Residence Permit in Gibraltar

Gibraltar as a jurisdiction today is a self-governing peninsular city-state under British control. These places have a strategically important location, due to the location at the entrance to the Mediterranean Sea, connecting Europe and Africa. The mild Mediterranean climate, as well as the maximum proximity to Europe, make this country a very attractive place for rich people to live. The state offers a high quality of life, security, an excellent education system with access to all kinds of sports and leisure activities locally or across the Spanish border. Due to its leading international position as the financial center of the EU, Gibraltar is an ideal place to do business with representatives of the European Union.

Here are the main advantages and disadvantages for obtaining resident status in Gibraltar:

• The authorities do not require actual habitation in Gibraltar to obtain tax residency;
• Obtaining a Gibraltar residence permit helps to solve problems with opening an account in most of the world's jurisdictions;
• An alternative to taxation in the state is a fixed annual contribution of £32,000 per year, as well as mandatory insurance in the amount of £20,000
• No VAT;
• No taxes on inheritance, capital gains and wealth;
• Business culture and legal system recreated in the likeness of the English common law model
• No double taxation agreements

Obtaining a Gibraltar Status Category 2 (Residence Permit in Gibraltar)

An analogue of a residence permit in Gibraltar is Category 2 Status, but “by force of habit”, we will call it a residence permit. By becoming a resident of Gibraltar, you will have a whole list of tax advantages available only to really rich people. However, the process of obtaining a residence permit here is very complicated and time-consuming, but thanks to the qualified specialists of the company “Positive Invest” you will be able to achieve your goal.

Step-by-step algorithm for obtaining a residence permit in Gibraltar:

1. Collection of the necessary package of documents for applying for permission to obtain resident status (to the immigration department)
2. Prior to the applying, it is necessary to acquire a rental property, or purchase it. Rental prices can start from £1,600 per month. It is worth noting that a fairly small number of offers are usually presented for renting real estate, due to their shortage in the real estate market of the city-state.
3. Consideration of an application for status (may take from 2 weeks to a month after the submission of original documents)
4. After obtaining a permit, documents are submitted for obtaining a residence permit. It is necessary to open an English or Schengen visa in the passport.
5. After a positive consideration of the application and obtaining the status (Cat2 Certificate), it is necessary to take out insurance.
6. Upon the readiness of the Cat2 Certificate card, you must visit Gibraltar, or open a power of attorney for your representative who can do this for you.

List of documents required for the first stage:

1. Documents confirming the presence of net assets in the amount of at least £2,000,000 (an official letter from an accountant, bank or lawyer will do).
2. Personal reference (recommendation) from a bank and a lawyer, accountant or other bank provided in a specialized format.
3. A resume confirming the sources of the applicant's wealth.
4. Notarized and translated into English copy of the passport (also a copy of the page with the Schengen or English visa

So, if you definitely decided to get a guaranteed residence permit in Gibraltar, and want to have strong guarantees of your success, contact Positive Invest. We would like to remind you that we can also be of assistance to you in opening bank accounts, registering a company and many other issues both within the country and abroad.