OFFPLAN NEWS

(10.08.2007 )
Real estate in Gibraltar Gibraltar Real Estate Info

The Gibraltar exempt company is a suitable vehicle for holding Gibraltarian real estate and other countries interests in many other countries, including the UK and Portugal. If the exempt company's owners are non-resident, or have High Net-Worth Individual status, property income can be passed through the exempt company without taxation.

A substantial proportion of the 60,000 companies in Gibraltar were created to hold real estate during a boom in Spanish property in the 1980s and 1990s; but various adverse fiscal measures by the Spanish authorities, plus the generally difficult situation between Spain and Gibraltar, mean that new Spanish property investment via Gibraltar is no longer likely to be attractive.

In July 2002 Gibraltar's Chief Minister, Peter Caruana announced a new corporate taxation policy setting a zero rate of corporation tax for all companies but introducing new taxes on company personnel and property occupation which will be capped at 15% of profits. The existing corporate forms which allowed zero taxation, the Exempt and Qualifying companies, will be abolished, although there is no news yet about the possible grandfathering of existing companies. Local companies which currently pay 20% or 35% profits tax will be better off, while 'offshore' companies will be worse off only if they employ staff or occupy premises locally. Many companies, particularly those used to hold Spanish property interests, do neither.

The European Union has not yet (2005) accepted these changes, and they will have to be argued out at the European Court of Justice. The issue will take years to resolve, and meanwhile Brussels officials seem to have agreed that the existing situation (confusing as it is) may be allowed to continue, at least as regards Exempt companies.

Gibraltar dissolved its qualifying companies tax regime in January, 2005, as negotiations continued in Brussels. In a move that will cost the Gibraltar government an estimated £1.5 million in annual tax revenues, the remaining qualifying companies, of which there are about 80, will switch to the ‘exempt’ companies regime. “Each qualifying company has been dealt with on an individual basis and alternative arrangements made,” said the government.

News by Country

»(10.08.2007 ) Property in Gibraltar The Gibraltar Real Estate
The Gibraltar exempt company is a suitable vehicle for holding real estate interests in many other countries, including the UK and Portugal. ... » find out more

»(10.08.2007 ) Property in Gibraltar Conservative MEP Visits Gibraltar
Conservative MEP Giles Chichester, son of Sir Francis Chichester, comes to Gibraltar to give a talk tonight at the Royal Gibraltar Sea Property Yacht Club at 8.00pm on his father's boat the Gypsy Moth. ... » find out more

»(10.08.2007 ) Property Gibraltar General tips when looking for Gibraltar property
Having to depend on local transport can be avoided if you use one of the rent-a-car firms at the airport to get you to the chosen property in Gibraltar.... » find out more

»(10.08.2007 ) Gibraltar property Gibraltar agreement to boost tourism
An historic agreement between the UK, Spain and Gibraltar could mean that the Rock enjoys a major boost from low-cost airlines and is heartily welcome by those looking to buy property in Gibraltar. ... » find out more

»(10.08.2007 ) Gibraltarian properties Gibraltar Buys Capitol Hill Building for $2.7M
Gibraltar real estate LLC has purchased 1510 E. Olive Way in Capitol Hill, a 1924 building with commercial and residential space. ... » find out more

»(10.08.2007 ) Gibraltarian property Gibraltar LLC buys Third Ave. Building
Property Gibraltar LLC has entered the downtown Seattle market by acquiring the 8-story Century Tower at 1518 Third Ave. for $6 million. ... » find out more

»(10.08.2007 ) Gibraltarian real estate Gibraltar Apartment and Office Facilities Rent Out
Gibraltar holiday apartments and office space can usually be rented at between GBP8 - GBP15 per square foot per year.... » find out more

»(10.08.2007 ) Gibraltar real estate Gibraltar Puts $170M Multi-Family Portfolio on the Block
Gibraltarian Properties Inc. is putting its nine-property multifamily portfolio in Indiana and Nebraska up for sale at an asking price of about $170 million.... » find out more

»(10.08.2007 ) Real estate in Gibraltar Gibraltar Real Estate Info
The Gibraltar exempt company is a suitable vehicle for holding Gibraltarian real estate and other countries interests in many other countries, including the UK and Portugal.... » find out more

»(10.08.2007 ) Real estate Gibraltar Gibraltar Residence and Property
Nationals of EU member states have the right to enter, work and live in Gibraltar property for sale.... » find out more