Gibraltar - territory of Spain at the South of Pyrenees Peninsula on the Gibraltar Gulf. Territory - 6,5 square km; population-approximately 30 000, official language - English. Political system: a colony of the Great Britain, with autonomous local government.

Gibraltar

Advantages Not expensive European jurisdiction with the status of tax-exempted company Membership of the EC Corporative legislation Decree of Companies 1984, amended on 1992, 1996 Form of tax-exempted company Non-resident companies (hereinafter - company) Authorized business activities All and any activities not prohibited by the law Providing of banking, insurance, and re-insurance, trust services is subject to special license Prohibited activities Transactions with the residents of Gibraltar, ownership of real estate on the territory of Gibraltar Taxation Company is exempted from all and any taxes and duties Name of the company The name has to end in the word Limited The words Association, Bank, Chamber, Charter, International, Group, Municipal, Royal, Fund and a number of other words are subject to approval by the Companies Register Who executes the foundation documents? Signatories who nominate the first director Equity capital of the company Equity capital of the company is established by declaration Recommended statute capital 2000 GBP, divided into 2000 shares with par value 1 GBP Shares Emission limited to registered shares with par value Shareholders - Minimum number - Nominal shareholders - Holders of trust equities One natural or legal entity Permitted Permitted Does the law provide for non-disclosure of the information? - About actual owner of the company - About bank operations The actual owner of the Company can not be determined, if shares are hold by nominal shareholder Yes Directors - minimum number - nationality and citizenship - status One natural or legal entity No requirements All the rights apart from those falling into the exclusive competence of shareholders (determined by articles of association) On the territory of Gibraltar there has to be: - registered office - registered agent - local secretary Required Required Required (has to be a resident of Gibraltar) Holding of the meeting of -shareholders -directors Meetings may be hold in any part of the world Minutes may be kept at any place No requirements Mandatory - keeping of accounting records - annual account - presentation of auditor's conclusion No Yes No Information at disposal to the third party Names and addresses of directors and shareholders, registered office, memorandum and articles of association Documents kept at the registered office Register of shareholders and directors Agreements on exemption from double taxation No Currency control No Term of incorporation 3 weeks Costs of registration of company Look for: Costs of registration and service Financial year ending on Look for: Annual support of companies Possibility to purchase a ready-made company Yes, look for: Ready made companies