Gibraltar presents an enticing proposition for anyone considering establishing a company there. This tiny territory, located at the southern tip of the Iberian Peninsula, is an idyllic oasis that doubles as a robust business hub with various attributes in favor of encouraging entrepreneurship and company set-ups. Below are the reasons why one should consider opening a business in Gibraltar.
Gibraltar is well regarded for its attractive and competitive tax structure. The corporation tax is relatively low at 10%, and no VAT is applied, which significantly enhances the profitability of businesses. Its unique tax status also includes no taxes on capital gains or wealth, making it compelling for entrepreneurs and companies to set up businesses in Gibraltar.
Gibraltar provides businesses easy access to markets in Europe, Africa, and the Middle East. This strategic geographic location coupled with excellent marine, air, and digital connections make it an efficient and effective hub for business operations.
Political Stability and Regulatory Environment
Gibraltar, as a British Overseas Territory, benefits from political stability, offering a secure environment for businesses. Its robust and reliable regulatory framework, overseen by the Gibraltar Financial Services Commission (GFSC), is another factor making it a promising destination for businesses, specifically those dealing in financial services and FinTech.
English Common Law
Gibraltar operates under English common law. This legal system, well-established and understood globally, gives companies the confidence that contracts and agreements will be honored and protected as they would in the UK and other common law jurisdictions.
Efficient Business Processes
The efficiency of Gibraltar’s company registration process is another appealing aspect. The entire process of setting up a azienda a Gibilterra can be completed within a span of a few days. Furthermore, the presence of a wide range of skilled professionals – accountants, lawyers, brokers, and others – makes the business set-up process smooth and trouble-free.
Gibraltar is positioning itself as a pioneering center for digital services, particularly blockchain technology companies, and is one of the first jurisdictions globally to regulate and licence Distributed Ledger Technology (DLT) providers. This forward-thinking framework facilitates innovation and sustainable business development.
EU Market Access
Although Brexit has slightly affected Gibraltar’s condition, agreements between the UK and Spain assure the Territory will continue to have fluid access to the EU single market. It maintains its allure for companies looking to operate within the European marketplace.
Quality of Life
Beyond the business considerations, Gibraltar offers a high quality of life. It boasts a great climate, stunning landscapes, a rich cultural history, and an English-speaking population, which provides a suitable backdrop for expats relocating to man their businesses.
Finally, there’s a clear trajectory of growth and prosperity in Gibraltar, with many businesses thriving in this small but dynamic jurisdiction. This is an ecosystem that supports business growth and encourages innovation. Be it for tax advantages, a strategic location or an attractive regulatory environment, setting up a company in Gibraltar offers a myriad of opportunities.