Category 2 Status for High Net Worth Individuals

28/07/2021 Emma Lejeune, Adrian Pilcher, Sarah Bray, Stuart Dalmedo

Gibraltar’s geographical position at the southern tip of the Iberian Peninsula, coupled with its favourable tax regime, makes this jurisdiction an attractive choice for High Net Worth Individuals looking to establish residency here.

Gibraltar offers the opportunity for High Net Worth Individuals to obtain a special tax status known as Category 2 (Cat 2), which places a cap on the tax liability of that individual. Tax is applied to the first £105,000 of assessable income (including worldwide income), meaning that a Cat 2 individual will pay a maximum of £37,310 tax per annum, subject to a minimum tax payable of £32,000 (current rates), irrespective of income levels.

For more information on the updated requirements and restrictions following the Gibraltar Budget Address 2021, please click here to view our full PDF document.

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