Gibraltar, probably the cheapest offshore jurisdiction within Europe, offers unique opportunities to do business tax efficiently. It was one of the first British dependent territories, which developed tax-exempt corporate forms for offshore business.
Gibraltar possesses and excellent offshore business infrastructure, consisting of numerous sectors - offshore banking, insurance, investment fund management, investment holding companies. There is a good range of professional services in Gibraltar. As there is no exchange controls, investors enjoy complete freedom to remit funds into or out of Gibraltar and to convert funds to other currencies. The currency is Gibraltar Pound, which is on par with the British Pound Sterling.
Gibraltar taxation system is similar to that of the United Kingdom, however there are number of important differences. Key incentives include:
• No VAT or other sales taxes
• No capital gains tax
• No wealth tax
• No inheritance or gift taxes or estate duty
• Tax-efficient opportunities for international business
• Tax-efficient opportunities for high net worth individuals and relocated executives possessing specialist skills.
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