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HEPSS Guide

PROVIDED BY ABACUS

THE HEPSS STATUS
(HIGH EXECUTIVE POSSESSING SPECIALIST SKILLS)

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 £120,000 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 conducted business in Gibraltar or taken up residency 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.

Abacus will assist you throughout the entire process. Whether it is helping you with your application, helping you find an appropriate property or liaising with the lawyers, our team will be with you every step of the way. Once you have become a Gibraltar resident, we can review your current financial arrangements, investments and assist you with any tax planning that may be required as part of your relocation.

For more information on HEPSS contact:

Charles Gomez

Abacus Financial Services Limited
5-9 Main Street, Gibraltar, GX11 1AA
T:+350 200 78777 | E:contactus@abacus.gi
www.abacus.gi

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