High Executive Possessing Specialist Skills (HEPSS)
A special employment tax status is available for employees as a cost saving incentive for companies recruiting senior executives.
These individuals must satisfy the Finance Centre Director that the appointment of a HEPSS individual will promote and sustain economic activity of particular economic value to Gibraltar.
A HEPSS individual shall be charged to tax limited to the first £120,000 of their assessable income only and will therefore be capped at a maximum tax of £32,500 per annum.
A HEPSS individual must have available for exclusive use approved residential accommodation in Gibraltar for the whole year of assessment and cannot have been gainfully occupied or resident tin Gibraltar for 3 years immediately preceding the HEPSS application.
Category 2 Individuals (HNWI)
Gibraltar offers the opportunity for High Net Worth Individuals to obtain Category 2 status which places a cap over the tax liability of an individual. Tax is applied to the first £80,000 of assessable income (including worldwide income) meaning that a Category 2 individual will pay a maximum of approx. £30,000 tax per annum, with a minimum tax payable of £22,000.
A Category 2 individual must have a minimum net worth of £2million, have available for exclusive use approved residential accommodation in Gibraltar for the whole year of assessment and cannot have been occupied or resident in Gibraltar for 5 years immediately preceding the Category 2 application.