Offshore Companies and Banking

Incorporation (Setup) Costs - US$1,600 (+ US$700 nominee director if required)
The fee is all inclusive, no hidden costs.

Annual Maintenance Costs - US$600 (+ US$700 nominee director if required)
The fee is payable after the first year and covers annual taxes, registered agent (and nominees). No hidden costs.

Our company kits are always delivered with the same documents and may vary slightly from jurisdiction to jurisdiction. All our companies come in a deluxe corporate "attache kit", which is all inclusive and ready for use document kit.

Our corporate kits are delivered with the following documents:-
- Articles of Incorporation in English (Notarized and legalized by Apostille)
- Appointment of First Directors / Nominee Directors (if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (in English and Spanish Notarized and legalized by Apostille)
- Certificate of Incorporation
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested

Type of Company for International Trade and Investment
Non-resident Company.

Procedure to Incorporate
Filing of Memorandum and Articles of Association, Statement of the Situation of Registered Office, a statement declaring the Authorised Share Capital and a Declaration of Compliance.

Restrictions on Trading
Cannot trade within Gibraltar or undertake the business of banking, deposit taking, insurance, assurance, reinsurance, fund management, asset management or any other activity associated with the finance industry.

Powers of Company
A company incorporated in Gibraltar has the same powers as a natural person.

Time Scale to Incorporate
Subject to name approval, a company can be incorporated within seven working days.

Name Restrictions
Any name that is identical or similar to an existing company. Any name which, in the opinion of the Registrar, is undesirable or offensive. Any name that suggests royal or government patronage. Any English name, or their foreign language equivalent, which may imply a field of activity associated with the banking or finance industry.

Language of Name
The name can be in any language that uses the Latin alphabet, but must be accompanied by a translation to ensure that the name is not prohibited or licensable.

Names Requiring Consent or a Licence
The following names or their derivatives: bank, building society, insurance, assurance, reinsurance, fund management, asset management, investment fund, trust, trustees, municipal, Chamber of Commerce, co-operative or their foreign language equivalents. 'International' and 'Gibraltar' cannot be used without consent unless they are bracketed.

Authorised and Issued Share Capital
Normally L2,000 divided in to 2,000 shares of L1 each. This being the maximum authorised share capital for the minimum capital duty payable upon incorporation. The authorised share capital may be expressed in any currency. The minimum issued capital is L2.

Classes of Shares Permitted
Registered shares, bearer shares (impractical - must be deposited in Gibraltar), preference shares and redeemable shares or shares with or without voting rights.

Double Taxation Agreements
Gibraltar is not a party to any double tax treaties

Licence Fees
Nil, the company only pays a GBP 30 annual filing fee to the Registrar of Companies, payable at the time of filing of the Annual Return.

Financial Statement Requirements
There is no requirement to file financial statements, but a company must keep records to reflect its financial affairs.

Directors
The minimum number of directors is one, who may be a natural persons or a body corporate. They may be of any nationality, and must not be resident of Gibraltar.

Company Secretary
All Gibraltar companies must appoint a resident company secretary, who may be a natural person or body corporate.

Gibraltar is a peninsula at the southern tip of Spain with an area of approximately 7 sq km. It is adjacent to Africa yet within Europe, and has an historically strategic position at the junction of the Atlantic and the Mediterranean.

Population
The population of Gibraltar is approximately 30,000 although a substantial number of the working population commutes daily from homes nearby in Spain. A number of Moroccan, British and Indian expatriates live in Gibraltar.

Political Structure
Gibraltar is a British Dependent Territory and is a Crown Colony with internal self-government. It has its own elected House of Assembly, which legislates on domestic matters. The United Kingdom is responsible for defence, foreign affairs, financial stability and internal security. Gibraltar is a member of the European Union by virtue of Article 227 paragraph 4 of the Treaty of Rome in its capacity as a territory for whose external relations a Member State (the United Kingdom) is responsible. Gibraltar enjoys special status within the Community and is exempted from the Common Customs Tariff, the Common Agricultural Policy and Value Added Taxation. Gibraltar is politically stable and the current Government actively promotes Gibraltar as a first-class international financial centre.

Infrastructure and Economy
Since the opening of the border with Spain in 1985, the level of tourism and investment has increased dramatically. Several international banks and insurance companies have offices in Gibraltar. Gibraltar has excellent modern postal and telecommunications systems. Thanks to a joint venture between the Gibraltar Government and the Nynex Corporation of the USA, Gibraltar enjoys the latest in digital and fibre-optic telecommunications. There are daily flights between Gibraltar and London and frequent scheduled air services to Manchester, Luton and Tangier. Although it is not at present possible to fly direct from Gibraltar to Spain and other destinations the airports at Seville, Jerez and Malaga can easily be reached by road and provide direct services to many international destinations. The Port of Gibraltar enjoys free port status and hosts frequent calls from many of the world's shipping lines, both passenger and freight.

Language
The official and spoken language is English although because of Gibraltar's close proximity to Spain, Spanish is spoken widely.

Currency
UK Pound. Local notes and coins are produced but UK Currency is accepted, as is the Spanish Peseta, with most shops displaying dual currency price tags.

Exchange Control
None.

Type of Law
Common Law based on English Common Law.

Principal Corporate Legislation
Based on the United Kingdom 1929 Companies Act (as amended) and the Companies Ordinance 1984 (as amended).

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