Gibraltar Non-Resident Company

Gibraltar non-resident corporation is a company incorporated in Gibraltar, owned, managed and controlled by non-residents. The company status is legally supported by the Gibraltar Companies Ordinance, based on the Companies Act 1929 of the United Kingdom.

Non-resident company is free to engage in many types of business activities, paying no taxes in Gibraltar provided it remains in compliance with the 'non-resident' rules of Gibraltar outlined above.

The non-resident companies are never described as offshore in the legislation of Gibraltar. The non-resident company is not subject to the fixed rate annual duty and other fees.

Gibraltar Tax Authorities treat a company as non-resident, that is, not liable for taxation in Gibraltar, based on the following criteria:

A company registered in Gibraltar has to satisfy the following criteria to be treated by country's tax authorities as a non-resident company, that is, not liable for taxation in Gibraltar:

- Beneficial Owners of a Company must be non-residents of Gibraltar;

- Directors and shareholders of the Company must be non-residents of Gibraltar;

- The company trades or carries on business exclusively outside Gibraltar. It may however trade with non-residents of Gibraltar;

- The company must maintain its Company Register, Registered Office and Resident Secretary in Gibraltar;

- The company must not remit income to Gibraltar that is, should not hold any bank accounts in a Gibraltar bank.

The last requirement means that the non-resident company would usually operate its bank accounts in another country, very often in another offshore jurisdiction. Sometimes offshore bank account for a company is opened close to the place of actual business of the company, or to the actual location of its beneficial owners.

The company that satisfies all the above criteria is considered 'non-resident'; it will not fall under the Gibraltar tax system by definition, and will not be required to register for Gibraltar taxation purposes.

Gibraltar non-resident company is also required to state its license number on all letters and advertising. The companies are inspected by the Financial Service Commission, to ensure that they are complying with the Financial Service Ordinances. A company also must file a set of audited accounts with the commission.