Relocating to Gibraltar
Isn't it about time to start thinking about moving to Gibraltar?
There are obviously a number of aspects to consider when choosing a new jurisdiction for your business and/or your family. We believe moving to Gibraltar can tick many of those boxes. Gibraltar's location, two and a half hours flying time from London and other cities across the UK, and within the central European time zone means that there are only advantages to be had from relocating home, business or both here to Gibraltar.
Located on the Mediterranean and in the geographic confines of continental Europe yet endowed with a familiar, reliable and predictable common-law system, you get the best of both worlds. Combine this with the easy and developing connections from Gibraltar Airport to London, Manchester, Bristol, Birmingham and other locations, you have access to a number of international hubs, all within a couple of hours of the Peninsula.
For its size, Gibraltar boasts one the most diversified small economies in Europe with no over-reliance on any one pillar of its economy. Gibraltar's economy is built on our offerings in the Tourism sector, shipping and port services and, of course, financial services.
We have a very well-developed single-day visit tourist product which attracts millions of visitors a year, feeding local small product and service businesses. Gibraltar's location at the entrance to the Mediterranean is also responsible for significant revenues from a well-developed shipping and port services industry.
Financial Services and online gaming has, over the last 30 years represented a large part of Gibraltar's economic development in the years following the UK Ministry of Defence's downsizing of its presence in Gibraltar.
Is the Gibraltar legal system the same as the UK?
Gibraltar has its own legal system, which is based on the English model, with variations introduced by local statutes termed ‘Acts’, from time to time, in keeping with the development of Gibraltar as a finance centre. Gibraltar has a diverse Financial Services offering which currently exploits Gibraltar's status as part of the EU and the subsequent passporting advantages available to Gibraltar licensed institutions. Post Brexit, Gibraltar will become the conduit of choice for European and third party country business from the EU and beyond looking to access the UK market.
This, coupled with a dynamic and approachable Regulator in the guise of the Financial Services Commission makes Gibraltar a very attractive jurisdiction for business looking for a new home.
Gibraltar offers a variety of taxation and financial products, allied to a fully developed industry of Fiduciary Services and vehicles such as protected cell companies, asset protection trusts and a variety of funds products.
Gibraltar Income Tax
In terms of personal taxation, Gibraltar’s high-net-worth individual tax status offers a low tax regime for the wealthy individual looking to relocate whilst the gross income based regime means that anyone making up to £50,000 will pay income tax at a rate of only 25%. No capital gains tax, no wealth tax, no inheritance tax or tax on dividends or pension income add up to more than just an interesting prospect. Gibraltar is today a real alternative.
There are circa 27,000 people in permanent employment in Gibraltar, local and foreign. Gibraltar's location allows it to take advantage of a large number of foreign workers and professionals who take up residence across the border in the local Spanish area whilst working in Gibraltar. More than 50% of school leavers in Gibraltar go on to further education in the UK which puts local UK trained professionals at the disposal of local business. Lawyers, accountants and business graduates are the most common.
The advantages Gibraltar offers are many and varied. It is no coincidence that the biggest names in private and retail banking, insurance and online gaming are proud to call Gibraltar home too. Isn’t it time you made your move?