Many clients choose to obtain Gibraltar residence and thereby benefit from our very favourable tax system. We can advise on everything our clients need, including securing resident status, transferring assets, taxes, permits, property, re-domiciling corporate vehicles and setting up trusts.
While we naturally focus on Gibraltar’s competitive legal and fiscal system, our expertise covers a broad range of jurisdictions. We are therefore able to create bespoke structures for private clients establishing trusts and companies both inside and outside of Gibraltar, if required.
High Net Worth Individuals ( HNWI ), Re-domiciling and Trusts
Many of our clients choose Gibraltar as a residential base in order to benefit from a competitive tax regime and English common law. It is also an ideal trust location, as trusts established in Gibraltar enjoy tax-free status, provided they are set up by non-residents exclusively for the benefit of non-residents or people with High Net Worth Individual ( HNWI ) status.
Hassans’ fiduciary services are carried out through our subsidiary, Line Trust Corporation Limited. Our team is widely experienced in protecting the wealth of investors and entrepreneurs, both local and international. Hassans’ subsidiary, Line Trust Corporation Limited executes all the duties of a professional, licensed and regulated trustee.
We frequently advise clients on the best ways to manage and pass on their wealth.
Category 2 Status
Hassans’ Private Client team can also assist High Net Worth Individuals (HNWIs) who wish to avail of the various benefits of obtaining Category 2 status in Gibraltar.
In addition to the obvious benefits of reduced taxable liability, there are other advantages of attaining Category 2 (or “Cat 2”) status. For example, Cat 2 individuals free to engage in economic activities (such as trade or business activities) within the jurisdiction provided the Finance Centre Director deems such activities to be of benefit to Gibraltar’s economy, though such activity will be subjected to local taxation.
There are also no legal requirements regarding how long an individual and his/her dependents must be physically resident within Gibraltar. It should be noted, however, that Category 2 status does not necessarily preclude an individual from being considered a tax resident of a different country. For this reason, we always recommend an initial consultation so we can assess your own specific needs and advise accordingly.
Our Spanish lawyers at the Hassans Sotogrande Office advise on Spanish property, income, capital gains, wealth and inheritance taxes for those clients planning to invest or undertake business in Spain.
They also advise on all aspects of Spanish residency. This includes giving advice on how to transfer assets and minimise tax liabilities, identifying suitable property to acquire or occupy, obtaining work and residency permits, relocating family, importing motor vehicles and compiling Gibraltar and/or Spanish wills.
Wherever necessary, they have access to an advisory network across Spain to assist with larger and more complex cross-border advice.
Structuring and management of portfolios
Our tax advice spans investments of all types. We have considerable experience in creating and managing large and complex structures for portfolios and transactions with values running into billions. In the case of private clients, we are particularly qualified to provide efficient tax and structuring advice tailored to the needs of our clients, their domicile and residence.
We take a practical view when advising clients, and ensure that the corporate, fund and trust structures that we recommend are always effective and viable.
As part of tax planning, we are able to advise and assist with tax residency and domicile issues.
Our tax team offers tailored advice to private clients. As Gibraltar’s largest law firm, we have also played an active role in modernising Gibraltar’s tax laws, to ensure a wide range of tax planning opportunities.