Saying that Gibraltar offers the perfect business climate is a bold claim, but this tiny rock on the southern tip of Spain more than lives up to it.
With registered unemployed at less than 1%, average earnings of almost £29,000 and with one of the highest GDP per capita rates in the world, Gibraltar is a thriving hub of activity.
Gibraltar Corporate tax benefits
First and foremost of course is the fiscal environment. Gibraltar’s favourable tax regime recognises many types of business entities and the system is forward thinking.
- Just 10% Corporate tax applied only on revenue arising from Gibraltar or received there.
- No wealth tax and no capital gains tax
- No inheritance tax or estate duty
- No gift tax
- No sales tax: Gibraltar is the only VAT exempt financial centre in Europe
As well as all of the corporate tax benefits, there are numerous advantages from personal tax in Gibraltar.
Gibraltar is a recognised and reputable home for business, and Gibraltar’s businesses do not face the same problems and costs of company banking as many other offshore destinations.
Quality of life in Gibraltar
Probably the most enticing attribute that Gibraltar has to offer is its weather. The Mediterranean climate offers an outdoor lifestyle yet the “Rock” is one of the safest places in the world to live and a daily commute from the surrounding areas in Spain is another popular option.
For businesses that may need to attract talent to join them in relocation, this is a key point. Gibraltar and the Spanish Costa are not hard places to sell from a lifestyle perspective!
Living on either side of Gibraltar’s border is relatively cheap compared to the same commute time in most financial centres. Apartments for rent in Gibraltar are available at good prices, and the surrounding areas in Spain offer a wide choice of homes.
Gibraltar’s business friendly environment
Gibraltar offers thoroughly modern communications and infrastructure which is one of the reasons why it has proved attractive to so many online gaming and crypto currency companies.
English is the main language spoken which helps business, and Spanish is spoken as a second language. In business the legal structures and laws will be easy and familiar to English speakers.
Gibraltar and the surrounding areas also meet the human resources requirement of new companies moving to the area. As a commercial hub, Gibraltar attracts and relies on both local resources that have been well trained by the free educational system, but also specific industry talent that has relocated to the area.
Through its membership of the EU, it is able to offer passporting rights and access to the single European market at least until the market is broken up by Brexit.
Commercial real estate in Gibraltar
Despite its small size, Gibraltar offers a wide range of commercial real estate from industrial storage space to retail units in the most lucrative shopping areas and up to office space fit for the most advanced companies.