• Gibraltar Non-Resident Company
• Private Company Limited by Shares
• Company Limited by Guarantee
• The Gibraltar Tax Exempt Company
• The Gibraltar 1992 Company
• Public Company Limited by Shares
• Branch of Overseas Company
• The Qualifying Company
• Protected Cell Company
• Insurance companies
• General Partnership
• Limited Partnership
• Investment Funds
• Foundations
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SETTING UP A GIBRALTAR CAPTIVE
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Minimum solvency margin - 18% of gross written premiums (or gross premiums receivable – whichever is the higher) or 26% of gross average annual claims (after three years) - whichever is the greater - multiplied by the ratio of claims net of reinsurance to gross claims (minimum: 50%); premiums for aviation, marine and general liability classes need to be increased by 50%; required margin cannot be less than at previous year-end. The Commissioner of Insurance will always require a higher-than-minimum margin, which will be dependent on the insurance exposures to be assumed by the captive.
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Shareholders - Minimum of one.
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Directors - Minimum of three.
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Reporting requirements - Annual audited accounts and supervisory returns to be submitted within six months of the year-end. (Life companies must additionally submit a copy of the actuary’s report.)
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Local taxes - Two options currently available:
- Tax-exempt status: £225 annual fee;
- Local company: 20-35% corporate tax;
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Stamp duty - 0.5% on authorised share capital but not on share transfers (maximum: £5,000).
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