Register a company in Gibraltar and open an account with a British payment service provider – from 5,699 EUR

While tax evasion is illegal, of course, tax burden optimization is in keeping with the law. There are jurisdictions in this world that impose only moderate taxes on their citizens and legal residents. Gibraltar at the southern end of Europe is one such jurisdiction. Establishing an offshore European company is certainly an option to consider. Non-resident companies are tax exempt in Gibraltar. We invite you to consider a combined service that we offer: A company in Gibraltar and an account with a British payment service provider (PSP). The price of the combined service starts at 5,699 EUR.

Gibraltar specifics

A small peninsular with a large rock at the end guards the entrance to the Mediterranean Sea. On a sunny day, the African shore is clearly visible from this location even though it is part of the European continent. The peninsular is strategically positioned and this makes Great Britain hold on firmly to this overseas territory even though the Spanish Government tries to contest its British possession. Thus, officially Gibraltar is part of the United Kingdom that nevertheless enjoys a high level of autonomy.

Below please find the main advantages of registering a non-resident business company in Gibraltar:

• The registration procedure is relatively fast and inexpensive;
• Neither profit tax, nor inheritance tax, not capital gains tax are levied in Gibraltar;
• A Gibraltarian company can open a corporate bank account anywhere in the world;
• Good infrastructure is in place as well as reliable communication channels;
• There are no limitations on trade outside the jurisdiction;
• The level of information confidentiality is very high.

Gibraltar also enjoys good reputation with, and respect of, the international community. The situation remains stable on the territory as far as both politics and economy are concerned. These are strong reasons indeed to consider establishing presence in this country. Besides, a non-resident company in Gibraltar is not going to be subjected to endless inspections on the part of the state fiscal authorities. Nominee services are also available in the country.

In accordance with the law “On Companies” from 1984, companies registered in Gibraltar are entitled to conduct business activities in any jurisdiction in the world. The NRC (non-resident company) office shall be located in Gibraltar, and a secretary shall be on the company staff. The official name of the NRC shall contain the word ‘Limited’.

Additional aspects of opening a business company in Gibraltar

• At least one director and at least one shareholder is required to establish a company in this jurisdiction (these can be private individuals or legal entities);
• The information about the company shareholders and other beneficiaries is not in free public access: it is kept confidential;
• The General Meeting does not have to be help in Gibraltar: it can be any other place in the world;
• Keeping accounts is not required;
• Issuing shares is allowed: these can be bearer shares or shares without par value;
• The corporate documents do not have to be kept in the Gibraltar company office: they can be kept anywhere the company owners wish.

A Gibraltarian NRC does not have the right to provide services or do any other kind of business with the citizens of Gibraltar.

Why open an account with the British PSP?

It would be wrong to think that only banks can open accounts that you can use for various financial purposes. A payment system will make a wonderful alternative to the slow, highly bureaucratized, and toughly regulated banks of the modern world. Below please find the main advantages of setting up an account with the British PSP we are promoting here:   

• The account can be opened within a few days without too much red tape and without the need to visit the company office in order to sign the agreement;
• A payment system is not a depository institution and thus it does not have to comply with the CRS (Common Reporting Standards) rules, which allows obtaining total confidentiality of your financial information that will be guarded against the tax authorities;
• You can manage your account and make transactions with the help of your smartphone;
• The PSP offers a wide range of services: transactions and payments in more than thirty world currencies; credit and trade financing; invoicing; escrow accounts; marketing and IT developments; cryptocurrencies operations, and so on.

The payment system that we are offering for your consideration is a reliable agent to keep money with. It does not use its clients’ capital to give out loans but keeps the money on correspondence accounts in major European banks. The access to the account is given via a three-domain authentication system including voice recognition. You can make payments in multiple currencies including GBP, USD, and EUR and convert them automatically.  

Terms and conditions of opening an account with the British PSP

In order to open an account with this PSP you will have to fill out the application form in a proper way, sign it, and scan it. You have to bear in mind that all the document scans that you supply to the PSP have to be done in color and be of good quality. The scans shall not contain any images that are not contained in the original documents. Otherwise, your application may be declined. All application documents shall be in the English language.  

What documents are required for opening an account with the British payment system? Company directors, shareholders, and other beneficiaries shall submit scans of the following papers:

• Notarized passport copies;
• A brief personal CV;
• Notarized copies or originals of the documents that prove your residence address. These can be utility bills, real estate purchase or rent agreements, etc.

A package of the following corporate documents also needs to be submitted:

• Company registration certificate;
• Company Charter/ Bylaws/ Memorandum and Articles of Association;
• Documents that prove that the company has certain business activities. These can be tax declarations, financial reports, bank statements, and so on.

You will also have to provide a short description of the company business sphere(s), the intended payment methods, amounts, and frequencies, as well as a list of counteragents. The PSP legal department reserves the right to request additional documents in some cases. The account opening fee is 750 EUR with this PSP. The minimum balance to be kept in the account is 1,000 EUR.

Please consider applying for our combined service “A company in Gibraltar plus an account with a British PSP”. The price starts at 5,699 EUR and it will ultimately depend on several factors, mainly the complexity of your company structure. If you have any questions, you are welcome to contact us by e-mail [email protected]. We will answer all queries ASAP.