| Gibraltar Exempt Tax Companies | ||||||||||||||||||||||||
| TAX EFFICIENCY AND QUALITY SERVICE | ||||||||||||||||||||||||
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THE TAX EXEMPT COMPANY is the the most popular off-shore vehicle in Gibraltar. Such a Company is exempt from all taxes, estate duty and stamp duty in certain cases, and only pays an annual fee of �225.00 to the Authorities, so long as it complies with the terms of its exemption certficate. Also, fees paid by an exempt company to its non-resident directors, and dividends payable to its shareholders, are not subject to a withholding tax. This type of company is normally used for property holding, private holding, private investments and even for international trading situations in a tax efficient way. | |||||||||||||||||||||||
| MAIN CRITERIA | ||||||||||||||||||||||||
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For a Company to obtain and retain its tax exempt status the main criteria it must comply with is as follows: 1. No Gibraltarian or resident of Gibraltar must have any beneficial interest in its shares. 2. It must not trade or carry on business in Gibraltar or with Gibraltarians or residents of Gibraltar (NB Banking and other support services are not deemed as 'Trade'. 3. No changes in its shareholders, beneficial ownership or objects for which the company was formed can be made without approval of the authorities; and 4. Its directors must confirm annually that the Company is not in breach of the provision of the Companies (Taxation and Concessions) Ordinance. | |||||||||||||||||||||||
| Criteria for 'exempt' status | ||||||||||||||||||||||||
In order to qualify for "exempt" status one would have to submit to the Financial and Development Secretary (together with the application form) the following: | - A reference from a banker, lawyer or accountant for each shareholder/beneficial owner, and, if the ultimate beneficial shareholder of the Company is a Corporate Body; - A certificate from the Corporate Body that no Gibraltarian or resident of Gibraltar has any beneficial interest in its shares.
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