How to incorporate company in Gibraltar?
Before you choose to incorporate company in Gibraltar, Tetra Consultants advises you to read through this guide to fully understand the steps required for successful incorporation.
Simply put, we can break down each engagement into three different phases:
- Planning & strategy
- Incorporation & bank account opening
- Staying compliant
By systematically following the above three phases, you can expect to start conducting business with your Gibraltar company within 5 weeks.
Planning & strategy
- Depending on your business goals and activities, Tetra Consultants will recommend the most suitable business entity. Prior to incorporating a company in Gibraltar, you will be advised on the optimum paid up share capital, corporate structure and whether there is a need to apply for any licenses.
- Tetra Consultants reserves your preferred company name with the Gibraltar Companies House. You will be provided with a local registered office address and company secretary. These are mandatory requirements before the government can approve company registration.
- The company secretary will serve as the contact person between you and the Gibraltar government.
- Tetra Consultants will draft the incorporation documents including articles of association, business plan and shareholding structure. Once confirmed, we will submit the same to the Gibraltar Companies House.
Incorporation & bank account opening
- On average, the company will be successfully registered within 5 business days. Upon successful incorporation, Tetra Consultants will immediately courier the corporate documents to you.
- Some examples of these documents include the Certificate of Incorporation, Memorandum & Articles of Association and Register of Directors and Shareholders.
- Simultaneously, Tetra Consultants will proceed to open a corporate bank account for your newly-incorporated company. You can enjoy leveraging on our extensive banking network and receive your bank account numbers within 4 weeks.
- Tetra Consultants will contact multiple reputable international or Gibraltar banks and present your business to each relationship manager and compliance team. Our tax team will advise on the corporate tax rate that your company will face, depending on which jurisdiction you decide to open your corporate bank account.
- Depending on the intended business activity and nationalities of shareholders, Gibraltar or international banks may conduct enhanced due diligence. The bank officer may revert asking for additional supporting documents or business proofs.
- In the event of this happening, Tetra Consultants will communicate effectively with all parties and ensure the additional documents are prepared immediately.
- In most cases, Gibraltar banks will not require you to travel for corporate bank account opening. If travel is required, Tetra Consultants will negotiate for waiver on your behalf.
- On average, the corporate bank account will be opened within 4 weeks after Gibraltar company incorporation. Tetra Consultants will courier the internet banking token and access codes to your preferred addresses.
Staying compliant
- You can be confident you are in the best hands when Tetra Consultants undertakes your Gibraltar company’s accounting and tax services.
- Tetra Consultants will timely prepare your firm’s financial statements, corporate tax returns and bookkeeping on your behalf.
- Tetra Consultants will complete all annual filings and tax returns for your company before the stipulated deadlines set out by the government.
- If you plan to work in Gibraltar, Tetra Consultants will secure a work permit for you.
Contact us to find out more about how to incorporate company in Gibraltar. Our team of experts will assist you through the entire process of Gibraltar company registration and revert within the next 24 hours.
FAQ
Why Do Companies Set Up In Gibraltar?
- Gibraltar’s corporate tax rates are exceptionally attractive, making it an ideal location for foreign investors. A significant advantage of Gibraltar firms is that they are not taxed on profit if the profit is derived from operations outside of Gibraltar; thus, all profits made outside the country can be retained by a local company and remain tax-free.
What are the types of business entities available in Gibraltar?
- Gibraltar has a diverse range of business entities available which includes limited liability companies, limited liability partnerships, limited partnership, an ordinary partnership, protected cell companies, trusts, and foundations.
Can a foreigner own a business in Gibraltar?
- Yes, Gibraltar allows 100% foreign ownership (companies are not even required to have a local director) and does not differentiate between domestic and foreign investment sources, doing business in Gibraltar is remarkably easy for both residents and non-residents.
What are the minimum requirements for setting up Gibraltar LLC?
- The Companies Act requires all companies to have a registered office to be allowed to conduct business operations in Gibraltar. Gibraltar LLC must also have at least one shareholder (need not be resident), one director (need not be resident), and a local company secretary.
Does setting up an offshore business require local directors/shareholders?
- No, Gibraltar offshore business does not require local directors or shareholders.
How much does it cost to set up a company in Gibraltar?
- Depending on the services you require from Tetra Consultants, the total engagement fee will differ. Our services include planning and strategizing with your company, assisting you in the incorporation process, ensuring that you are compliant, and more. This total fee includes the registration fee charged by the Gibraltar government.
What are the annual reporting requirements for the company set up in Gibraltar?
- All the companies in Gibraltar must minimally prepare their annual financial records and annual company report to be presented in an annual general meeting to be held at least once per financial year. However, only banking and insurance companies and large companies are required to prepare the unabridged balance sheets and are subjected to audit requirements.
What is the corporate tax rate in Gibraltar?
- Companies set up in Gibraltar are subjected to corporate tax at the rate of 10%.
What are the documents needed for the registration of a company in Gibraltar?
- To proceed with company registration in Gibraltar, for a start, you are required to provide the notarized passport copy, proof of address, CV, and proof of income of the individual director and shareholder of the company.
- If the shareholder is another entity, we will require the Certificate of Incorporation and Memorandum and Articles of Association of the corporate shareholder.
- Once Tetra Consultants receives the above, we will review the documents and provide you with an updated due diligence checklist with the list of outstanding documents.
