Gibraltar is a beautiful, small peninsula in the South region of Spain, but the local law system is applicable under the United Kingdom’s legislation, as the state is a British Overseas Territory. Gibraltar has a special tax regime amongst European Union’s states and it is considered a “tax haven”, as many taxes, including VAT, are not available here. If you plan on investing in a business in Gibraltar, opening a travel agency may represent a good option, as the peninsula represents an exotic touristic attraction for travellers around the world.
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Tourism highlights in Gibraltar
With a surface of less than 7 square kilometers, the main touristic attraction of the peninsula is the Jurassic Limestone Rock of Gibraltar, which offers a great view of the Mediterranean Sea and of the mainland. Gibraltar has wonderful weather conditions and interesting touristic points, such as:
• The Great Siege Tunnels,
• Saint Michael’s Cave,
• The Moorish Castle.
Except for these touristic attractions, tourists around the world are interested in Gibraltar as many luxury products are less expensive here, due to the tax policies imposed by the Gibraltarian government. If you want to set up a company in Gibraltar, our company formation agents can provide you with information about the touristic market available here.
Types of companies available in Gibraltar
When you will set up a business in the field of tourism in Gibraltar, you should know that the following types of companies are available under the Gibraltarian legislation:
• Private company limited by shares, which is the most common type of company incorporation in Gibraltar; the company requires at least one director and a registered office in the country. Information on the shareholders and the capital of the company must be made public; our company formation specialists in Gibraltar can provide you with more information on this matter.
• public company limited by shares, that is usually owned by non-residents;
• branch of overseas company, which will be considered as a local company, according the Gibraltarian legislation;
• general partnership, which requires at least two partners; one of them must be a resident of Gibraltar;
• limited partnership, that must have its main business location in Gibraltar.
If you need more information on the tourism market in Gibraltar, please contract our company formation agents, who can provide you the best solution for your business.