| Although residents of Gibraltar
pay reasonably high income taxes, and there
is estate duty, there are several tax-efficient
mechanisms for making investments through Gibraltar.
Non-residents are taxable on their income received
in Gibraltar, but not if it is channelled through
a trust or
an exempt
company (although exempt companies were removed
completely as a corporate vehicle by the end
of 2010). Also bank interest is exempt from
tax, although the EU's Savings Tax Directive,
which came into effect in July, 2005, means
that payments of interest and other savings
returns made to EU citizens are reported to
their home tax authorities.
Residents have traditionally been able to make
use of High Net-Worth
Individual (HNWI) status, and some expatriate
executives were given tax-privileged regimes;
in both cases the total tax bill was capped,
so that additional income over the cap was free
of tax.
High Net-Worth Individuals have traditionally
been permitted to hold shares in an exempt company,
and to hold deposits in Gibraltar banks; income
from these sources has only been taxable (for
the company) if paid to the HNWI for his own
use in Gibraltar.
(NB: In July 2002 Gibraltar's Chief Minister,
Peter Caruana announced a new corporate taxation
policy, which was updated again in 2007, following
a long-running dispute with the European Union.
See Direct Company Taxation
for full details).
For full information on the available types
of corporate entity, fees payable and the taxation
system in Gibraltar, see the Gibraltar
Fact-File.
The main types of investment available through
Gibraltar are as follows:
- Gibraltar Investment
Funds
- Gibraltar Real Estate
- Gibraltar Pension Investments
- Gibraltar Bank Deposits
For contact details for the providers of
financial services in Gibraltar visit the Gibraltar
Services Directory.
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