Petro Funds is an executive level financial and management consulting firm that provides support to corporations, financial institutions and high net worth individuals A GLOBAL FINANCIAL POWER-HOUSE
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A Bullet Proof Jurisdiction
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Gibraltar is a British Crown Colony and has been so since 1704. The Constitution gives legislative powers to the Governor, who is the Queen's representative, and the House of Assembly. It is a dependent territory, responsibility for which lies with the British Government. It enjoys considerable self-government, although the formal assent of the Governor is required for all legislation. The British Foreign Office is directly responsible for Gibraltar's foreign affairs, defense and security matters, whilst the Ministers, who are answerable to the House of Assembly, deal with domestic matters.
Gibraltar Population is 29,245. A Low Cost Business Environment At the end of 1994, some 55,000 companies were registered in Gibraltar,that is, a greater number than the individual residents in Gibraltar. Many of these companies are off-shore companies, but the policy of the Gibraltar Government both encourages the registration of offshore companies and also provides valuable tax concessions to foreign investors wishing to establish a physical presence on the Rock. The law regulating the incorporation, constitution and dissolution of corporate bodies is set out in the Companies Ordinance. The provisions of the Companies Ordinance were originally based on the English Companies Act 1929 but the Ordinance has been much amended to bring it up to date. Under the terms of the Ordinance it is possible to incorporate an unlimited company, a company limited by guarantee, with or without share capital, or a company limited by shares, either public or private. BACKGROUND Political and economic stability is provided by a combination of Gibraltar's close to three-hundred year association with Britain, its own parliamentary government, and its membership in the EU. The long-standing ties with Britain gave rise to its parliament, its British style legal system (all lawyers are admitted in England), its well-developed financial infrastructure, its ship registration through the British registry, and its military protection by both the United Kingdom and the NATO allies. These factors combine to make Gibraltar safe both economically and politically. Gibraltar became an "off-shore" financial center due to local expertise and its geopolitical situation. The end of the Cold War era caused the military, which used to be Gibraltar's largest employer, to decrease drastically its activities and presence. This led Gibraltar's government to explore other avenues of raising revenue and providing employment for its population. Today, the Gibraltar government welcomes the formation of tax-exempt companies and caters to the needs of foreign investors. Gibraltar's dedication to off-shore business is shown by the opportunities available. Gibraltar tax-exempt companies do not pay: Capital Gains Tax, Value Added Tax (VAT), Wealth Tax, Income or Corporation Tax, Estate Duty and Transfer and Stamp Duty. Uniquely, Gibraltar permits tax-exempt companies to be located and managed from the 'haven' itself and still receive all the tax breaks typically associated with being 'off-shore'. Gibraltar has also not entered any double taxation agreements with any foreign governments or taxation authorities. Petro Funds feel that it is also important to stress that Gibraltar is highly regulated and the only offshore location to receive White Paper Status from the US Financial Action Task Force. As a licensed company, Petro Funds insists on performing all due diligence required for us to meet our regulatory requirements and to "know our clients" - this process may involve requiring items such as references for all individuals to be associated with companies we manage. NON-RESIDENT GIBRALTAR COMPANIES. A company which is incorporated in Gibraltar, owned by non-residents of Gibraltar and managed and controlled by directors who reside and hold their board meetings outside of Gibraltar will be considered as non-resident. A non-resident company is not subject to Gibraltar corporation tax except on that part of the profit which is remitted to Gibraltar. In practice this means that a non-resident company may be totally exempt from Gibraltar corporate taxation provided that it does not maintain Bank accounts within Gibraltar. |
Rock Solid Jurisdiction 
Gibraltar
Gibraltar
Your Offshore Company;
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TAX RESIDENT OR EXEMPT?:
The non-resident company is cheaper as it is not subject to the fixed rate annual duty and other fees which are payable by the exempt company but it is generally less convenient to manage due to the requirement to appoint non-resident directors and maintain Bank accounts outside of Gibraltar only. This may have tax implications in the home country of the directors .
