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If you are one of the many thousands of Britons, EU or foreign nationals considering moving to a more favourable tax regime to escape the increasingly higher burden of taxes falling on employees, business owners and those able to live off their invested wealth then you might well want to take a look at the benefits of moving to Gibraltar.
Gibraltar provides a unique offering for high net worth individuals seeking to establish residency. Enjoying a Mediterranean climate and situated at the most southerly point of the Iberian Peninsula this self governing British overseas territory has a robust and diversified economy and has emerged as a leading international financial centre within the European Union, complying with all EU Directives and Regulations.

Who should consider applying for “Cat.2” Gibraltar residency?
Individuals looking to protect trading or earned income from higher rates of taxation in the country of residence or where they declare their income.

The key conditions which must be fulfilled to obtain Category 2 Gibraltar residency status are as follows:

  • Individual must be of substantial and sound financial standing and have a minimum net worth of £2 million.
  • Individual must preferably own or rent approved residential accommodation in Gibraltar. The property must be approved by the Gibraltar Finance Centre and be used exclusively by the Category 2 individual and large enough to house direct family.
  • Individual cannot have been resident in Gibraltar during the five years immediately proceeding the year of assessment.
  • Individual is not allowed to engage in a trade, business or employment in Gibraltar unless it is in a sector or activity which is not in direct competition with a local business.
  • The status is granted on an indefinite basis, but the Category 2 residency certificates need to be sent to the Gibraltar Finance Centre for renewal every three years.
  • Individual must have private medical insurance to cover them and their family in the event of illness in Gibraltar.
  • There is no minimum physical residence requirement in Gibraltar for a Category 2 resident.

How much tax will be paid?
Tax liability capped at £80,000 income with a minimum tax of £22,000 and a maximum of £29,880.
What are the benefits?

  • No Inheritance Tax
  • No Wealth Tax
  • No Capital Gains Tax
  • No Gift Tax
  • No taxation on interest savings
No taxation on dividend income arising from companies quoted on a recognised stock exchange.