Commonwealth of Gibraltar Gibraltar is a peninsula of approximately three square miles at the southern most tip of Spain. It is one of the legendary Pillars of Hercules, poised between the two continents of Europe and Africa and guarding the gateway to the Mediterranean. The official language is English, but most of the 30,000 inhabitants are bilingual in English and Spanish. The official currency is the British pound, although a local Gibraltar pound circulate along side and at par with the British currency. There are no exchange controls. Gibraltar has been a Crown Colony of the United Kingdom since 1713, enjoys political stability, and its sovereignty is assured by the Gibraltar Constitution in which Britain undertakes never to enter into arrangements which would place the people of Gibraltar under the sovereignty of another state against their freely and democratically expressed wishes. Defence, foreign policy and internal security remain the responsibility of the United Kingdom who appoints the Governor as the representative of the Crown in Gibraltar. Gibraltar non-resident company is not taxable in Gibraltar. It is a company, which is incorporated in Gibraltar, owned by non-residents and controlled by directors who reside and hold board meetings outside Gibraltar. Non-resident company is offshore business form, which escapes taxation on foreign income. The Companies Taxation and Concessions Ordinance (amended) introduced the exempt taxation status for companies trading outside Gibraltar. A company registered in Gibraltar will not be liable to Gibraltar taxation, including income tax and estate duty, if it's owned and controlled by non-residents of Gibraltar, does not trade in Gibraltar and does not remit income to Gibraltar. Company Statute: Non-Resident Company Taxation: A non-resident company is not subject to local corporate tax, except for the part of profits remitted over to Gibraltar. It means that those companies without local bank accounts may not be taxed. Shareholders/Members: Following the Companies (Amendment) Ordinance 1992 a Gibraltar company can now have one sole shareholder. The maximum number of shareholders in a private company is 50 and there are no restrictions relating to the nationality of shareholders. Directors/Managers: A Gibraltar company can have a sole director, who may be a corporation or individual person. Registered Office Required Yes. Non-resident company though must maintain local registered office with a local corporate secretary. Registered Agent Required: No Name Restrictions: The government by legal notice published a list of sensitive names for companies. That is any name that is identical or similar to an existing company; any name, which is undesirable or offensive, by the opinion of the Registrar, any name which suggests royal or government patronage, or which may imply a field of activity associated with the banking or finance industry. "Association", "Bank", "Imperial", "Assurance", "Group", "International", "Royal", or "Trust" and any derivatives thereof usually require special permission. Annual Report: Annual report is required. Annual Report/Licence Fees: A non-resident company pays an annual tax of £225.

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