z ENTERPRISE finance
back to CONTENTS For decades now, Gibraltar has been chief in consideration for entrepreneurial ex-pats looking to freshen up their surroundings and protect their future interests. Numerous international businesses and most UK gaming companies have their registered offices on the Rock, and several High Net Worth individuals from across the globe have obtained residency in Gibraltar with more joining the club every year. But why does this lean territory continue to attract flourishing businesses and wealthy investors?
RESIDENCY ON THE
ROCK OF GIBRALTAR WORDS JONATHAN TIRADO, DIRECTOR & SEAN GASKIN, TRAINEE SOLICITOR, VERRALLS BARRISTERS AND SOLICITORS
WHY CHOOSE GIBRALTAR? South of Spain, on the tip of the Iberian peninsula, sits the Rock of Gibraltar, a British Overseas Territory, home to a diverse array of cultures and backgrounds. Self-financed, self-sufficient, English speaking, and with southern Mediterranean weather, what’s not to love? With the Gibraltar and Great British pound being used as the official currency of the territory, and the Bank of
164 / MARCH 2022 ESSENTIAL MAGAZINE
England rates being tracked and followed, entrepreneurs, High Net Worth Individuals and Higher Executives alike who move to Gibraltar are sure to feel comfortable trading with an established and reliable currency. Additionally, ex-pats will have a sense of familiarity with Gibraltar law. The legal system is based on the English system, including the uses of both Common and Statute Law. However, Gibraltar
benefits from having its own Parliament allowing for its own independent laws. This is particularly useful for a variety of reasons, not least its resulting tax efficient system. Gibraltar has no Capital Gains tax, no Inheritance tax, no bank interest tax, and no wealth nor any gift tax. Dropping most of the extensive tax schemes found in the rest of the World, Gibraltar has created a lucrative investment opportunity for those who
