| Tax Exempt LLC | LLC | PLC | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | Offshore Company | Limited Liability Company | Public Limited Company | Branch | Representative Office |
| Company Setup Time | 10 days | 5 days | 10 days | 10 days | 10 days |
| Bank Account Opening | 5 days | 5 days | 5 days | 5 days | 5 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
The Gibraltar non-resident company (offshore company)
- As per Gibraltar company law, the non-resident company is a limited liability company. With a minimum capital of 1 Pound, it needs to have one director and a shareholder.
- Although incorporated with Companies House Gibraltar, the business is managed and owned by the non-resident of the country. Even the meeting of the company uses to be held outside of Gibraltar territory.
- Under Gibraltar company law, this business entity enjoys tax status and are not recognised as tax-payer. So if clients are looking forward to starting a company in Europe, this is an inexpensive and simple establishment.
- Whereas the off-shore company must not trade within the country, as to retain the non-resident with the purpose of tax payment.
The Gibraltar limited liability company (LLC)
- To be a Gibraltar LLC, the client only needs to have a director and shareholder. Also, the capital that needs to be paid up for this company should be 100 pounds.
- Also, it’s mandatory for the business to have an auditor, who is registered with the Financial Services Commission if the company is making sales more than 500,000 pounds every year. Even the company has to submit an audited financial statement every year.
The Gibraltar public limited company (PLC)
- Even the clients can register for PLC to set up a company in Gibraltar. For this, one needs to appoint 2 directors, 7 shareholders and a company secretary. Whereas the capital required is 20,500 pounds.
- Also for the Gibraltar PLC, the appointed director must be a resident of the same country. Even the client has to appoint statuary auditor, so to fill annual audit reports.
The Gibraltar branch of a foreign company (International business branch)
- Even Foreign companies can have their branch office. All they need to appoint a resident corporate agent.
- As the branch is a separate legal entity, it has been exempted from branch remittance tax but has to pay 10% of income sourced within the country as standard corporate tax.