• 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 FOUNDATIONS & TRUSTS
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Liechtenstein has been marketing foundations since 1927 and foundations account to a large extent for its success as an offshore. For those of us based in a common law area we might well ask what kind of a legal animal is a “foundation”. A foundation consists of a fund dedicated to a given purpose with its own legal personality. Foundations are often devoted to the maintenance, advancement and education of a particular families or persons.
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A trust in common law countries does not have legal personality to the same extent. For example property must be in the name of all the trustee and legal action must be brought in the name of all the trustees. For clients based in Civil Law jurisdiction the concept of trust is sometimes difficult for them to understand. It can also lead to difficulties with authorities who do not accept the concept of trust.
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The Gibraltar Private Foundation Ordinance 1999 establishes a regime for foundations as 'vehicles for the holding of private assets endowed on the foundation for the benefit of identified persons or classes of persons', and is effective from 1st January 2000.
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Foundations may not carry on trading or financial services business. A foundation is established by a deed of endowment or by a deceased person's will, either of which constitute the Memorandum of Endowment. A foundation has officers, with prescribed duties, a secretary, a registered office in Gibraltar, and a supervisory board. A foundation must be registered with the Registrar, who must be sent an annual return. A Register must be kept at the registered office with details of the various parties associated with the foundation. A foundation may re-domicile into or out of Gibraltar.
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