Gibraltar Company Formation - Create Offshore Company In Gibraltar Easily
The Gibraltar non-resident company and has been long recognized as an excellent alternative to the Irish non-resident company which itself was very popular as an offshore vehicle until 1999. As a matter of fact, many of the Irish non-resident companies were re-domiciled to Gibraltar. The Gibraltar non resident company is also in many ways similar to the pre-1988 non resident company of the UK.
A Gibraltar non resident company only pays a small annual filing fee to the Registrar of Companies, payable at the time of filing of the Annual Return. Quite often the non-resident company is directed by the beneficial owners themselves, or by nonresident third-party directors appointed by the owners. The non-resident company will still need to maintain a registered office in Gibraltar and to have a Resident Secretary - these functions are provided at a competitive fee.
The Gibraltar non-resident company has probably been the most cost efficient offshore vehicle in Europe in the past. It also competes very well worldwide under the same criteria. You can also get the best Gibraltar company formation as you create an offshore company in Gibraltar quite easily through our formation experts.
Detailed features of the non-resident company
To be a non-resident company, a Gibraltar-registered company has to satisfy the following criteria.
- The company must be owned by persons, who are not resident in Gibraltar.
- The company must be controlled (directed) by persons who are not resident in Gibraltar.
- The company may not trade or carry on business in Gibraltar with residents of Gibraltar. It may however trade with other exempt or qualifying companies or non-resident persons.
- The company must maintain its Company Register, Registered Office and Resident Secretary in Gibraltar.
- The company must not remit income to Gibraltar.
The last requirement effectively means that in order to maintain its no-tax status a Gibraltar non-resident company should not hold any bank accounts in a Gibraltar-situated bank. This simply means that the non-resident company would usually operate its bank accounts in another country. Often it would be just a different offshore jurisdiction - like, Isle of Man, for example. It may also be practical to open the offshore bank account in a country situated closer to the place of the actual business of the company - or near to the actual location of its beneficial owners.
If the above five criteria are satisfied, a Gibraltar company will be considered "non-resident". As such, it will not fall under the Gibraltar tax system by definition and will not be required to register for Gibraltar taxation purposes. This also means that, unlike the old tax-exempt company, the non-resident company can in no circumstances be considered as a Gibraltar taxpayer.
This company can be used for Internet business, and will work with a variety of payment processors. So if you are dead set on using a Gibraltar company here is a testimony in quotes below from someone who chose the Gibraltar non-resident company for his biz.
"I run a website business which makes its revenues on subscriptions. I have been doing this since 2000 (12 years). I have seen billing companies come and go, and payroll companies come and go. The list of fossils is long and full of history, each one dying and each one leaving me holding the bag and trying to claim thousands in losses which were always promised to be paid but then never were.
The most horrible were iBill (who blew up with some $36,000 owed to me),......... and ePassporte (the most recent). Since policies change regularly within companies as well as countries and states, in my experience you pretty much have to change your game plan every few years and jump ship to a new processor and/or jurisdiction.
The latest change in Visa’s US regulations pretty much kicked me out of the USA; due to the nature of the content I sell, which clashed with some of their new policies, I had to reincorporate overseas in the EU, where the same Visa corporation has more lax regulations.
I chose Gibraltar because of their nonresident corporation structure: if you do not reside, do business in, or bank in Gibraltar, you are exempt from income and VAT taxes. Gibraltar is also on the list of approved countries for Visa online merchant services; not all are. It was a toss-up between Gibraltar and Cyprus, and I chose the former because of the lower cost of maintenance.
I use xxxx as a transaction processor (also same company as in the USA, just their EU faction with looser EU regulations)." (end of quote) The xxxx was used as an editor's change to the exact name of the payment processor that is being used by the client of the non-resident Gibraltar company. That payment processor will be revealed to all of our clients who purchase the payment processors and merchant accounts package.
Update: A client wrote to us recently with this warning: "I was closely inspecting Gibraltar (even I have visited it last week) due to it's several advantages particularly for our industry. Corporate tax isn't a big problem here when I look at all other advantages. However, from what I found after discussing with Gibraltar tax advisors that right now there is a serious banking problem here: two big banks moved out of Gibraltar this year and its extremely difficult (costly) to bank there. That a biggest issue here. But if you want Gibraltar as a non-resident company then this is not a problem.
U.S. Citizens and residents click here for a special package designed specially for you.
Warning: We do not sell the Gibraltar non-resident company package to citizens or residents of the United States (the land of the used to be free). We are very sorry that we feel this way, but neither you or I am to blame. If you want to implement global wealth protection strategies for your own particular situation and needs, then please get together with a global asset protection specialist in your own country.