Tax Services

About Tax Services

As part of Keyforce Corporate, we can assist you with business and tax structuring and your situation in UAE and abroad, as well as more generally advising your international interests across multiple jurisdictions.

Gibraltar Tax Residency

Gibraltar offers special residency regimes that are specifically designed to attract HNWIs (Category 2) and High Executives Possessing Specialist Skills (HEPSS). These make Gibraltar a very attractive home for entrepreneurs, for retirees and for suitably qualified individuals and their dependants that wish to enjoy the Mediterranean climate and lifestyle while living in an international finance centre with a favourable tax regime.

Keyforce Corporate Fiscalis, now rebranded and trading as Keyforce Corporate Tax Services, is a Gibraltar-based tax compliance and advisory firm, specialising in Gibraltar tax and residency. We can manage the entire residency application process, as well as providing introductions to professional service providers, such as legal, real estate and relocation firms. As part of the Keyforce Corporate Group, we can also utilise its local and international tax and structuring expertise to advise on international arrangements across multiple jurisdictions.

Individuals applying for Gibraltar residency under the ‘Category 2’ residency regime are required to hold private medical insurance (PMI). Through Gibraltar-based Keyforce Corporate Insurance Services, we can further assist with securing competitive PMI, as well as all types of general or life insurance to meet the individual’s insurance needs in Gibraltar.

Category 2

About Eligibility Restrictions Other Information

The Qualifying (Category 2) Individuals Rules 2004 provide for a well-established regime that limits income tax for HNWIs wishing to reside in Gibraltar.

Key ‘Category 2’ Tax Benefits

Gross assessable income is generally capped at £105,000 per annum (2020-21 £80,000 per annum)
At current rates, maximum annual tax liability is £37,310
At current rates, minimum annual tax liability is £32,000
Spouse and family income may be included
Gibraltar does not levy wealth tax, capital gains tax, inheritance tax or gift tax and neither does it levy income tax on many types of investment income.

Eligibility restrictions apply if the applicant has previously been resident or working in Gibraltar within the preceding five years.

Generally, Category 2 residents should not carry out business in competition with ordinary Gibraltar taxpayers. However certain local activities are permitted, with the approval of the Finance Centre Director. Any income derived from such activities may be taxed separate to, and in addition to, the Category 2 tax.

Once established, there is no minimum physical presence required in Gibraltar to maintain Category 2 residency. However, this will not protect an individual from also becoming tax resident elsewhere if they qualify under the residency rules of another country. If a Category 2 individual is spending time outside Gibraltar, awareness of the residency rules in that country is essential.

Gibraltar Category 2 residency is in principle conferred for an indefinite period of time, but it is required to be endorsed every three years. Upon endorsement, the Finance Centre Director considers whether all the requirements of the status have been complied with and that there are no other valid reasons to cancel the residency certificate.

Summary of Benefits

No gift, succession or inheritance taxes in Gibraltar
No capital gains or wealth taxes in Gibraltar
No VAT or sales taxes in Gibraltar
Generally, maximum annual tax liability of £37,310
Good economy and infrastructure
Mediterranean climate
Vibrant housing market

Permitted activities for Category 2 residents, recognising the growing demand from entrepreneurial HNWIs who wish to establish themselves in Gibraltar and still carry out important economic activity

Find details of the Category 2 regime summarised here:
Download Category 2 Summary

Summary of Benefits

No gift, succession or inheritance taxes in Gibraltar
No capital gains or wealth taxes in Gibraltar
No VAT or sales taxes in Gibraltar
Generally, maximum annual tax liability of £37,310
Good economy and infrastructure
Mediterranean climate
Vibrant housing market

Permitted activities for Category 2 residents, recognising the growing demand from entrepreneurial HNWIs who wish to establish themselves in Gibraltar and still carry out important economic activity

Companies, wherever they are based, must pay the salaries of their employees in a timely manner. They must also ensure their income tax and social security compliance in terms of withholding, calculations and reporting. Every country’s employment and tax system is different.

Any organisation entering a foreign market faces a number of employment and tax related challenges. Outsourcing your payroll can free up valuable time and resources, while also ensuring that all obligations and responsibilities are met in a timely and efficient manner in every jurisdiction of operation.

Keyforce Corporate can provide a comprehensive but flexible outsourced payroll service that can be tailored to a client’s specific requirements. The first stage will involve registering the employer and its employees with the local tax office and the government employment department, recording employment notices and contracts, obtaining bank details of the employer and employee, issuing tax codes and, finally, inserting all that information in the Keyforce Corporate payroll system.

Thereafter, on a monthly basis, Keyforce Corporate payroll services will facilitate

Computing employees’ withholdings and net pay

Ad hoc additional payments or deductions

Producing and issuing employee pay slips

Direct deposit pay into employee bank accounts

Expenses and benefits processing and compliance

Arranging documentation for new or departing employees

Preparing revenues payable and remittance submissions to the tax office.

Year-end procedures will also encompass the preparation of tax returns for both the employer and employees and compiling payroll accounting records for the employer.

In addition, through the extended Keyforce Corporate Group, we are able to provide private medical insurance and occupational pension plans that can be integrated into the payroll services system.

Irrespective of whether you are a small organisation taking your first steps in international expansion or an existing multinational business, Keyforce Corporate payroll expertise and experience across many jurisdictions can ensure that you maximise the efficiency of your operations and remain in compliance with all local legislation and regulation.