Question Gibraltar vs Jersey Holding company?

[Alphard]

Hello everyone!

I am considering creating a holding company (to own the IP of my trading company, also own the company itself, reinvesting the dividends into stocks, commodities and other securities).

Now, I've been advised by my accountant to do that in either Gibraltar or Jersey (or Guernsey). All these locations have a very similar law system to the UK (where I'm based) and have low or no tax. I'd actually physically go there at least once every quarter to do a board meeting and make all the investment decisions from there, and no active management or decision making will be made from the UK, so the company is actually managed in its location, even if I am not a resident there.

Now, I am undecided between Jersey/Guernsey and Gibraltar. Apparently, it seems that Jersey/Guernsey have a more established financial system, so it's easier to open banks etc, but it's more expensive and a bit more "exclusive" (e.g. institutions there sort of snob you if you don't have a lot of money) , while Gibraltar is a bit less snobby, but it has less financial services (I've heard it's quite hard to open a bank account there).

Do yo guys have any experience related to these jurisdictions?

 

[Sols]

Your findings are pretty much spot on. As long as you've identified that the differences in the laws aren't meaningful for your use case, pick the one that best meets your needs and situation.

Gibraltar is cheaper but banking options are a bit more limited. You can try opening bank accounts outside of Gibraltar. For these kinds of passive/holding companies, it's not unusual to bank them in Luxembourg, Liechtenstein, or Switzerland provided minimum deposit threshold are met.

Jersey and Guernsey cost more but you usually have access to more banking options locally.

Isle of Man is somewhere in between. Costs a bit more than Gibraltar but access to banking tends to be predictable and of high quality.

 

[SoNewToAllShit]

Jersey and Guernsey cost more but you usually have access to more banking options locally.

any good advise to whom can help with the setup there? some reputable and responsive agency service would be great.

 

[Sols]

any good advise to whom can help with the setup there? some reputable and responsive agency service would be great.

The top ones are probably Appleby, Carey Olsen, Ogier, Walkers, Vistra, Trident, Dixcart, Mourant, Maples.

 

[SoNewToAllShit]

The top ones are probably Appleby, Carey Olsen, Ogier, Walkers, Vistra, Trident, Dixcart, Mourant, Maples.

Thank you I will try them... they are some of them mentioned in mentor group gold I see.

 

[pzulfugarli]

In Gibraltar the banking solutions are indeed very limited. We openned a company in March still struggling with bank account. Banks require the resident director who will have signing power on the account.

 

[bountymounty]

Banks require the resident director who will have signing power on the account.

can't no one provide that of the service providers setting up the company?

Is Wise or Revolut able to setup an account for such company?

 

[lewisjohnson]

Which banks serve Gibraltar besides Revolut and Wise?

 

[SoNewToAllShit]

N26 - FidorBank and more
https://www.offshorecorptalk.com/resources/categories/emi-electronic-money-institution.5/requires mentor group gold