Abacus HEPSS factsheet leaflet A4 v1

WWW.ABACUS.GI Expert Wealth Management & Financial Solutions HEPSS HIGH EXECUTIVE POSSESSING SPECIALIST SKILLS GIBRALTAR - RESIDENCY SOLUTIONS Version 1 August 2021 GIBRALTAR RESIDENCY SOLUTIONSTHE HEPSS STATUS IS AVAILABLE TO THOSE WHO WISH TO RELOCATE TO GIBRALTAR AND PARTICIPATE IN BUSINESS ACTIVITIES. High Executive WWW.ABACUS.GI The HEPSS status is available to those who wish to relocate to Gibraltar and participate in business activities. It is a special employment tax status for companies recruiting senior executives. The HEPSS rules are that a person, under the Gross Income Based tax system, will only pay tax on the first £160,000 per annum. However, to achieve this status, certain criteria have to be met by the applicant: It will only be granted to individuals who, in the Government’s opinion, possess specialist skills that are not readily available in Gibraltar. They must possess skills that are necessary to promote and sustain economic activity of particular economic value to Gibraltar. They must own or rent accommodation in Gibraltar for the year that they are being considered. The property needs to be of a certain standard to obtain HEPSS status They must not have been gainfully occupied or resident in Gibraltar for three years preceding the year that they are applying. They must produce a valid passport and curriculum vitae. They must produce two independent references from recognised institutions or professionals, one of which must be a bank. Once the certificate is issued, it is dependent on the employment of the individual within the same company. Any change in employer will cause the immediate withdrawal of the certificate. The individual must also be expected to uphold a character and reputation that is not in any way harmful to the reputation of Gibraltar. High Executive Possessing Specialist SkilllsThe Abacus Group 5-9 Main Street, Gibraltar GX11 1AA T: +350 200 78777 E: contactus@abacus.gi Contact Us Joanne Rodriguez Associate Director / BSc, DipFA Business Development joanne.rodriguez@abacus.gi GIBRALTAR Philip Cartwright Senior Manager / BA (Hons) TEP - CII Pension Admin philip.cartwright@abacus.gi GIBRALTAR TRUSTED TO DELIVER VALUE Expert Wealth Management & Financial Solutions Please note that the information in this document is intended for information purposes only and no reliance should be placed on it without specific legal, tax or financial advice. Every reasonable effort is made to ensure the information is accurate and up to date. Abacus Financial Services Limited will accept no responsibility for its accuracy and correctness. Abacus Financial Services Limited or its related group of companies do not provide financial, tax, or legal advice and it is your responsibility to procure this independently. Abacus Wealth Management Limited does provide financial advice and is authorised under the Gibraltar Financial Services Commission under separate licence. Abacus Financial Services Limited is authorised by the Gibraltar Financial Services Commission Permission No. 1275 ABACUS FINANCIAL SERVICES LIMITED. WWW.ABACUS.GIWWW.ABACUS.GI TRUSTS · COMPANY MANAGEMENT · FUNDS · PENSIONS · WEALTH MANAGEMENT · RESIDENCY SOLUTIONS · ACCOUNTINGNext >

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