Branch² Intelligence
Tax-friendly Gibraltar ups wealth requirement for rich expats to £5m
Key takeaway
Gibraltar raises wealth requirement for tax-friendly expat status to £5m, tightening access to its favourable regime.
- Step 1Gibraltar raises wealth requirement to £5m, tightening access to tax benefits.
- Step 2Wealthy expats below threshold consider relocating to other low-tax jurisdictions, reducing Gibraltar's high-net-worth population.
- Step 3Gibraltar-based financial services firms lose clients and revenue, leading to cost-cutting and potential staff reductions.
- Step 4UK SMEs with Gibraltar-linked clients or suppliers face revenue disruption and higher compliance costs as cross-border structures unwind.
Source: This Is Money
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