Gibraltar is active in the private client market and is an attractive destination for the high net worth individual in terms of lifestyle and tax management. It is a cornerstone of the finance centres continued success. Firms in Gibraltar are able to offer a wide variety of tailored solutions catering for complex personal requirements. Included in these is a tax residence programme for high net worth individuals who relocate to Gibraltar, capping their income tax charge to a maximum of approximately £28,000 High earning professionals possessing specialist skills may also benefit from a reduced income tax charge under the HEPSS scheme.
Individuals who may wish to manage their affairs by way of a transparent and compliant trust, or company arrangement, also have a wide choice and excellent advice available via advisers in Gibraltar. Gibraltar provides other benefits including no capital gains tax and no inheritance tax.
There are 11 banks and building societies currently licensed in Gibraltar, employing over 500 people. They range from large global institutions to specialist private and investment banks and building societies and include the Gibraltar International Bank which opened it's doors to business in April 2015. They provide a full breadth of solutions to their clients’ needs in all areas of banking.