Unknown Tax Haven With NO Stay Requirements
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- čas přidán 2. 06. 2024
- Gibraltar- a British Overseas Territory and located at the southern tip of the Iberian Peninsula. Many know of this peculiar place, and we get questions about it often.
What does Gibraltar offer that may be interesting? Can you live there tax free? Is Gibraltar a tax haven? What are some interesting things about this tiny British territory bordering with Spain?
We will talk about the best way to gain residency, which is also tax residency, known as the Category 2 residency. We'll also be talking about High Executive Possessing Specialist Skills (HEPSS).
The most notable thing about Gibraltar is that there are no physical presence requirements in order to get and maintain your tax residency.
Some other things to note:
-No capital gains tax
-No wealth tax
-No inheritance tax
-No VAT
This all sounds awesome, but is it worth it to move to Gibraltar for tax reasons? What are advantages and disadvantages of living in Gibraltar, and should you get a residency there?
Hidden Tax Haven in Europe - Gibraltar
Tax Haven With NO Stay Requirements That Nobody Talks About
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Introducing Michael Rosmer, the true modern-day Renaissance man and international entrepreneur, who has been mentored under top international tax attorneys.
He is widely regarded as the foremost international tax expert for legal cross-border tax planning, with extensive experience in immigration, residency, and second citizenship for those seeking a plan B, asset protection, global offshore banking, and payment processing.
Michael leads a team of lawyers and accountants who are top experts in their respective fields. This multi-lingual, multi-national team has worked with digital nomads, entrepreneurs, and investors from 62 countries, providing practical real-world multi-dimensional solutions for their clients.
At Offshore Citizen we understand that each individual's situation is unique. Unlike most industry service providers, we do not push any particular country or solution. Instead, we analyze your individual situation and custom-tailor the best countries and strategies for you, drawing on every part of the globe.
With Offshore Citizen, you can rest assured that you are in the hands of professionals who have your best interests at heart. Let us guide you through the complex world of international tax planning, immigration, residency, and second citizenship.
Contact Michael today for a personalized consultation and take the first step towards securing your financial future.
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Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships.
☎️ Book a call with Michael:
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Michael leaves NO stone unturned, even the Rock Of Gibraltar!
This made me laugh😂 I get it the guy is unique because he provides the business perspective
thank you - another informative video - perhaps you could do a video comparing all British low/no tax territories - Gibralter, Isle of Man, BVIslands, etc. and why group A or B or C would choose each.
Great suggestion!
When you compare these are you able to provide a summary table of the key information please... sometimes i get lost with all the words. Thankyou
Excellent idea! I'd love to see this.
I'm near the point of scheduling a chat to strategize but would like to be more informed to waste less time/make a better decision for my situation. That video would help immensely right now!!
Thanks David will see what we can produce. There's always some consideration of the time involved in putting these things together given its a pretty niche topic
Great info as always, Michael. Thanks. Definitely one to keep in mind…
My requested video!! Michael, you are a true gentleman.
I RESIDE IN GIB AND AM ALSO A USA CITIZEN. Gib is fantastic. Wonderful place to live!!!!
32000 residents. Not part of the UK. Tip of the Iberian peninsula. Video at the beginning is not Gibraltar. Only cigarettes, liquor and petrol are cheaper, despite no VAT the rest is pretty much equal or more expensive than its neighbor. CAT2 minimum is GBP 2 million. CAT2 minimum tax is GBP 37000, not 32000. And you missed the huge selling point that it's highly likely to be part of the Schengen area any day now, therefore travel access to much of the EU/EEA.
Good corrections. We have chosen CAT2 in Gibraltar for our family and it is indeed minimum 37k, GBP 2m. And yes, it is English speaking which is rare when it comes to decent tax solutions. And a great family place with Spain next door.
