Introduced in Gibraltar in 2008 a company can apply to the Finance Centre Director to have employees designated as HEPSS individuals.

HEPSS individuals must possess specialist skills of exceptional economic value to Gibraltar, have skills that are not available in Gibraltar, and earn between £120,000 - £160,000.

Income tax liability is capped to the first £120,000 of taxable earnings. The cap applies not only to income from the designated employment but also certain dividends, interest, pensions and foreign emoluments. A HEPSS individual will be required to have residential accommodation in Gibraltar that is suitable for HEPSS requirements. The Finance Centre Director must confirm suitability prior to the HEPSS entering into any residential property agreements.

The Finance Centre Director will issue a certificate if the individual meets the criteria set out above and he is satisfied that the applicant is of substantial and sound financial standing, of good character and that the issue of the certificate to the individual will not be harmful to Gibraltar’s reputation as a well regulated Finance Centre.

The above information has been provided to us by courtesy of Legacy Consulting Limited The contents in this newsletter are for information purposes only and do not constitute advice. Legacy Consulting Limited is a law firm registered in Gibraltar with its business address situate at 6.23 World Trade Center, 6 Bayside Road, Gibraltar.

Legacy Consulting

For further information please contact:

Email: emmalejeune@legacy-consultancy.com
Tel: (00350) 20051300