting & E-Commerce Industry
• Gaming Industry
• High Net Worth Individuals
• Stock Exchange
• Investor Funds

Gibraltar enjoys a unique status as an offshore centre within the European Union. Taxation in Gibraltar is generally modelled on that of the UK, but its status as an offshore financial centre means that subject to a series of requirements, it can offer a far more tax-effective environment. Gibraltar is a well-regulated jurisdiction, meeting all European Union and OECD requirements. It has been described as a benchmark in the regulation of international finance centres.

Gibraltar therefore enjoys the stability and support of being within the European Union whilst still retaining the advantages of being an international finance centre. Gibraltar’s unique status among International Offshore Centres in relation to the EU makes it the jurisdiction of choice for certain types of investor or trader. It has well-regulated banking, investment management, insurance and shipping sectors, as well as advantages for high net worth individuals seeking to structure and conduct their affairs in a more tax efficient manner.

BANKING SECTOR


The banking sector is well established in Gibraltar in both the offshore and local market. As a location Gibraltar presents a series of advantages for all banks: confidentiality; sterling currency and no exchange controls; low corporate taxation levels for offshore banks; English language and European time zone; first class communications. The most important of these is perhaps the existence of the “single passporting agreement” which enables banks established in Gibraltar to set up branches elsewhere in the EU and vice versa.
Much of the banking activity in Gibraltar is directed to asset management for high net worth individuals. The identity of bank account holders in Gibraltar is confidential and is only disclosed by the bank if they are ordered to do so by the Courts when investigating serious criminal activity.
An institution may be authorised to conduct banking business in or from within Gibraltar in one of three different ways.
Locally Incorporated Institution – There are currently 20 Gibraltar licensed banks providing a broad range of banking services.
European Authorised Institutions – These are branches of banks established elsewhere in the European Community and operating in Gibraltar under the ‘single passport’ agreement. There are presently four branches in Gibraltar providing a full range of retail services for both individual and corporate customers.
Third Country Branches – This type of authorisation relates to branches of banks set up in non-EEA countries.
Twenty-four well-known international and national names presently provide banking services in Gibraltar.

INVESTING


There is a lively investment management sector in Gibraltar. Equally a range of opportunities exists for unit trusts, mutual funds and other investment vehicles to be controlled from Gibraltar.

This sector also enjoys the benefits of passporting rights, hence allowing local investment firms in Gibraltar to offer services to individuals in other EU Member States.

Some of the benefits arising from a Gibraltar controlled operation include: no tax on capital gains or profits; no withholding tax on fund distributions to shareholders; no capital acquisitions tax is chargeable to persons who receive shares by way of gift or inheritance; fund vehicles may be organised.
In 2005, Gibraltar introduced Experienced Investor Funds under the Financial Services (Experienced Investor Funds) Regulations, 2005. These are funds designed for professional, high net worth or experienced investors, typically with net worth in excess of €1,000,000.

Read More..

TP

Adverts Welcome