+350 200 44537 [email protected]

Residency

For all residency requirements please see the website below:

https://www.gibraltar.gov.gi/new/sites/default/files/HMGoG_Documents/CIVILIAN%20REGISTRATION%20CARDS%20GUIDANCE%20NOTES%20%28NEW%20VERSION%29%20.pdf

Tax information

Tax information Introduction

Details of tax allowances and tax rates can be obtained from the Income Tax Office or through their website at  https://www.gibraltar.gov.gi/income-tax-office

Tax tables

Personal Income Tax

Individuals are taxed under one of two systems, whichever is most advantageous. No tax is payable where assessable income is £11,450 or less.

(i) Gross Income Based System (GIB)

Tax is calculated on gross assessable income*:

First £17,000*

18%

£17,001 to £25,000*

21%

£25,001 to £40,000

27%

£40,001 to £105,000

30%

£105,001+

27%

*Individuals with gross assessable income not exceeding £25,000 pay at 8% on the first £10,000, 22% on the next £7,000 and the balance at 30%. Deductions are available for medical insurance, pension contributions and home purchase etc.

(ii) Allowances Based System (ABS)

Tax is calculated on net taxable income (subject to some tapering relief for income below £19,500):

First £4,000

16%

Next £12,000

19%

Over £16,000

41%

Special Tax Status for Individuals

Available for applicants satisfying eligibility criteria. Includes rental or purchase of an approved residential property.

(i) High Net Worth Individuals (Category 2)

Persons with net wealth of £2M+ can apply to pay tax only on their first £118,000 of taxable income, equivalent to an annual liability of approximately £44,740, but subject to a minimum of £37,000. The full year liability must be paid annually on 30 November in the tax year to 30 June.

(ii) High Executive Possessing Specialist Skills status (“HEPSS”)

Relocating executives with relevant skills pay tax only on the first £160,000 of their earned income (maximum tax £43,140).

Non-Resident Landlords

Non-resident landlords who are individuals pay 19% tax on the first £16,000 of net rental income and 41% thereafter. Capital allowances are available.

Company Income Tax

Charged at 12.5% on income which is “accrued in or derived from” Gibraltar.

There are no withholding taxes on the payment of dividends. sInterest paid between connected companies is taxable where the recipient is a Gibraltar company and the amount is £100,000 or more per annum. Royalty income received by a Gibraltar company is also taxable.

Other Taxation

As well as a favourable income tax regime, Gibraltar has no taxes on:
Savings income (dividends and interest)
Royalties and capital gains.
Wealth, gifts, estates and inheritance
Sales (e.g. VAT)

QROPS (UK Pension Transfer)

A tax-free pension commencement lump sum of up to 30%. Income drawdowns taxed at 2.5%.

Compare listings

Compare