Background: Strategically important Gibraltar was ceded to Great Britain by Spain in 1713. In a 1967 referendum, Gibraltarians ignored Spanish pressure and voted overwhelmingly to remain a British dependency.
Location: Southwestern Europe, bordering the Strait of Gibraltar, which links the Mediterranean Sea and the North Atlantic Ocean, on the southern coast of Spain.
Economy – overview: Gibraltar benefits from a diverse and extensive economic base. Important sectors that generate revenue include international financial services, tourism, insurance, funds, shipping (including bunkering), and gaming. The British military presence has been much reduced in recent years. Gibraltar is a well regulated jurisdiction and joined the European Union alongside the UK in 1973. With a population of some 30,000 Gibraltar has seen major structural change in recent years and its infrastructure continues to develop year on year.
- Established in 1987
- Licensed as a professional trustee
Gibraltar is conveniently located within the Central European Time Zone (CET) which is one hour ahead of UK time. Daylight saving is observed during the summer months.
We provide ready made or customised incorporation of all types of Gibraltar companies and all related services, including the provision of company secretarial, registered office and nominee shareholder services or full management services from our own licensed directors.
Gibraltar has a legal requirement that professional trustees be licensed and Sovereign Trust International Limited was one of the first companies in Gibraltar to be granted a licence to act as a professional trustee. This is your assurance that we are fit and proper and have the necessary expertise and resources to establish and administer trusts in a wholly professional manner. Trusts have many applications and advantages, including the protection and preserving of assets, tax planning or just avoiding the expense and delays of obtaining probate. They also provide a high degree of confidentiality.
Residency for High Net Worth Individuals
In 1992, in an effort to attract wealthy residents to Gibraltar, the Government introduced the Qualifying (High Net Worth) Individuals Rules 1992 as an amendment to the Income Tax Ordinance. These rules provided for reduced rates of tax to be paid by wealthy individuals who became residents of Gibraltar. The rules have since been changed to provide even greater flexibility.
Known as “Category 2” individuals, successful applicants are required to pay Gibraltar tax of not less than £22,000 in any year but the maximum tax payable is £29,880 per annum.
Ship & Yacht Registration
Merchant ships registered at Gibraltar are registered as British ships under Part 1 of the United Kingdom Merchant Shipping Act 1894 and once registered are entitled to fly the British flag with all of its attendant advantages. Gibraltar is one of five Category 1 Red Ensign Group Registers with full, bareboat charter, provisional and ships under construction registrations. Similarly, yachts registered at the Ship Registry of Gibraltar are also entitled to fly the British flag. Although the Gibraltar Registrar of Ships will only register ships and yachts that are owned by UK nationals or nationals of UK dependent territories, foreign nationals may obtain the advantages of Gibraltar registration by having their vessels owned by a Gibraltar Company. We are able to assist with transfer of ownership to Gibraltar companies and all registration formalities. We are also recognised by the Government of Gibraltar as a local Authorised Officer and Accounting Authority if required.
Sovereign Trust International Limited – Licensed by the Financial Services Commission as a Professional Trustee under Licence number FSC 00215B.02/99.
Sovereign Trust (Gibraltar) Limited – Licensed by the Financial Services Commission as a Company Manager under Licence number FSC 00143B.02/99.