Region Profile:

Gibraltar, positioned at the southernmost part of the Iberian Peninsula, stands as the UK’s tiniest overseas territory. Tourism and offshore finance are Gibraltar’s main economic pillars. The island followed the UK in leaving the EU, but since 2021 it has joined the Schengen Area.

Population: 34,003 (220th)

Demonyms: Gibraltarian

Area: 6.8 km²  

Offical Language: English

Currency: Gibraltar pound (It is pegged to – and exchangeable with – sterling at par value)

GDP per Captial: £50,941

How To Immigrate To Gibraltar:

Beyond offering work visas, Gibraltar extends a high-net-worth (HNW) visa category. This is targeted at foreign individuals with assets exceeding 2 million pounds who commit to an annual tax payment of at least 37,000 pounds locally.

HNWI Visa Category 2:

Gibraltar’s HNWI Category 2 visa offers overseas individuals a local tax resident option. To qualify, one must possess assets surpassing 2 million GBP, the equivalent of the British pound in local currency. Additionally, securing property in Gibraltar, either through purchase or lease, is essential. The applicant also need to commit to an annual tax payment of at least 37,000 pounds locally. The visa comes with a 1,000 GBP application fee and a due diligence charge of 15,000 GBP.

The necessary application materials include: personal resume, passport, proof of assets; evidence of good moral character endorsed by a bank and showing no criminal record; proof of purchasing local medical insurance; and proof of having a residence locally.

Applicants can bring along spouse, children, siblings, parents, and in-laws to reside locally. The local government only taxes the first 118,000 pounds of the visa holder’s global income. This means that a Gibraltar HNWI Category 2 visa holder has a minimum annual tax payment of 37,000 pounds and a maximum of 44,740 pounds. Additionally, there are no local taxes such as VAT, capital gains tax, inheritance tax, etc.

The Category 2 residence visa is an indefinite visa, but applicants must submit materials to the Gibraltar Financial Centre every three years to prove their financial strength.

Naturalization:

After legally residing in Gibraltar for a full 5 years, during which one should not leave Gibraltar for more than 450 days and after gaining proficiency in English, foreigners can apply for the British Overseas Territory Citizen (BOTC) passport.

Useful Links:

Gibraltar Tax Residence：https://www.gibraltarfinance.gi/private-clients/tax-residence

Gibraltar HNWI Visa Category 2：https://www.gibraltar.gov.gi/income-tax-office/individuals-and-employees/qualifying-individuals