As a centre for financial services business and a gateway to Europe, Gibraltar has emerged in the last 20 years onto the European, and increasingly global, financial services industry as a fast, dynamic and efficient jurisdiction from which do funds business.
Gibraltar is in the EU – fact. It is for this reason principally that Gibraltar is able to offer many advantages that other small jurisdictions are unable to.
The process of setting up a fund in Gibraltar likely mimics the process for setting up a fund in any number of established, prestigious finance centres around the world. The private fund option is one that represents an unregulated alternative to the Experienced Investor Fund which, itself, is already a product that can quickly be brought to market.
The process for establishing an Experienced Investor Fund in Gibraltar is one of notification after the event. The local regime avails itself of pre-approved directors, auditors and administrators as well as sign off from a local law firm, thereby making the process of establishing an EIF a comparatively straightforward one.
ISOLAS advises and assists clients either directly or through introductions to local partners and providers for a complete suite of fund relates services that include:
• Fund establishment, set up and structuring
• Advising on registration, licensing and reporting
• Fund administration services from local providers
• Compliance and risk management
• Tax, audit and legal
• Depositary and custodian/trustee services
• Platform solutions, and service providers
• Corporate governance support and advisory services
• Corporate secretarial services
• Independent Gibraltar resident, qualified and licensed directors
• Technology services and business solutions; and
• Brokerage services and service providers
ISOLAS will act as your local contact point in relation to the introduction and engagement of all necessary counterparties, and in advising you of the best solution for the specific needs of your business model.
Other points to consider as advantages of doing in Gibraltar are:
– There are full passporting rights for financial services businesses registered in Gibraltar, who may then conduct business in any other EU member state without requirement for further licensing.
– A manager based in Gibraltar would be subject to the flat 10% rate of corporate tax applied across all Gibraltar companies on an accrued in, or derived from basis. This is one of the lowest corporate tax rates in Europe.
– Higher Executives Possessing specialist skills (HEPSS) within these companies may apply for this tax status, and have only the first £120,000 of income assessable to tax. This would cap income tax to under £30,000 per annum.
– There is no VAT in Gibraltar, which is highly relevant for international service providers offering services from Gibraltar, no Capital gains tax, wealth tax (for any fund or its investors) no inheritance tax and no withholding tax on dividends paid out of Gibraltar. There is no annual subscription tax, and the Gibraltar fund products offer the best possible outcome for the fund and its investors
Details of our funds team can be found by clicking on our Gibraltar Funds practice area homepage