Aspen Trust

General Information

• Type of Company – Non Resident with Exempt Company status.
• Legislation – Based on the United Kingdom 1929 Companies Act (as amended) and the Companies Ordinance 1984 (as amended).
• Company name - A company name must end with the word Limited.
• Time-scale for incorporation - 5 to 7 days.
• Disclosure of beneficial owners prior to incorporation is NOT required.
• Double tax treaties - No treaty agreements have been concluded.
• Ready-made companies are available.
• Money laundering legislation is in existence.

Local Requirements

• Registered Office and Registered Agent must be maintained.
• Company Secretary is required and may be a natural person or corporate body.
• Public recording of shareholders and directors are required, but anonymity is retained through nominees.
• Accounts and Audit requirements are required for public filing.

Corporate Requirements

• Minimum number of shareholders - One (1). May be a natural person or a body corporate and can be of any nationality or residency.
• Minimum number of directors - One (1). May be natural persons or bodies corporate and can be of any nationality or residency.
• Minimum capital requirement – GBP£100.
• Standard Authorised Capital – GBP£2,000.
• Bearer shares are allowed, subject to be held by an approved bank in Gibraltar, but not recommended.
• Corporate Directors are permitted.

Annual Requirements

• Annual return and annual statutory meetings are required together with an Annual Return filing fee of GBP£26.
• Statutory accounting is required.
• Annual Government licence fee of GBP£225, with a view to increase to GBP£300, after 1 July 2004.
• Taxation – ZERO tax-rated, as laid down by the intended introduction of the new tax reform for 1 July 2004.