The shares of a non-resident company would be subject to Gibraltar estate duty whereas the shares of an exempt company would not. In a world of ever changing fiscal legislation the 25 year guarantee enjoyed by the exempt company may prove particularly useful in the future. In addition to the above types of non tax paying companies Gibraltar offers two further types of company structure which may be extremely useful in a tax planning exercise:- THE GIBRALTAR QUALIFYING COMPANY: This type of company is similar to the exempt company but, instead of being non tax paying, the company elects its own rate of tax as long as that rate is 2% or above. This type of company can be useful where it is necessary to show that a certain minimum level of taxation has been paid in order to gain relief from taxation in another country. For example, the taxation systems of certain countries provide that if taxation above a certain minimum level has already been paid on income remitted to the home country then no further taxation will be charged on those profits by the home country. The qualifying company can therefore elect to pay the required minimum level which would allow that income to be remitted to the home country without further taxation being suffered on arrival. A Qualifying Company must lodge an amount of £1,000 with the Gibraltar Government as a guarantee against payment of future taxation GIBRALTAR TAX EXEMPT COMPANY: A Tax Exempt Certificate valid for 25 years is generally available provided no Gibraltarians or Gibraltar residents are beneficiaries of the Tax Exempt Company. Throughout the period of Tax Exemption, companies and their beneficiaries must maintain a good reputation and an annual fee, currently £ 225 for Gibraltar companies, must be paid. A company with Tax Exempt status is generally exempt from taxation in Gibraltar. Tax exempt companies or branches are exempt from the following Gibraltar taxes:
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The Rock of Gibraltar
Gibraltar
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Mailing, Fax, Telephone And Office Facilities:
As part of the domiciliary service fee we provide clients with a registered office address in the country of incorporation but clients may find it convenient to arrange for mail forwarding, fax and telephone facilities through our Switzerland, The Bahamas Islands, London or other Petro Funds world-wide offices. This service may be especially useful where, for example, the company is opening bank accounts. Normally the bank would address statements and other correspondence to the company at the address of the client but this results in a loss of confidentiality in that the connection between the company name and the client will be automatically made.
To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability. For example, your offshore company could quote Petro Funds London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum. Trust Services: Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settler. These advantages may include: Saving Of Inheritance Tax: On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated. Asset Protection: Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc. Avoidance Of Probate: A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will. Continuity: Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself. Lifetime Tax Savings: During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services. Other Services: Petro Funds provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services. VIP Package: For one payment US$599 Petro Funds International will provide the following:
| The Secure Jurisdiction 
Gibraltar; The Picturesque Jurisdiction
Your Offshore Corporation
Gibraltar; Next To Heaven
Gibraltar; Live Another Life
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Confused?
The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in an offshore company formation or registering of a bank or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes. Petro International has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore. |
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The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can open a financial account under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.
We trust that we have clarified the intriguing world of Gibraltar's Tax Exempt Company Formation Programs We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services.
If you would like to obtain further details of the legislation
surrounding the formation of an International Business Company (IBC) in Gibraltar or wish to discuss any matter in complete confidence, please
click here
to contact:
Mr. John Cooper
MBA
Vice President
Petro Funds
Offshore Services
| Please click here to explain us the full particulars of your situation and what you wish to accomplish. We will review your situation VERY CAREFULLY and offer to you a custom fitted solution. 95% of the time the solution will be simple to understand and 100% of the time it will be the least expensive alternative. |
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| Please feel free to contact Petro Funds if you believe the formation of a Gibraltar Tax Exempt Company at the present time may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL. |
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Petro Funds is in a position to assist new and established clients in opening personal and corporate offshore bank or trust accounts, denominated in almost every currency, in over 125 of offshore jurisdictions world-wide, including:
New Zealand, Australia, Chile, The Dominican Republic, Ireland, Argentina, Belize, Brazil, Spain, Italy, Costa Rica, Venezuela, Uruguay, Prague, Bodrum, The Spanish-Moroccan Tax Havens, The Madeira Tax Haven of Portugal, The Jamaican Free Trade Zones, The Dominican Republic Free Trade Zones, Campione D'Italia, Andorra, Poland, The Eastern Turkish Border and Tbilisi, Mozambique, Guatemala, The Virgin Islands, The Philippine Islands, and Anguilla are just some of the countries and places featured.
 | There is only one Petro Funds Our scope, financial strength, balance, depth of talent and integrity have made us our clients' trusted global advisor. |  |
Petro Funds 
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