Your
turn key GIBRALTAR Company.
Advent UK creates your Company in Gibraltar, for you wherever you are
resident.
COUNTRY:
Gibraltar
Gibraltar Offshore Company Tax-exempt or Non-resident Company
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SOME
LEGAL EXPLANATIONS:
Legal
form: There are four legal terms by which companies can be formed,
they include: Gibraltar 1922 Companies, Exempt Companies, Qualifying
Companies and Non-Resident controlled Companies. A duly incorporated
limited liability company constitutes a separate legal entity and may
sue and can be sued in its own name. Limited Liability Company may take
the form of a private company either limited by shares or by personal
guarantee of its members or public company. By far the most usual form
that businessmen and/or corporations prefer is the private company limited
by shares.
Name
of the company: Gibraltar companies must use the suffix Limited
or Ltd. to denote limited liability and can use any name unless it includes
words such as Empire, Crown, Imperial, Windsor, Royal, Chartered or
Municipal. Special consent is required for names such as European, Gibraltar
or International.
Memorandum
and Articles of Association: To register a limited liability company,
Memorandum and Articles of Association must be prepared by a licensed
law practitioner and filed at the Office of the Registrar of Companies.
Memorandum specifies the activities in which the company may engage
and Articles of Association specifies the rules governing the internal
management of the company.
Shareholders:
The number of shareholders in a private Limited Liability Company may
be from 1 to 50. In the case where there is a sole shareholder, who
may be corporate or individual, the Memorandum and Articles of Association
should include a special provision stating that there is only one shareholder
in the company. Details of shareholders appear on the public file but
anonymity can be preserved by the use of nominee shareholders. Bearer
shares cannot be issued.
The
minimum share capital: Gibraltar limited liability company may be
registered with authorized share capital of 2,000 pounds, which is the
maximum share capital that attracts the minimum capital duty.
Directors
of the company and company secretary: The minimum number of directors
is one, who may be corporate or individual. The full name, nationality,
residential address and occupation together with copy of the passport
are required. Details of the directors appear on the public file but
anonymity can be preserved by the use of nominee directors.
Registered
office and secretary: Every company, registered in Gibraltar is
required to have a registered office and address in Gibraltar, which
should be notified at the Registrar's Office. It is also practical that
a Gibraltar resident company secretary is appointed.
Non-resident
status: In order to qualify for non-resident status, company must
be managed and controlled from outside Gibraltar. It is not subject
to any local taxes except for corporate tax on profits remitted to Gibraltar.
Non - resident controlled companies are permitted to trade within Gibraltar
and with Gibraltarian companies, but in this case will be subject to
Gibraltar corporate tax at 35%.
The requirements for non-resident status include:
a.) The company must be completely owned by non-residents. Residents
and Gibraltarians may not hold any shares or interests in the company.
b.) Directors can be of any nationality and must not reside in Gibraltar.
c.) All board meetings must take place outside Gibraltar.
Tax
Exempt status: Following an agreement between the Gibraltar Government
and the EU in February 2005, it has been announced that the Tax Exempt
regime will come to an end on 31 December 2010. New applications can
still be made until 30 June 2006 although such applications will only
be approved if "real economic benefit to Gibraltar" can be
shown. In practice this means that applications are unlikely to be successful.
Audit
and financial returns: All Gibraltar registered companies must file
annual returns showing details of shareholders and directors and must
submit their accounts with the Registrar.
Meetings:
Company meetings need not be held in Gibraltar.
Time
needed for formation: Usually it is 10 working day, but we need
up to 30 working days for legalization of the documents and delivery
by courier.
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can now start your activity without extra expenses. Contact
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