If you are thinking of taking your enterprise offshore, one of the highly revered jurisdictions on the globe is Gibraltar. The British Overseas Territory of Gibraltar is located on the southern part of the Iberian Peninsula south of Spain. It has become a well-known financial hub and many companies that go there grow rapidly and become well-established multinationals. So, how do you register a company in Gibraltar? Here is all that you need to know about Gibraltar company formation.
Benefits of Gibraltar Company Formation
Gibraltar’s long-standing international financial history can be traced back to 1967 when it passed the Companies Ordinance, which was modeled on the UK Companies Act of 1929. The law is designed to help simplify the process of business establishment and growth in Gibraltar, making it one of the most attractive jurisdictions in Europe. Other benefits of incorporating a company in Gibraltar include:
- Incorporated financial companies’ accounting records are not made public.
- It uses the English Common Law System.
- Boasts of modern infrastructure, from inland container depot (ICD) facilities to world-class road network.
- Excellent asset protection laws.
- It is an English speaking jurisdiction.
- Gibraltar has exemplified enviable political and economic stability
- The jurisdiction is a member of the European Union.
Types of Companies that You can Form in Gibraltar
When you decide to open an offshore company in Gibraltar, it is important to start by establishing the type of business that you want to form. The lovely thing about it is that there are many options to consider, including the following:
- Limited liability company.
- Limited liability company partnerships.
- Protected cell company.
Make sure to review your business objective before selecting the preferred company formation. The most preferred business formation is a limited liability company because it offers investors and shareholders better protection for their personal assets. This means that your liability to the company only extends to the shareholding you have in it.
The best way to Gibraltar company formationis using an agency of experts like ICD Fiduciariesbecause they have the experience with the process and can assist with additional procedures, such as drawing the entry strategies, filing tax returns, and accounting.
What Do You Need to Register a Company in Gibraltar?
To register a company in Gibraltar, you are required to have a minimum of one shareholder, which can be a real person of any nationality or corporate entity. The shareholders’ names and details are publicly available, but if you want them to remain confidential, it is a good idea to go for nominee services. Other requirements for registering a company in Gibraltar include:
- A locally registered office. Your company will be required to keep a copy of the register of shareholders in the registered office.
- A resident secretary: In addition to a registered office, you will also be required to have a qualified resident company secretary. This person serves as the link between the company and the Gibraltar administration.
- The necessary documents: Before you can submit the application for company incorporation, you also need to prepare all the required documents. These include copies of Articles of Association, and copies of passports of directors. A reference from a registered professional will also be required.
How to Register a Company in Gibraltar
Gibraltar offers its foreign companies an excellent place for them to run their businesses and grow rapidly because of the easy access to the EU market and tax incentives. Although the process of registering a company in the jurisdiction has been simplified so much in comparison to other countries across the globe, it is still challenging to some investors.