Low tax residency for High Net Worth Individuals

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Gibraltar
About
Requirements
Cost of Living
Expats

About

Gibraltar has a low tax regime for ordinarily resident individuals but High Net Worth Individuals (HNWIs) can also establish tax residency in Gibraltar under an alternative tax regime that allows that individual’s tax liability in Gibraltar. High net worth individual or Category 2 individual can only be taxed under the allowances-based system. At present their gross assessable income is capped at £80,000 per annum.

Income tax is only payable on earned or remitted income such as employment income (including benefits in kind), trading income (rental income, consultancy) and dividends from private companies.

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DURATION

84 months

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CITIZENSHIP

84 Month(s)

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FEES

1,265

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P. RESIDENCY

Not requires Month(s)

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COMPLEXITY

Very Low

Eligibility Requirements for Low tax residency for High Net Worth Individuals

5 Eligibility Requirements

  • The applicant must have sufficient means to maintain himself and his family, including a minimum net worth in excess of £2 million (documented by a banker).
  • Applicant must purchase an approved residential property in Gibraltar large enough for family and for exclusive use (rentals are permitted, but could lead to challenges from the country of origin).
  • Applicant must not have been resident in Gibraltar during the previous 5 years.
  • If the applicant intends to be engaged in business or trade in Gibraltar special permissions may be needed and additional local tax may be levied.
  • Applicant must have private medical insurance.

Document Requirements for Low tax residency for High Net Worth Individuals

6 Document Required

  • Completed and signed application form.
  • Proof of sufficient funds i.e Bank statement, etc.
  • Proof of purchase of property or rent i.e Lease documents or contracts of purchase.
  • Permission letter in case if applicant wants to engage in business activity.
  • Proof of clean criminal record from country of origin or place of residence.
  • Proof of private medical insurance.

Cost of living

Avarage cost of living in

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