- No import duty is payable on the yacht
- No V.A.T. is payable unless it is habitually used within U.K. waters (occasional visits do not amount to habitually).
- No annual taxes levied.
- There is no inheritance tax and no death duties are payable when the owner dies.
- No taxes are payable on the sale or transfer of your yacht.
- No exchange controls exist and therefore monies can be held or transferred in all currencies.
This article is intended as a general guide to the offshore services available in Gibraltar, and should not replace individual professional advice. One should always ensure that professional advice is taken both in Gibraltar and in any other country affected by the offshore structure.