If you are planning to start your enterprise offshore, an amazing jurisdiction to consider is the famous region of The British Overseas Territory of Gibraltar. Gibraltar has recently maintained its position as a financial hub. Many companies that are being incorporated there are known to be growing at a much larger pace accounting for a lot of economic growth in this region. It is located in the southern part of the Iberia Peninsula, south of Spain. Registering in Gibraltar has led many companies to secure multinational standards. Do you know how to register your company in Gibraltar?
Gibraltar Company Foundation: Core Advantages
In 1967, Gibraltar passed a Companies Ordinance based on the UK Companies Act of 1929. This event marks the persistent financial history of Gibraltar. This was because the law eased the process of incorporating and growing as a company in Gibraltar, establishing it as one of the most renowned jurisdictions in Europe. Few other attractions to open a company in Gibraltar are as follows:
- The use of the English Common Law System
- Well-established asset protection laws
- Incentives like Inland Container Depot (ICD) and world-class road networks
- An English speaking jurisdiction
- Privacy and security of incorporated financial companies’ accounting records
- Exceptional political and economic stability
- Gibraltar is a member of the European Union.
What Types of Companies Can Be Formed in Gibraltar?
An important aspect to consider before starting an offshore company in Gibraltar is deciding which kind of enterprise you wish to establish there. On a brighter note, there are many options in this regard, from which you can choose the most suitable one:
- Limited liability company
- Limited liability company partnerships
- Protected cell company
In order to make the best choice for your business, you should thoroughly review your business objectives first. The highest favored form of company in Gibraltar is the limited liability company. This is due to the advanced protection of assets that this formation offers to its investors and shareholders. This implies that you are only liable to the company for the shareholding you have in it.
If you are planning to incorporate your business in Gibraltar, you should consult an agency of experts to help you through the process of registration. They also extend their additional assistance for procedures like filing tax returns, accounting, or creating efficient strategies.
Register A Company in Gibraltar: What Do You Need?
The major requirement in order to proceed with the registration of a business in Gibraltar is the presence of a minimum of one shareholder. The shareholder needs to be a real person regardless of any nationality or corporate entity. The basic details of the shareholder are generally publicly available. However, you can choose to keep these details confidential by opting for nominee services.
Other primary requirements to register a company in Gibraltar are as follows:
- You need a locally registered office where your company will be required to keep a copy of the register of shareholders.
- You will also require a qualified resident company secretary who will serve as a communication link between your company and the Gibraltar administration.
- You need to gather all the required documents before you finally submit your application to register a company in Gibraltar. These necessary documents include copies of Articles of Association, copies of directors’ passports, and the reference from a registered professional.
How to Register a Company in Gibraltar?
Due to the jurisdiction’s ease of access to the EU market and exceptional tax incentives, foreign companies here are ought to grow and succeed rapidly. However, even though the registration process in Gibraltar has been modified and simplified to a very larger extent, some investors still find it complex.