Gibraltar
Residence and Property
Nationals
of EU member states have the right to enter,
live and work in Gibraltar. Initially a six-month
visa is given, and then a 5-year renewable residence
permit, provided that they have found suitable
employment or have started a business. Work
permits cannot be denied to EU citizens.
Other
nationals have to apply for residency under
the Immigration Control Ordinance and permission
is issued by the Governor. Government guidelines
indicate that an applicant for residency must
be ready and able to purchase a property of
sufficient size to accommodate himself and his
family, must be in good health, and must have
adequate financial resources. The Government
looks more favourably on those applicants who
purchase luxury property in Gibraltar.
Property
bought by a non-resident may be owned by an
individual applicant or joint applicants, or
alternatively, in the name of a company of which
the applicant is the 100 per cent beneficial
owner and over which he/she has full and effective
control. In fact there are tax advantages if
the property is purchased through a Gibraltar
company. It is not essential that the property
be purchased prior to approval of an application.
However, the property to be purchased must be
nominated and a refundable deposit paid to reserve
the property for the applicant until the application
is considered by the Government. Once the application
is approved the applicant, on completion of
the purchase of the property, will obtain a
permit of residence. A permit is renewable after
a specified term providing the requirements
are met and the property is owned by the applicant.
The
holder of a residence permit need not live in
Gibraltar and is not automatically entitled
to social security or citizenship. However,
the resident's children may attend local schools
and are entitled to the same benefits as other
local residents.
If
a non-EU national wishes to stay in Gibraltar
other than through the property 'doorway', he
must try to find employment, for which he will
receive a work permit only if there are no Gibraltarians
able and willing to perform it. Such individuals
will be given residence permits for shorter
or longer periods depending on the nature of
the work for which they have a permit. The government
can deny a non-EU national the possibility of
buying residential property.
Non-Gibraltarians
need work permits, issued under the Control
of Employment Ordinance. A work permit cannot
be refused to an EU national.
In
the June 2007 budget, passport Issue and renewal
fees were abolished for persons aged 65 and
over.
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Gibraltar
Office Facilities
Office
space could - at the time of writing - usually
be rented at between GBP8 - GBP15 per square
foot per year. Few offices come already furnished
so it is likely that furniture will have to
be bought in Gibraltar or imported from Spain.
Locally bought goods such as computers and office
equipment can be expensive and remember all
goods that are imported (except foodstuffs)
are liable to import tax; but there is no VAT.
VAT on items purchased from the EU can be reclaimed.
A
new Business Property Occupation Tax was introduced
in respect of property occupied in Gibraltar
by companies for business purposes when
corporation tax was reduced to zero for all
companies in 2003. However, this replacement
measure for the 'Exempt' and 'Qualifying' companies
regime is under dispute, with an European Court
of Justice ruling awaited at the time of writing.
In
terms of utilities, water is distilled from
sea water but is metered and can be expensive.
Electricity is generated locally and can also
be a bit more costly than the UK but at least
the heating bills are cheap!
Telecommunication
rates have been about the same as in the UK
but they have been favourably affected by liberalisation
measures.
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