Living in Gibraltar as a UK expat offers one of the most extraordinary lifestyles available. Not only does it offer great climate and lifestyle, it also is very safe and friendly place to be in. We have highlighted the main benefits why we think Gibraltar is a great place to relocate to.
Low-Tax Regime
Gibraltar has a very appealing tax regime for UK retirees, executives and entrepreneurs. Corporate Tax is 10%. In Gibraltar there is no Capital Gains Tax, Sales Tax or VAT. Workers in Gibraltar are given a choice of two personal tax systems — an allowance-based system and a gross income-based system. The standard rate of tax in Gibraltar is 25%, subject to the taxpayer’s level of income and the tax system selected. Residents are not subject to Inheritance Tax, nor are they taxed on interest on savings or share dividends. Retirees pay 2,5% tax on pension income from QROPS or QNUPS.
Climate
With more than 300 days of sunshine, weather is usually dry and the rain you only get during the winter months. Gibraltar offers a Mediterranean / subtropical climate and temperatures in the winter very rarely drops under 12 degrees. The average temperature in summer is around 24 degrees.
Various cuisines
In Gibraltar everyone can find something for themselves. Every cuisine can be found here, starting from Fish&Chips to amazing Indian curries. You will find many tapas bars around the area offering quality meet and fish fresh from the local market. Morrisons and Waitrose are here so you can still get all your favourite UK treats. Gibraltar is very close to Africa, specifically Morocco, so real Moroccan food can be found in Gibraltar too. One of Gibraltar’s best dining experiences is Italian — a nod to the Genoese community that has been there since the 16th century.
Great location
Gibraltar is situated on the southern tip of the Iberian Peninsula, offering views to Spain and Africa. Gibraltar is ideally located between two popular but so different coasts – on one side just an hour drive away is a windy surfers paradise Tarifa offering loads of water sports and white sandy beaches and on the other side again just an hour drive away Costa del Sol that includes Marbella, Puerto Banus, Fuengirola and other great cities full of bars, restaurants and beaches on the Mediterranean sea, guaranteeing perfect weather all summer long. There are endless beautiful destinations in Andalusia to visit and is not that far off a drive from Gibraltar. Just an hour boat trip and you are in Africa! Gibraltar has its own airport, so you can easily fly back to the UK to visit family and friends.
If you are planning to relocate to Gibraltar or just considering at the moment and have more questions about all the fiscal matters, please give us a call +44 207 998 0570 or e—mail us connect@fwm.gi and we are happy to provide you with more information.
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