We can also facilitate the physical relocation of our clients and their family.Europa Trust Company is authorised and regulated by the (Gilbraltar) Financial Services Commission (FSC) permission number 1482.
This equates to a maximum tax payable of £29,940 (an effective rate of 24.95%).Europa Trust Company can assist you or your clients to make the application, to find a suitable property and to meet the Finance Director’s requirements. The amount of tax payable to the Gibraltar Government currently ranges between a minimum of £22,000 and a maximum of £27,560 per annum maximum. The moderate climate, Mediterranean lifestyle and Gibraltar’s reputation as an established finance centre, attracts ordinarily resident individuals as well as High Executives Possessing Specialist Skills (HEPPS) and High Net Worth Individuals (HNWIs).HEPPS can establish an efficient tax residency in Gibraltar which caps that individual’s tax liability.The moderate climate, Mediterranean lifestyle and Gibraltar’s reputation as an established finance centre, attracts ordinarily resident individuals and High Executives Possessing Specialist Skills (HEPPS).
Value added tax. Gibraltar is rich in history and offers and array of attractions such as the upper rock, the Moorish Castle, St. Michaels Cave, the Great Siege Tunnels, the dolphin trips, the botanical gardens, commonwealth park and the Gibraltar museum to name a few. They need to buy or rent a suitable property in Gibraltar and, upon their application being accepted by the Finance Centre Director, they will be able to limit their tax liability to the first £120,000 only.
A return, with the local Tax Authorities, needs to be filed by 30th November each year. The precise amount of tax will depend upon: (i) how much money is remitted to the applicant in Gibraltar and (ii) the amount of taxable income earned by the applicant within Gibraltar in each financial year. Education and public medical care is of the highest level. Tax is payable only up to the maximum assessable income of £80,000. These individuals must earn more than £120,000 per annum. If you are looking for a change of lifestyle, you will find that Gibraltar holds many attractions. We can also facilitate the physical relocation of our clients and their family.HNWIs can establish an efficient tax residency in Gibraltar which caps that individual’s tax liability.Tax is applied to the first £80,000 of taxable income only. The accommodation must be of a certain standard appropriate to sustaining the lifestyle of a wealthy individual.The applicant is required to apply for ‘Residential Accommodation Approval’ from the Finance Centre Director. This tax residency status is aimed at individuals with specialist skills, who come to work and live in Gibraltar. Further, he or she must not have been engaged in a trade, business or employment in Gibraltar other than duties incidental to any trade, business or employment based outside Gibraltar.The spouse or child of a Category 2 individual may elect to benefit from the terms of the same certificate.There is no specific legal requirement as regards the length of stay in any particular year.
Non-monetary assets such as shares and property are acceptable upon production of suitable documentary evidence of value such as an accountant’s valuation or surveyor’s report.A residential property approved by the Finance Centre Director must be purchased or rented within two months of being granted Category 2 Residence.A non-refundable application fee of £1,000 is payable to the Gibraltar Government.There is provision in the law to allow spouses and children (under 18 or in full time education) to be granted Category 2 Residence under the same certificate as the principal applicant.HEPPS status allows specialist skilled workers who earn more than £120,000 per annum to have special fiscal status in Gibraltar.
All the commercial and business facilities and high quality professional services which may be required also exist.An EU national, as of right is entitled to live and work in Gibraltar. Gibraltar Category 2 tax residency rules. However, this restriction is currently under review and may result in a legislative amendment.In the interim, as a general rule, Category 2 individuals are permitted to invest in or do business in Gibraltar so long as any assessable income is subject to taxation. The individual must possess specialist skills (or have experience) that are not generally available in Gibraltar and which will promote and sustain activity that is considered of economic value to Gibraltar. Tax Residency in Gibraltar Tax Residency in Gibraltar. The maximum amount of Category 2 tax payable for the tax year 01.07.2015 to 30.06.2016 is £27,560 as set out below: There are no allowances or deductions. At the time of the application or within two months of the issue of the certificate, the individual is required to submit a copy of the deed of title or the rental contract.The applicant is required to submit two character references from recognised and established professionals (one of which must be from a bank and the other from a law or accountancy firm), a copy of his or her passport, a curriculum vitae and proof of his or her financial standing.
This enables a non-Gibraltar resident to obtain tax residence in Gibraltar thus avoiding paying personal taxes in his/her own higher tax jurisdiction.Bank statements or letters from a bank manager or accountant are acceptable as proof of wealth.