Yeah, I also raised my eyebrow when he said "part of the UK" 🤨
Also not a crown dependency…those are just the Channel Islands and the Isle of Man
Has income taxes and property taxes
Not uk . He got that incorrect
I came back and watched it again. 😁
Haha thanks! What do you think of Gibraltar?
my suggestion to those wishig to visit: park & leave your car in La Linea. walk across the border, use local transport. we drove into Gibraltar for a delightful visit, they even drive on the right there. but, driving back into Spain was a *nightmare!* the border crossing was SO slow! it took hours.
Thanks for the insight!
What did you like about Gibraltar?
@@OffshoreCitizen friendly folk who spoke English - the Tex-Mex-Spanish which surrounded me as i grew up didn't help much in Spain - and the monkeys on the Rock were cool. have read that English language skills are more common in Spain now than they were a quarter-century ago.
Is this a pathway to British citizenship? If so, would you do a separate video on it?
the border crossing between spain-gibraltar is not like normal border crossings. the guard gives a quick glance at your passport as if you are bording a train. went before covid, the mountain is a great place to visit (great hike, historical base/canons, wild monkeys, stalactite cavern, sky bridge
Could you ever live there? How do you like Gibraltar?
I'm creating a company there, I believe there's a self-sufficiency and ordinary resident option as well--are you aware if the no minimum stay requirements are limited to Category 2, or all Gibraltar residents? Cheers
It is a bit small and claustrophobic. It also has the higher Freemason ratio to people I know of anywhere. It is a warm and bright place with a peculiar language that is a mix of English and Spanish with the ability to drop into both. The tax at £37000 upwards is great to the £12000 in the UK.
We’re here now! Went up the rock this morning. For me it’s a bit of an anomaly. Didn’t feel especially cheaper even without vat. Extremely small - little England in sun.
Nice!
Feeling homesick? :)
@@OffshoreCitizen fish and chips were terrible!!! 😂
😂😂
Are foreign pensions taxed in Gibraltar? Specifically, public/government pensions, such as US military or U.S. government pensions and social security?
hi michael...could you please make a video talking about trading ? Best countries for tax reasons, how to pay less, loopholes working in several places etc thanks mate
You mean like day trading? If so we've got at least one video on that but can make more
@@OffshoreCitizen yes, day trading. Thanks
@@OffshoreCitizen also interested where to set up investment company that holds mainly securities without being subject to complicated regulations of the financial authorities.....
That's a more complex topic the thing with a lot of these are they are really case specific. For instance it could be totally different depending on your country of residence or types of investments you're dealing with. This is why we do calls and detailed strategy design custom tailored to your individual situation.
Does the scheme 2 as a tax resident, allow you free movement with in the EU Schegan area and still reside up 5.5 months in other jurisdictions understanding that everything in one’s life is structured as a legal office Gibraltar tax resident ?
Under an agreement with Spain Gibraltar will join the Schengen zone.
Regarding residing 5.5 months in other places it depends on the place. You can be tax resident in many places without being there for 6 months. You also might need a residency permit there that could obligate you
No agreement as of yet..
Hi Mike, it is quite hard to find the right video., because in the title of all of yours Videos is no word "Gibraltar", but you mentioned in your last videos that you did a lot in the past in Gbraltar, so I am wondering to find nothing. Means -> nobody is able to find you. Hopefully this helps you ... cu Leonardo
Do they have a separate passport and citizenship like other overseas territories like Anguilla, or is it the same ordinary passport that UK citizens have?
Both. They can choose to have either a BOT passport or a British one but not both. Since 2002 they can be British citizens
www.gov.uk/apply-citizenship-british-nationality/gibraltar#:~:text=You%20have%20a%20connection%20with%20Gibraltar,-You%20probably%20became&text=You%20can%20apply%20to%20register,minor%20after%2021%20May%202002
Would registering a yacht in Gibraltar (bought via a local yacht broker) and leasing a marina space for it when not cruising the Med meet their residence test?
Great question I'm not sure
@@OffshoreCitizen Have a look into this. I'd also like to see your views on the tax and residence options of literally being a real "offshore" citizen, like someone who's on a five year circumnavigation on a 50 foot catamaran.
