There are essentially three types of Gibraltar residency available to British/EU nationals and/or other nationals with permission to reside in Gibraltar. The suitability of each option would very much depend on what you are trying to achieve for your tax-planning purposes.
Category 2 Individual Resident
They are typically suited to individuals seeking to extricate themselves from another higher tax jurisdiction, where the tax authorities want to see proof of the individual’s substantial commitment to pay tax in Gibraltar. The applicant has to commit himself to buy or rent (for a minimum period of 1 year), a property of ”prestige” value that has been pre-approved by the Finance Canter as suitable for this type of status applicant (not typically available for purchase by the local tax-payer). The minimum tax contribution in Gibraltar is GBP ₤32,000 per annum (maximum GBP ₤37,310 per annum).
Eligible for Category 2 Individual Resident
Advantages of Category 2 Individual Resident
Annual Responsibilities of the Category 2 Individual
This is not a tax status which means that it does not provide an applicant with a Tax Identification Number. It is therefore typically suited to individuals with relatively high savings or pension arrangements who are not currently tax residents in any particular jurisdiction, but who feel that they need to settle down and show some form of commitment to a particular jurisdiction. At the end of this process, the client obtains a Gibraltar Resident ID Card but does not obtain a health card or any other access to local services unless he volunteers a regular Social Security contribution to the local Tax Authorities. The applicant has to commit himself to buy or rent (for a minimum period of 1 year), a property situated in Gibraltar which does not have to seek prior approval from the Finance Center. No minimum tax contribution.
Ordinary Gibraltar Resident
This status is typically suited to individuals looking to establish a working presence in Gibraltar and to pay tax on their earnings locally either as an employee or as an employer who sets up his own Company to pay taxes at local rates. Minimum tax contribution to be determined based on level of remuneration and commitment to paying Social Security contributions.
Step 1: Check if you need to apply for a Gibraltarian Visa.
Step 2: Know when is the right time to apply.
Step 3: Figure out what type of Gibraltarian visa you need.
Step 4: Find out where you should lodge your application.
Step 5: Fill in the correct Gibraltarian visa form.
Step 6: Collect the documents required for a Gibraltarian visa.
Step 7: Make a visa appointment.
Step 8: Attend the visa interview.
Step 9: Submit your biometrics.
Step 10: Pay the visa fee.
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Privacy World can also help you with incorporating your company in Gibraltar, assisting in getting you settled in the country, and coordinating with you so that this experience will be less hassle.
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Yes, dual citizenship is allowed.
Yes there is an option to include your family.
A person becomes ordinarily resident Gibraltar if they visit or stay for more than 183 days in a year, or more than 300 days in three consecutive years.
English is the official language of government and education, though the most Gibraltarians are bilingual in English and Spanish, and may speak in English dialect known as Yanito (Llanito), which is influenced by Spanish, Genoese, and Hebrew.
Yes, you need to attend for an interview.
It takes 5 years of permanent residence in Gibraltar, it is possible to apply for naturalization in Gibraltar and if the conditions are met.
As a general rule, for the purposes of income tax in Gibraltar, ‘ordinarily resident’ means an individual who, irrespective of whether such an individual is domiciled in Gibraltar or otherwise, in any year of assessment is present in Gibraltar for a period of at least 183 days in aggregate or is present in Gibraltar in excess of 300 days in three consecutive years. ‘Non-resident’ means any person other than a person ordinarily resident.
No and Yes, Gibraltar only taxes income that accrues in or derives from Gibraltar. Tax on non-Gibraltar source income is therefore not generally payable in Gibraltar, and that extends to non-residents who may generate some income in Gibraltar, as long as they do not trade in Gibraltar for more than 30 days in a year.
There are no net worth/wealth taxes in Gibraltar.
There are no inheritance taxes in Gibraltar.