Gibraltar Residency
Compelling Advantages
from a Tax Perspective
By Andrew Hosking, Fiduciary Wealth
C
lients looking for a new
address from a tax perspective would do well to consider
Gibraltar. Less flamboyant than
Monaco, less exotic than the
Caribbean, Panama or Malaysia;
Gibraltar provides a unique
opportunity for expatriates
to retain a British way of life
in terms of language, law and
culture, without the weather,
yet still live within the EU and
be less than two and half hours
flying time from London.
Whilst the tax benefits of
moving residency depend
under what scheme an
individual is entering, the fact
that there is no inheritance
tax, no CGT, no wealth tax, no
VAT, no tax on savings interest,
no tax on dividends arising
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from companies quoted on a
recognised Stock Exchange,
and pension income in
drawdown can be limited to
a flat rate of 2.5% within a
Gibraltar QROPS or QNUPS
the advantages of obtaining
Gibraltar residency can be
clearly significant.
There are two distinct routes for
obtaining individual residency.
Category 2
For entrepreneurs with net
wealth in excess of £2million
there is a special category
of residency called Category
2 where tax on worldwide
income is capped at an £80,000
threshold with a minimum of
£22,000 and maximum £28,360
tax to pay.
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