Economy of Gibraltar

It is the service sector that constitutes the largest part of economy of Gibraltar. Gibraltar is a British Overseas Territory but Gibraltar has a separate legal jurisdiction from the United Kingdom. Gibraltar is a part of the European Union.

Gibraltar has a separate system for taxation. The current economy of Gibraltar is mainly based on tourism industry, shipping industry, financial services and the use of internet services, which is mostly done for online gambling.

The economy of Gibraltar is in a good shape and the Gibraltar government finances is healthy, robust, solid and stable, despite the turmoil in global economic and financial scenario, as stated by the Chief Minister of Caruana, in his budget speech in the year 2009.

Gibraltar is a place that has a functional stock exchange. This stock exchange is known as Gibraltar stock exchange. Gibraltar is also one of the largest bunkering ports for the global shipping industry, delivering more than 4.3 million tonnes of bunkers, delivered only during the year 2007.

Gibraltar has joined the European Economic Community with the United Kingdom, in the year 1973. Gibraltar is a special member of State territory and a constituent part of European Union. All the financial institutions those are operating within the territory of Gibraltar are regulated by Gibraltar Financial services Commission.

Gibraltar is a territory that is absolutely self sufficient in economy. Gibraltar is greatly benefited from an extensive trade of shipping, making Gibraltar self sufficient in economy and finance. Gibraltar has a great deal of off shore banking also. Gibraltar is also an international conference centre.

Tax rates at Gibraltar are kept low to attract foreign investments in the territory. Gibraltar has made a major structural change from a Public sector to a Private sector economy.

The GDP of Gibraltar is $ 2.044 billion in the year 2014. Gibraltar is an area which does not have any population below poverty line.

Why form an offshore company in Gibraltar?

Gibraltar is a unique tax haven as it is the only region that has been a part of the European Union (EU). This region is best known for its trusts. Trusts that generate income from the overseas and are created by foreigners are exempted from income tax. Geographically it is very strategically located where half the world’s trading naval ships passes through its strait.

Form an Offshore Company in GIBRALTAR

Benefits of Forming an Offshore Company in Gibraltar

  1. 0% income tax
  2. 0% tax on capital gains, inheritance tax
  3. 48hrs to incorporate a company
  4. Excellent economical and geo political status
  5. Full ownership for foreign investors
  6. Fast and efficient incorporation process
  7. Minimum government fees is £55 (excluding taxes)