Not at this very moment
What about the corporate tax?
Did you make the video on forming a company there?
Yes, should have been shortly after this one
Hi,
is it possible to live in spain,
nearby to Gibraltar,
and only pay taxes in Gib.?!
Maybe, I would need a physical presence there?! (apartment)
As I see it, its quite expensive, is it?!
No not possible you will still pay tax where you live
PS: ... I looked for a company solution only to protect a new Brand, means no operating business, no VAT is needed. Means a most easies Ltd will be nice. But what it the best place to establish this ltd??? ... e.g no accounting and less reporting needs will be fine :-) (.e.g. no P6L and no Balance sheet) .... cu Leonardo
Is the comparison video comming soon between Dubai and costa rica and maybe malasia ? I like Dubai but not the air there and the lack of nature
Soon
Does residency in Gibraltar grant you schengen visa free access?
No
…and if I live on crypto only? No trading but like remittances money from another country or continent? It is not income in terms of employment or self employment.
Thx for the video. Small but pretty important correction: Gibraltar is not part of the UK and UK citizens DO need a residence permit since 2021.
Gibraltar is absolutely a UK territory & UK citizens are allowed to live and work there. There's an administrative procedure but it's minor.
EU citizens are not allowed since Brexit without going through a full residency process.
@@OffshoreCitizen Gibraltar is a British overseas territory, but not "part of the UK" (as you say at 1:50) - this may sound overly pedantic, but has some very important implications. As a UK citizen, you either need a job or have to go through a lenghty business-registration process to get a residence permit - you can't just live off your savings/investments. I went through the process a couple of years ago and have helped a number of investors to get their Gibraltar residency. EU citizens are allowed if they have a job offer, but can't currently register a business (this might change once the post-brexit negotiations are finalised). If you have any questions, I'm happy to help you (or your clients) out - I've learned a lot through your videos & happy to give back.
@@StopLossLOL "As a UK citizen, you either need a job or have to go through a lenghty business-registration process to get a residence permit - you can't just live off your savings/investments."
I would have thought this: Only Gibraltarians and British citizens are allowed to live and work in Gibraltar without a residence permit, which is printed in the UK gov website and most other websites advising expats.
how about a uk resident opening a gib ltd company so no corp tax?
I've got some upcoming videos discussing details, generally it's not going to work or not be the best option but it depends on the substance.
Have you watched the previous video on international tax planning for UK residents?
@@OffshoreCitizen I thought If you didnt trade in gib it 0% corp. yes I saw it but couldnt find the right info to help
@@OffshoreCitizen Do you mind sharing the link for that video? I didn’t find it. Thanks, Michael!
It was from a couple days ago
The issue isn't whether Gibraltar will tax you it's whether UK will tax you. I'd you're resident of UK you need to focus on understanding and working around UK laws. Our most recent video was on this
If you were to become a resident of Gibraltar, if after about 10 years down the road, if you want to become a citizen is that even possible ?
Should be possible as I understand it (we are in the program), but you will face different annual staying requirements/year vs those under CAT2.
Yes it's possible to naturalize in Gibraltar
I'll pass.
Haha why so?
Michael, how many times have you been audited for tax avoidance?.
GIBRALTAR is a ENGLISH TAX HAVEN in SPAIN with LOW TAXATION but HIGH COST of LIVING.
Well it's not in Spain but otherwise yes that's true
They don't want to live there or put money into that local economy. They want to hide their money. They will better use them for the better to change this rotten system
British Overseas Territories Citizens are not normal British Citizens. Permission is required to live and work.
Gibraltar citizens are full British citizens as of 2002
www.gov.uk/apply-citizenship-british-nationality/gibraltar#:~:text=You%20have%20a%20connection%20with%20Gibraltar,-You%20probably%20became&text=You%20can%20apply%20to%20register,minor%20after%2021%20May%202002