Taxation of Qualifying (Category Two) Individuals
In February 1992 Gibraltar introduced new low tax limits for high net worth individuals to encourage such individuals to become resident in Gibraltar.
Qualifying (Category Two) Individuals will pay tax on the first £50,000 of assessable income, which results in a maximum tax charge of £24,000 and in any event may not be less than £14,000. Only income arising in or remitted to Gibraltar is taxable.

Advantages
Apart from limiting one's tax liability to between £14,000 and £24,000 irrespective of the individual's income a Qualifying (Category Two) Individual would also benefit from the following:
• There is no Estate Duty in Gibraltar.
• A Qualifying (Category Two) Individual may continue to hold a Gibraltar tax exempt or qualifying company and income from such companies would only be taxable if received by the individual in Gibraltar.

Redmount is in a position to assist both in the submission of an application to obtain Qualifying (Category Two) Individual residency status and seek suitable approved residential accommodation for those seeking to reside in Gibraltar.