Is Gibraltar a hidden champion?

[daniels27]

They are increasing the flat tax alomst year by year.

 

[Houdini]

do you know what the current tax rate is for companies and personal income tax‍ ?

 

[AlicaFunk]

Corporate tax in Gibraltar is 12,5% makes it the same as Cyprus for instant. There‌ is a capped tax rate for high net worth people, but I can't figure out‍ what the tax rate is for this group.

 

[drphantom]

What would you choose if the costs are almost‍ the same so the paperwork needed to form a company ?

 

[mraleph]

Gibraltar CIT⁠ is 15% from 01-07-2024.

 

[SirGRA]

Unfortunately Cyprus will also raise the CIT from 12.5% to 15%.
They were supposed to‌ do it in 2024 and got a fine from the EUSSR Ursolandia and the clowns‍ from the OECD.
They want to enforce all member states to have, at least, 15%⁠ corporate tax.

The press release
Cheers

 

[Sols]

15% after 750 million⁤ EUR in revenue. I don't think that's a pressing personal matter to most users on⁣ this forum.

 

[cuno]

smi(&%

It’s always great to have you around in⁢ threads where accurate information is needed. I also don’t think CIT at 750 million euros︀ is a major issue for most people here.

 

[CyprusLaw]

As Sols has mentioned,⁤ correctly, the 15% will not apply to everyone, it will apply to multinational and domestic⁣ groups with a total annual turnover of at least €750 million, based on their consolidated⁢ financial statements.

 

[AlicaFunk]

For the rest of us Cyprus is still a good first stop if the rest‌ fits!

 

[bizworks]

As a matter of interest, did you update to a Gib drivers license alongside your⁤ EU home country license plates?

 

[hlepic211]

No, I park the car‍ near the border and mainly use the bus. It's hard to park anywhere and Gibraltar⁠ is small so you don't really need a car except on some occasions (you can⁤ use public transport or taxi)

 

[drphantom]

That makes perfect sense. Worst case, you could even bring an e-bike to Gibraltar.

 

[hlepic211]

Yeah lol. I know a guy (who is a tax resident‍ there for obvious purposes) with 70m worth of crypto holdings... he does exactly that. Worst⁠ case scenario - if everything goes to zero - he won't have to change his⁤ lifestyle.

 

[drphantom]

So he's riding around on an e-bike to blend in with the locals, or at‌ least to stay under the radar?

He could probably invest part of his crypto wealth‍ into property and other tangible assets, just in case crypto ever goes to zero, so⁠ he’s not left with nothing.

What’s life like for a foreigner living in Gibraltar? Is⁤ it manageable, can you live a reasonably comfortable lifestyle there?

 

[uplana]

Isn’t it pretty⁣ much irrelevant, since you’ll have to present a passport, a utility bill, and possibly a⁢ registered address they can send mail to anyway?