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LATEST NEWS
03-03-2010
Issue 34 of The Sovereign Report goes to press 03-03-2010
Flying by the seat of your pants? 03-03-2010
Antigua appoints new chief financial regulator
Government DepartmentsIssue 34 of The Sovereign Report goes to press 03-03-2010
Flying by the seat of your pants? 03-03-2010
Antigua appoints new chief financial regulator
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Gibraltar
Physical Facts |
|
| Population: | 30,000 (approximately) |
| Location: | 3606.7N 0520.6W |
| Area: | 3.5 sq. miles |
| Climate: | Mediterranean |
| Transport | Roads; Airport; ports |
| International Direct Dialling prefix: | 00 350 |
| Time difference on GMT: | + 1 hour |
Administrative Facts: |
|
| Status: | UK overseas territory; EU member as dependent territory |
| Government: | Self-governing parliamentary democracy, except for defence, internal security and foreign affairs. |
| Legal System: | Gibraltar law based on English legal system. Appeals from Gibraltar Supreme Court to the UK Privy Council. |
| Language: | English (official); Spanish; Llanito (local dialect spoken) |
| Education system: |
UK public examinations; professional examinations based on UK university degrees and institutions. |
| Residency/Working Requirements: | Gibraltarians and British citizens are allowed to reside without a permit. Nationals from other EU states are provided with a permit after proving they will not become a burden on the state. Non EU citizens must provide a work contract which can only be issued if the employer can prove that no Gibraltarian or EU citizen is able or willing to do the job. High Net Worth Individuals to provide proof of investment funds and two references, one from a bank. |
Fiscal Facts |
|
| Legal tender & currency: | Gibraltar Pound Sterling = British Pound Sterling |
| VAT: | None |
| Banking: | International and private banking Total assets (2007) £8,361.7 million |
| Annual Government Revenue (2007/8): | £280.7 million |
| Annual Government Expenditure (2007/8): | £265.2 million |
| GDP: | (2007) = £740 million |
| Minimum wage: | £6 per hour |
| Financial Services Regulation: | Insurance, banking and investment services may be conducted in other EU & EEA states. Service providers must be licensed by the Financial Services Commission, Suite 943, Europort Tel: 00 350 20040283/4; Fax 00 350 20040282 |
Tax Facts |
|
| General: | No double taxation treaties; No capital gains tax; No estate duties Trusts – life in being & 101 years non-residents not taxable. |
| Corporate Tax: | 10% on companies since July 2007 (subject to additional conditions). |
| Individual - resident: | £0 - £4,000 = 17% £4,001 - £16,000 = 30% £16,001 & over = 40% For list of exemptions for residents & non-residents contact e-mail: incometax@gibraltar.gov.gi |
| Individual – non-resident: | (as above) |
Focus on The Gibraltar Financial Services Handbook
With over 200 pages of information and dedicated to serving the needs of practicioners and users both within and external to Gibraltar, the handbook remains the number one source of information for those wishing to make use of the numerous benefits of Gibraltar´s Financial Sector.
