About GIBRALTAR
Gibraltar offshore banks
Gibraltar offshore service providers



Gibraltar is in Southwestern Europe, bordering the Strait of Gibraltar, which links the Mediterranean Sea and the North Atlantic Ocean, on the southern coast of Spain.
The sovereignty of Gibraltar was transferred to the Kingdom of Great Britain by the Treaty of Utrecht in 1713 after the War of the Spanish Succession.

Economy
Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center.

A number of British and international banks have operations based in Gibraltar. Recently, many bookmakers and online gaming operators have relocated to Gibraltar to benefit from operating in a regulated jurisdiction with a favourable corporate tax regime.
However, this corporate tax regime for non-resident controlled companies is due to be phased out by 2010.

Technology sector is also predicted to become a mainstay of Gibraltar’s economy, with betting and gaming companies generating significant amount of revenues for the government.

Tourism, banking and finance, ship-building and repairing; support to large UK naval and air bases; tobacco, mineral water, beer and canned fish are some of the industries in Gibraltar.

GDP: purchasing power parity - $1.066 billion (2005 est.)
GDP - per capita: $38,200 (2005 est.)

Currency:
Gibraltar pounds (GIP) per US dollar - 0.4993 (2007), 0.5434 (2006), 0.5504 (2005), 0.5462 (2004), 0.6125 (2003)
note: the Gibraltar pound is at par with the British pound

Gibraltar does not have capital gains tax, sales tax or VAT, inheritance tax or wealth tax. Income tax, corporation tax and withholding tax are applied, however, opportunities exist for non-resident non-Gibraltarian individuals and entities to either be fully exempt from or substantially reduce their exposure to these taxes.

Some incorporation benefits:
• non-resident companies are tax exempt; except for the part of profits transferred over to Gibraltar.
• directors can be individuals as well as business entities.
• only one shareholder and a director are sufficient for registration.
• director can be of any nationality.
• no exchange controls.
• can be incorporated within two to three days. However, upon payment of an additional fee, same day incorporation can be effected.