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Is Gibraltar a hidden champion?
- Thread starter frankx1
- Start date
I forgot to mention, UAE addresses in passport/id are written in p.o. box format so from any banks perspective is not even a valid residential address. So all they really care is what proof of residential address you give them (bank statement, utility bill...).
Gibraltar had its time like Seychelles, Belize and BVI had. It's nothing worth any longer for the average person. If purpose is tax reduction for millions of legal $$$ you can bring down taxes using vehicles setup these places.
Are they professional in tax matters or company setup only @koohl ?
Often, the problem isn't finding a company that can help you register a business, such as here in Gibraltar.
It's much harder to find a good firm with trained staff in tax matters who can assist you if issues arise with that part of the business operation. It's even better if they have expertise in international tax law, though that is more difficult and often very expensive.
Often, the problem isn't finding a company that can help you register a business, such as here in Gibraltar.
It's much harder to find a good firm with trained staff in tax matters who can assist you if issues arise with that part of the business operation. It's even better if they have expertise in international tax law, though that is more difficult and often very expensive.
Almost everything said in this thread is wrong. Gibraltar is the hidden gem. If you can qualify for category 2 residency (£40k or so minimum yearly tax, minimum £1.5-3k category 2 approved rent and £2M net worth) and have a EU passport you're effectively able to maintain legal tax residency in Gibraltar without any minimum stay requirements and travel to the EU without any restrictions for as long as you want providing you keep a low profile and are not deemed a tax resident in some EU country
it doesnt seem so. Since you have border controls, its easy to see you don't spend any time there.
How much better is this than some other much cheaper solution if your end goal is to live semi-hidden in eu (e.g. a paraguay one or another eu one)?
Mainly because of the AMLKYC friction that has occurred across the West namely the UK and it’s overseas territories
You can’t run a enterprise when you have to constantly explain away transactions or have funds frozen whilst investigations occur
All went down hill in the West once Russia invaded Ukraine as frictions came up everywhere
Gibraltar is the holy grail, bar none, for the aforementioned reasons providing you have an EU passport. As for cheap, it is not cheap, the yearly overheads will be £50-60k minimum, not to mention you need a £2m net worth to qualify.
What defines "semi-hidden"? That is frequently mentioned on the forums, what does that even mean? This should be obvious given the cost, but don't work a regular job in the EU and you won't be on the radar. Owning property, leasing property, or having kids in a boarding school does not trigger any tax authorities to audit whether one is a tax resident or not. Owning a car does not either, purchase a car and register it to a company in Andorra with temporary MT plates to avoid VAT and having an EU registered car. The most common reason anyone is ever audited, is that most people with EU citizenship lived in some high-tax EU country for a long time and claim they're no longer tax residents, but still live there full-time, or their country like some horrible countries in the EU, Finland for example attempt to tax those that leave for number of years after they leave.
If you're a Gibraltar cat 2 resident, there is no minimum stay requirement in Gibraltar. If you're an EU citizen you can travel to the EU freely without any visa or any maximum stay limitation. You technically must register as a resident after spending 90 days in an EU country even as an EU citizen, but this is not enforceable, there is simply no way for any EU country to know you've been there for 90 days due to freedom of movement. Furthermore, nobody, absolutely nobody, is going to ask you, an EU citizen, at an EU border (the gates are all automated) where you're a tax resident.
For example, Polish citizen with Gibraltar cat 2 residency buys a house Antibes, France thru a company and spends 4 months there in the summer, while spending the rest of his time in London as an example, but doesn't spend anytime in Gibraltar...
What defines "semi-hidden"? That is frequently mentioned on the forums, what does that even mean? This should be obvious given the cost, but don't work a regular job in the EU and you won't be on the radar. Owning property, leasing property, or having kids in a boarding school does not trigger any tax authorities to audit whether one is a tax resident or not. Owning a car does not either, purchase a car and register it to a company in Andorra with temporary MT plates to avoid VAT and having an EU registered car. The most common reason anyone is ever audited, is that most people with EU citizenship lived in some high-tax EU country for a long time and claim they're no longer tax residents, but still live there full-time, or their country like some horrible countries in the EU, Finland for example attempt to tax those that leave for number of years after they leave.
If you're a Gibraltar cat 2 resident, there is no minimum stay requirement in Gibraltar. If you're an EU citizen you can travel to the EU freely without any visa or any maximum stay limitation. You technically must register as a resident after spending 90 days in an EU country even as an EU citizen, but this is not enforceable, there is simply no way for any EU country to know you've been there for 90 days due to freedom of movement. Furthermore, nobody, absolutely nobody, is going to ask you, an EU citizen, at an EU border (the gates are all automated) where you're a tax resident.
For example, Polish citizen with Gibraltar cat 2 residency buys a house Antibes, France thru a company and spends 4 months there in the summer, while spending the rest of his time in London as an example, but doesn't spend anytime in Gibraltar...
You usually just walk through the borders
I grew up in the area
It’s much easier today than when I was a kid
There is no AML / KYC friction in Gibraltar. It is not on the FATF greylist. This is not related to individual residency in Gibraltar, but a business registered in Gibraltar may have pass-thru subsidiaries in the UK for its front facing business, which to some degree may make doing business easier depending on your industry, but it is not required.
EU passport holder here with gib residence. Every other option is crap (UAE, Cyprus, Malta etc.) Happy with everything.
I did the cat2 residency 2 years ago.
No problems in moving funds Gib-EU (only one time a EU bank asked me for my rental agreement to prove that I actually live there). You can easily show that you paid taxes on the funds you're moving (ex. when buying real estate in the EU). Banks are ok with crypto. Local lawyers do everything for you, mine also reminds me of the due date for tax payments etc, it's very convenient. Not to mention everything is in English. Bulletproof if you actually spend time there, it's not that bad.
The cost is around £65k/yearly because you also have to rent an apartment.
If you plan to cash-out your crypto millies this setup is perfect. Let's say your financial situation changes and the 65k/y would become too much just "check-out" to any other country you want and that's it.
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