Gibraltar is a leading insurance domicile because it is the ONLY location that offers ALL of the following:
GATEWAY TO EUROPE
Gibraltar licensed insurers are able to insure risks directly or set up a branch in EEA states
UK STANDARDS OF REGULATION
Gibraltar has implemented all the EEA Directives relating to insurance business. Its regulations and levels of supervision match UK standards, making Gibraltar probably the best regulated offshore centre for insurance business.
NIL/FLEXIBLE TAX REGIME
Gibraltar insurance companies may choose between "exempt company" status (fixed annual tax of œ225) and "qualifying company" status (0% to 35%).
There are also tax advantages for certain expatriate specialists working in the insurance sector in Gibraltar.
NO VALUE ADDED TAX
Gibraltar is exempt from the EEA requirement to levy VAT, enabling a service operation, whose charges would normally be chargeable to VAT in another territory, to gain a competitive advantage in price.
INFRASTRUCTURE - HIGH QUALITY, LOW COST AND FLEXIBLE
- UK educated and qualified workforce
- salary and rental costs lower than any other European offshore centre
- no job quotas or work permit restrictions.
Anthony Fisher Finance Centre Development Director Department of Trade & Industry Government of Gibraltar Suite 771, Europort Gibraltar Tel No: + 350 50011 Fax No: + 350 47677 E-mail: Click Contact Link Website: Click Contact Link
You may also wish to read through related material on business and finance in Gibraltar provided by the Gibraltar Finance Centre.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.