• 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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GIBRALTAR INVESTMENT FUND MANAGEMENT LAW
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The Financial Services Commission is responsible for the regulation of investment funds in Gibraltar under the Financial Services Ordinance; the Financial Services (Collective Investment Schemes) Regulations 1991 set up regulatory regimes for different types of fund, and implemented the EU UCITS Directive (85/611/EU).
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Investment funds in Gibraltar are usually formed under a trust deed either as unit trusts or mutual funds, or under the Companies Ordinance as private or public companies. A public investment company (PIC) must have a minimum paid-up capital of G£50,000 and if it is not listed on a recognised exchange its head office must be in Gibraltar.
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Funds formed to be UCITS (Undertakings for Collective Investment in Transferable Securities) which under EU rules can be freely marketed throughout the Union under the Single European Passport provisions, must be open-ended and are limited to certain types of transferable security.
- Those listed on a stock exchange in the European Union;
- Those traded on another regulated market in the European Union;
- Those listed on an approved stock exchange or traded on an approved, regulated market outside the European Union;
- Recently-issued securities; and
- Approved, publicly-traded debt instruments.
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The authorities do not demand that the administration of a fund must be carried out in Gibraltar, as long as there is a sufficient strength of management in Gibraltar to allow for effective supervision. There is a requirement however that the trustee of a fund and the manager should be in separate organisations and should act independently, even if they have a common parent.
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The charge on application for a license is G£500, and there is an annual license fee of G£1,500. Fund managers may apply for a tax-exemption certificate (no tax payable) or for a qualifying certificate (tax payable at a rate between nil and 35% as agreed with the authorities.
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