Telephone: (+350) 200 42686
Innovative and impartial international tax planning, company, trust and pensions services in Gibraltar for private clients, their businesses and their families.
The Attraction of Gibraltar
An unbeatable jurisdiction for insurance, Gibraltar currently boasts 54 licensed insurance companies.
The majority of these companies set up in Gibraltar for the following reasons:
- Shorter licensing periods: it is probably faster to establish an insurer in Gibraltar than any other domicile within the European Union. In our experience, clients normally take three to six months to be granted a licence by the Financial Services Commission (FSC) , as opposed to a year or two in larger jurisdictions. So you can take maximum advantage of the cyclical nature of the insurance market – starting to write business when rates are increasing.
- Lower capital requirements: the relatively small size of the insurance market, when compared to larger jurisdictions, means the FSC can take a much more ‘hands-on’ oversight role. Licencees meet with FSC staff on a regular basis and the closer relationship means you can operate with a lower level of capital than in larger Member States, where regulators usually require a large ‘buffer’ to be held. Lower capital requirements mean a higher return on capital for shareholders and investors.
- Lighter and more responsive regulation: we have a long, trusted relationship with the FSC, so things can be done quickly and issues resolved efficiently. Your business can evolve quickly to take advantage of the changing market environment.
- Lower taxation: Gibraltar has the lowest rates of corporate tax in the EU. Although tax exempt status for companies has recently been abolished, tax on profits in future will be set at a very competitive rate. Additionally, personal tax breaks are available to wealthy individuals and key professionals who bring specialist skills to the territory.
- No Value Added Tax: although in the EU, Gibraltar is outside of the Customs Union. This could mean further savings for your company on supplies made to it by third parties.
To discuss how we can help you, please email us or telephone us on Gibraltar (+350) 200 42686 and ask for Frank Willis.
