Cat 2 & HEPSS

 
View all Cat 2 Gibraltar Property

HNWI's & Category 2 Status


This special tax status is aimed at High Net Worth Individuals with net assets to a net value of at least £2 million.

The main benefit of this Category 2 status is that tax is only payable on the first £70,000 of taxable income and the maximum annual tax liability is £25,880.

Application Fee

£1000 (Non-Refundable)

 

 

Prior to Application 

The Applicant must not within 5 years prior to application have been present in Gibraltar for a period greater than 183 days in any one of those years, or an average of 90 days in any three of those years.

Further, the Applicant must not have been engaged in a trade, business or employment in Gibraltar other than duties incidental to any trade, business or employment based outside Gibraltar, or as a director of an exempt company.

 

 
 

Property Requirement
 

The Applicant is required to either purchase or rent an apartment in Gibraltar and have it available for his or her exclusive use throughout the year and the accommodation must be of a certain standard appropriate  to sustaining the lifestyle of a wealthy individual.


 Property Approval Application
 

A 'description of property' form must be submitted for  approval by the Finance Centre Director at the time or  within two months of the issue of the certificate. 

Bray Properties' undertakes this service on behalf of all our clients at no cost to them and ensures approval is granted by the DTTI before they commit to any purchase or rental contract.

Length of Stay


Bray Properties' undertakes this service on behalf of all our clients at no cost to them and ensures approval is granted by the DTTI before they commit

Unlike the former High-Net-Worth Individual Rules 1992, which required individuals to spend a minimum of 30 days in Gibraltar each year, there is now no specific legal requirement as regards the length of stay in any particular year. 

 

 

HEPSS Properties

View all HEPPS Properties

HEPSS "High Executive Possessing Specialist Skills"

This status replaced the Category 3 & 4 status and is aimed at workers with specialist skills of exceptional economic value to Gibraltar, earning more than £100,000 p.a. 

The tax payable by a HEPSS is limited to the first £100,000 of earned income and they may choose between the Allowance Based or Gross Income Based Systems.

 

 

Property Requirement

The Applicant is required to either purchase or rent an apartment in Gibraltar and have it available for his or her exclusive use throughout the year and the accommodation must be of a certain standard appropriate to sustaining the lifestyle of a wealthy individual. 

Property Approval Application

A 'description of property' form must be submitted for approval by the Finance Centre Director at the time or within two months of the issue of the certificate. 

Bray Properties' undertakes this service on behalf of all our clients at no cost to them and ensures approval is granted by the DTTI before they commit to any purchase or rental contract.