Is Gibraltar a hidden champion?

[wellington]

May you elaborate on this friction? Got a specific example?

See the UK system wide financial screening and de banking since 2022.

That’s also being applied on the overseas territories

If you are not aware I am not going to sit around and explain.

 

[LFGC]

You don't need to bank in the UK as a Gibraltar resident. I am unaware of any system wide attempts at debanking Gibraltar. Since I am apparently unaware, do you have a link? Most recently the UK fought hard for Gibraltar and vehemently claimed it was not being used to avoid Russian sanctions, which the EU alleged, UK's stance on Gibraltar seems to be quite positive overall. UK as a country really only exists due to its business friendly and progressive, some former now (non-dom), tax policies, which overseas territories are instrumental in.

 

[manukahoney]

No problem with banking in Gibraltar.
If needed you can also have some basic retail banking in neighbouring Spain. There is also local Xapo if you are into crypto.

 

[hlepic211]

How much time do you actually spend there? Gibraltar is turbo-small, with an EU passport you can disappear into the EU for unlimited amounts of time without issues. Do you bank in Gibraltar or in the EU?

I have a base there now so quite a lot of time mainly working from home. Banking in both EU and Gib. EU banks updated to Gib address, no problems so far.
If we think legally I can spend 1 day in Gib and then run around EU but have to be sure that I don't trigger tax residence anywhere (ex. neighbouring Spain). But as you mentioned if you have a EU passport it doesn't really matter. If you want to be safe make sure you "buy coffee" every morning in Gib and that these transactions are visible on your bank statement.

And btw I drive EU license plates from my home country (passport country) so that when I'm stopped anywhere in the EU no cop will get confused. I don't drive in Gib (it's small anyway so you don't need to).

 

[JackAlabama]

I have a base there now so quite a lot of time mainly working from home. Banking in both EU and Gib. EU banks updated to Gib address, no problems so far.
If we think legally I can spend 1 day in Gib and then run around EU but have to be sure that I don't trigger tax residence anywhere (ex. neighbouring Spain). But as you mentioned if you have a EU passport it doesn't really matter. If you want to be safe make sure you "buy coffee" every morning in Gib and that these transactions are visible on your bank statement.

So is this any better than what I can do with paraguay or dubai papers for a lot cheaper?

 

[sergeylim88]

what if you run offshore company from Gib?
what's the tax situation then?

 

[hlepic211]

So is this any better than what I can do with paraguay or dubai papers for a lot cheaper?

For me yes because I don't have to waste my life living in the barbie desert. Cheaper or no - it depends really, if your personal income is for example mid 6 to 7 figures per year I believe it's worth it. You're paying around 65k (tax+flat rent) and enjoying the benefits of having SoF and free movement of your funds which is rare nowadays.