Gibraltar, Europe's leading e-commerce centre
Gibraltar has an 'onshore' tax structure quite similar to that of the UK so far as income and corporation tax is concerned, although there are no capital gains or inheritance taxes. However, as long as a company does not do business locally (i.e, have transactions with local residents) it can use the provisions in the non-resident company legislation to allow the company to be exempt from income and withholding taxes. Gibraltar, rightfully claims to be one of the leading e-commerce jurisdictions in Europe. As far back as in 2001, Gibraltar passed its first legislation specifically designed to attract e-commerce businesses.
Why Re- Locate your website to Gibraltar ?
If you are starting a new business or your business is international in nature, you can save on income taxes by re-locating your website to Gibraltar. Existing and new clients contacting you via your website will be making the point of sale in Gibraltar and these sales will not be subject to income tax in Gibraltar. If your website is owned by a 'carefully and properly structured' Gibraltar non-resident company, then the company will not be liable to pay any taxes in Gibraltar or in your home country.
Websites located in Gibraltar can carry out the same functions as previously carried out, when they were based in high-tax jurisdictions such as real estate, sales, marketing, gaming, membership and financial services. You can set-up an appropriate arrangement with the Gibraltar company to manage the website. If you choose to manage websites from your home country then income received will be taxable at rates applicable in your home country. Employees situated in Gibraltar are subject to income tax if they physically work in Gibraltar. Directors, Agents and Managers working outside of Gibraltar are not liable to pay any taxes in Gibraltar.
Establish your business in Gibraltar for the long-term
Gibraltar has attracted many well-known UK companies who have established themselves in Gibraltar for the long-term. They have chosen Gibraltar in preference to other offshore centres such as Jersey, Guernsey, Switzerland, and Luxembourg. This is because, Gibraltar has good communications, lower costs, and better e-commerce legislation than other jurisdictions. The Gibraltar Government has been very proactive in implementing new legislation.
Victor Chandler was the first of many UK gaming companies who re-located their international operations to Gibraltar. Victor Chandler moved to Gibraltar in 1999 and the Victor Chandler International office now has 350 employees, who provide 24 hour client services in a variety of languages including, Spanish, Chinese, and Greek.
Gibraltar has over 100,000 offshore companies, most of which are involved in international trading or hold assets, such as property, yachts, insurance bonds, stocks and shares. Many companies have international websites located in Gibraltar where they carry out e-services distributing products or services internationally and accumulating profits legally tax-free in Gibraltar. AMP & Partners has the ability to assist you set up a suitable corporate structure, arrange web-hosting and the transfer of your website to Gibraltar. We can also arrange to have a fully qualified IT expert assist you with technical issues.
Contact Us to find out how you can re-locate your Internet business to Gibraltar.